Cash advance
A cash advance is a sum of money that helps you achieve your business goals. Whether that's a store renovation, a big stock order or another form of investment, the injection of cash can help you grow your business.
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If you’re a bit confused as to the difference between the two, no sweat. While they both involve money being loaned to you, a cash advance and a business loan differ in the way that they’re paid back.
Here’s what’s what:
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Here's how you win with cash advange
Cash advance
Paying back a cash advance through your sales means there's less financial pressure on you.
Business loan
A sum of money paid back via set terms and conditions.
Business is booming. Yay! But in order to grow your business you need cash, which is in short supply. Sound familiar? You’re not alone. In fact, a shortage of cash is the biggest hurdle entrepreneurs face when expanding their operations.
Enter: a cash advance. An injection of funds that you can use to rent more space, hire additional staff, upgrade your restaurant kitchen, or whatever it is that your business needs to grow.
The world is in crisis. Your business doesn’t have to be
From lockdowns to loadshedding, businesses big and small have suffered major setbacks since the C-word became part of the zeitgeist.
This means that while extra cash is more important than ever, it’s also more difficult to come by.
Even if you’re a meticulous planner (hats off to you!), a burst geyser followed by a fridge full of rotting food due to Eishkom refusing to come to the party, coupled with an increase in courier fees due to petrol hikes can mean that your cash reserves are quickly depleted.
In other words, sometimes the poo hits the fan.
Traditional business loans require patience and a love for paperwork
Two things you have in short supply when you’ve got customers demanding to know why their coffee is cold and a staff member who’s called in sick.
Borrowing money from a bank is a lengthy, convoluted process that often entails a substantial wait for funds to land in your account.
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Here's how you win with cash advange
Fast
Some cash advances (such as Yoco Capital) are deposited in your account within 1 business day.
Easy
Everything is done online, so less admin for you. Save your energy for growing your business!
Flexible
Paying back a cash advance through your sales means there's less financial pressure on you.
Merchants growing with Yoco Capital
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NATIONWIDE
Mlami's Transport
A friendly and reliable driver for personal or professional shuttling.
Transport
Nationwide
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JOHANNESBURG
Junk Park
Gourmet junk food made with fresh ingredients and attention to detail.
Restaurant
Sandton
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HERMANUS
Sweet Moments
Fantastic soft serve and super service from an old-school ice cream truck.
Food truck
Onrus Beach
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VELDDRIF
Bokmakerie Nursery
A small town nursery with a wide selection of indoor and outdoor plants.
Nursery
Velddrif
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3 ways Yoco Capital helps you grow
Flexible
We get it: some months are better than others, so when sales slow down, your repayments do too.
No risk
We don’t ask for any collateral to back your cash advance. That’s one less thing to stress about. Nice hey?
Simple
Go to your Yoco Portal and see if you qualify. Apply in 5 minutes, get approved you get the cash in 1 business day.