Invoice discounting is not a loan at all. It is early access to your invoiced revenue. As such, it creates no debt on your balance sheet and you are still able to apply to another lender or a bank for a loan.

Unlike a loan, we purchase a current asset of yours (an invoice) at a slight discount and pay you for it immediately to generate cash flow. The proceeds are yours to use immediately, to grow and run your business. 30 or 60 days later, your customer pays the invoice and we earn the difference between what we pay you for the invoice and its full value. This is called the ‘discount’ and it is how we earn our revenue.

Growth Finance can assist your business if you:

• have at least 6 months of revenue
• are a (Pty) Ltd or a CC registered in South Africa
• have turnover of R1m+ in the past 12 months
• supply goods or services to other companies (B2B)

The documents we ask for in the application process:

• business bank statements for last 6 months
• Tax Clearance Certificate
• proof of operating address
• proof of directors’ address
• director IDs

The application form is completely online (just ask if you want a paper one) and it will take you 6 minutes to complete.

Once you have completed your application form and uploaded the documents we require, we will provide you with a decision and a credit limit within 24 hours.

We’ve worked hard to make the application process simple and straightforward. There are two steps:

1. Complete our online application form.
2. Upload the documents asked for by the portal.

Your documents are used to provide your credit limit. We do not share this information with third parties ever.

Once we have your application, we contact you by phone and introduce our offering with a credit limit and expected costs. If you are happy, you sign our agreement and you’ll be ready to get your advance on your first invoice.

If you prefer email and paper, then we have you covered. Please contact us and we will email our application form to you.

Of course.

Our main focus is on who is paying your invoice.

If your business went through tough times and has a default judgement or adverse payment, then how did you handle that? Did you approach your creditor and make an arrangement? Are you sticking to it? If so, then the adverse payment is not a deal breaker. We will review your application on its merits.

✅ You issue an invoice as usual

💸 You sell it at a small discount to Growth Finance

🚀 You typically get 80% of the value advanced upfront

📈 Once the customer pays, the final balance (20% minus fees) is released

This helps unlock cash really quickly — without taking on costly debt — so you can fulfil new orders, pay suppliers, hire staff or cover urgent costs. You stay in control of your customer relationships and benefit from a lower net cost than other short-term business loans with no long term contract.

Within 12 hours of sending your full application pack, you will receive our decision, with an offer if applicable.

Within 4 days of sending your application pack, you will be onboarded and ready to trade invoices with us.

Once your customer confirms your invoice, we pay out on the same day.

Yes. The first time you sell us an invoice for a particular customer, you send that customer our standard communication and let them know you are working with us. Invoice Discounting has become so widespread and popular as a way of funding business growth, that a growing number of corporates have established Invoice Discounting departments to deal with their suppliers and their working capital funders. We will never contact your customer without your prior consent.

The first time you sell us an invoice for your customer A, we ask you to send customer A our standard communication to let them know you are working with us. Each time we finance an invoice for you, your customer will be prompted to confirm the invoice.

Growth Finance asks your customer to confirm the following about your invoice:

• They issued a purchase order or similar binding request for you to supply the goods or services listed on the invoice; and
• They agree that your business has sold the invoice to Growth Finance; and
• They have received the goods or services listed on your invoice and they are satisfied; and
• The invoice has been reviewed by them and is scheduled for payment on the payment date stated on the invoice; and
• They agree to pay the invoice to Growth Finance.

It depends. If you only want to finance one invoice (or one batch) and the invoice is already with your customer, then we do not expect you to re-issue this invoice. We will pay out as soon as your customer has confirmed the required information. [link to What does my customer confirm to Growth Finance about my invoice? above]

If you want to finance more than once through Growth Finance, then your invoices to the customers you want us to work with must have Growth Finance’s bank account details on them.

Easiest to explain this one with an example: if we finance some of your invoices to customers A, D & E, then all your invoices to customers A, D & E will need to carry only Growth Finance’s banking details.

This enables us to receipt all payments from customers A, D and E, charge our fees only on the financed invoices and pay the net amount to your business bank account on the same working day.

We finance invoices issued to other companies in South Africa. We also work with invoices for exports to certain countries. Please enquire about this with us.

Growth Finance only finances invoices for goods and services that have already been delivered. We don’t fund invoices that are issued in advance of the goods being delivered, for example invoices for a materials deposit.

Your invoice should not be past its due date yet. For example, if your invoice was supposed to be paid on the 31st August 2020 but it is already the 10th September and the invoice is still unpaid.

We finance invoices with payment terms of between 14 and 60 days.

An invoice should clearly indicate:

• The words “Tax Invoice”, “VAT Invoice” or “Invoice”
• Your company name, address and VAT registration number
• Name, address and your customers VAT number
• Invoice serial number
• Date of issue of invoice
• Accurate description of the goods and /or services (indicating that the goods are second-hand goods, if applicable)
• The quantity or volume of goods or services supplied
• Value of the goods or services supplied, the amount of VAT charged and the price of the goods (price plus the VAT)
• Reference to the purchase order number (PO) if issued in terms of a purchase order or contract