Unlock your potential
for growth – fund your
future now!
FREQUENTLY ASKED
questions
To grow your business
If your business thrives, and you want to take it to the next level – carry out refurbishments and expansions, hire more staff or buy new equipment – you’ll need a capital boost to get there. Conventional banks are admin-intensive, require security and collateral, and have slow response and turnaround times. An imali business cash advance may be just what you need to fill the gap and boost your business.
For emergencies
You need to cover unexpected or unforeseen situations: lower than expected stock levels; the sudden loss of a key customer; the replacement or servicing of equipment essential to daily operations. It makes sense to use a business cash advance to see you through these situations, and to fund your future.
A business cash advance, as the name implies, must be used for business purposes only, not for personal use – and the business uses are virtually limitless!
With its shorter term (between three to nine months), the business cash advance should NOT be used for long-term financing, such as the purchase of new premises or business vehicle, but rather for short-term purposes, such as stock replenishment, refurbishments, marketing, advertising, payroll, expansion, supplier payments (for discounts), repairs or equipment.
The funding structure differs from traditional lending businesses in that it involves the purchase of future cash flows. It’s a buy-sell agreement – imali purchases the future cash flows that we expect your business will generate (from sales), for a lump sum upfront purchase price, which includes our fee. You could say that we forward-purchase your turnover, because we believe in your business’s future and we want to help you grow!
On a daily basis, you then pay back the portion we purchased, until the total value that has been purchased (including the fee) is reached. This allows you to use your future business turnover as a way to raise working capital today.
Note: imali is not a micro-finance institution and does not lend money or otherwise grant credit or receive debts from third parties.
Daily, excluding weekends and public holidays. And if you have a solid relationship with us, and a sound repayment history, we can offer you more flexible repayment terms, such as once-weekly, or on a specified business day in the week.
After each business day, an agreed percentage of your daily turnover (usually around 10-15%) will be taken from your bank account via a debit order, until the total value purchased has been paid over to us.
Typically, it takes three to nine months for the total value to be purchased from future cash flows.
The payment term on an imali business cash advance depends on your revenue. The typical business cash advance term is between three to nine months.
Our imali consultants will take you through the imali calculator to show you exactly how long your repayment term will be (based on your business days), as well as the amount you qualify for.
You will pay a factor that is a multiple of the purchase price (cash advance value), which determines the value of the future turnover to be purchased from you. The factor that will be applied is impacted by certain variables, such as the financial performance of the business and the type of industry.
For example: R100 000 purchase price x 1.3 factor = R130 000 sold turnover amount to be paid back to imali.
The retrieval percentage of your daily turnover that is used to pay back your advance is usually around 10-15%.
For example: R10 000 average daily turnover x 10% = R1 000 daily repayment.
Our imali consultants will take you through the imali calculator to show you what amount you qualify for, what your daily repayment amount is, and exactly how long your repayment term will be (based on your business days).
Based on your turnover, we calculate the amount that you could qualify for. Our focus is on advances between R80 000 and R400 000. Larger amounts may be offered to existing customers, based on the length of the relationship and the repayment history.
Our imali consultants will take you through the imali calculator to show you what amount you qualify for, and exactly how long your repayment term will be (based on your business days).
At imali, we fund your future by offering you access to working capital to invest in the growth of your business. We want to help you unlock potential for sustainable growth – and success! – in your business. We look at your business bank accounts for the past six months, your latest financial statements for the past 12 months, your tax status and proof of business address, to determine the advance amount and repayment percentage.
As your repayments will be made to us on regular business days, it’s important that you have a positive track record of meeting your financial and business obligations. To this end, we’ll look at your previous and current transaction history to determine the cash flow patterns of your business, and credit bureau data will be accessed. If your business track record shows problems meeting daily financial obligations, or if you have a history of insufficient funds or debit order returns, it may, unfortunately, lead to your funding request being denied.
- Why do I need a business cash advance?
- What are business cash advances used for?
- How does an imali business
cash advance work? - What is the repayment frequency on an imali business cash advance?
- How long will it take to pay back an imali business cash advance?
- How much will it cost?
- How much can I qualify for?
- How will my application for an imali business cash advance be reviewed?
To grow your business
If your business thrives, and you want to take it to the next level – carry out refurbishments and expansions, hire more staff or buy new equipment – you’ll need a capital boost to get there. Conventional banks are admin-intensive, require security and collateral, and have slow response and turnaround times. An imali business cash advance may be just what you need to fill the gap and boost your business.
For emergencies
You need to cover unexpected or unforeseen situations: lower than expected stock levels; the sudden loss of a key customer; the replacement or servicing of equipment essential to daily operations. It makes sense to use a business cash advance to see you through these situations, and to fund your future.
A business cash advance, as the name implies, must be used for business purposes only, not for personal use – and the business uses are virtually limitless!
With its shorter term (between three to nine months), the business cash advance should NOT be used for long-term financing, such as the purchase new premises or business vehicle, but rather for short-term purposes, such as stock replenishment, refurbishments, marketing, advertising, payroll, expansion, supplier payments (for discounts), repairs or equipment.
The funding structure differs from traditional lending businesses in that it involves the purchase of future cash flows. It’s a buy-sell agreement – imali purchases the future cash flows that we expect your business will generate (from sales), for a lump sum upfront purchase price, which includes our fee. You could say that we forward-purchase your turnover, because we believe in your business’s future and we want to help you grow!
On a daily basis, you then pay back the portion we purchased, until the total value that has been purchased (including the fee) is reached. This allows you to use your future business turnover as a way to raise working capital today.
Note: imali is not a micro-finance institution and does not lend money or otherwise grant credit or receive debts from third parties.
Daily, excluding weekends and public holidays. And if you have a solid relationship with us, and a sound repayment history, we can offer you more flexible repayment terms, such as once-weekly, or on a specified business day in the week.
After each business day, an agreed percentage of your daily turnover (usually around 10-15%) will be taken from your bank account via a debit order, until the total value purchased has been paid over to us.
Typically, it takes three to nine months for the total value to be purchased from future cash flows.
The payment term on an imali business cash advance depends on your revenue. The typical business cash advance term is between three to nine months.
Our imali consultants will take you through the imali calculator to show you exactly how long your repayment term will be (based on your business days), as well as the amount you qualify for.
You will pay a factor that is a multiple of the purchase price (cash advance value), which determines the value of the future turnover to be purchased from you. The factor that will be applied is impacted by certain variables, such as the financial performance of the business and the type of industry.
For example: R100 000 purchase price x 1.3 factor = R130 000 sold turnover amount to be paid back to imali.
The retrieval percentage of your daily turnover that is used to pay back your advance is usually around 10-15%.
For example: R10 000 average daily turnover x 10% = R1 000 daily repayment.
Our imali consultants will take you through the imali calculator to show you what amount you qualify for, what your daily repayment amount is, and exactly how long your repayment term will be (based on your business days).
Based on your turnover, we calculate the amount that you could qualify for. Our focus is on advances between R80 000 and R400 000. Larger amounts may be offered to existing customers, based on the length of the relationship and the repayment history.
Our imali consultants will take you through the imali calculator to show you what amount you qualify for, and exactly how long your repayment term will be (based on your business days).
At imali, we fund your future by offering you access to working capital to invest in the growth of your business. We want to help you unlock potential for sustainable growth – and success! – in your business. We look at your business bank accounts for the past six months, your latest financial statements for the past 12 months, your tax status and proof of business address, to determine the advance amount and repayment percentage.
As your repayments will be made to us on regular business days, it’s important that you have a positive track record of meeting your financial and business obligations. To this end, we’ll look at your previous and current transaction history to determine the cash flow patterns of your business, and credit bureau data will be accessed. If your business track record shows problems meeting daily financial obligations, or if you have a history of insufficient funds or debit order returns, it may, unfortunately, lead to your funding request being denied.
