Funding providers in South Africa read your bank statements and monthly turnover to answer three questions: how much your business earns, how steady that income is and what repayments your cash flow can comfortably carry. Steady numbers over recent months count for more than one standout month.
Here's how to put your best numbers forward:
- Pull your last three months of business bank statements and read them before you apply.
- Aim for steady, regular turnover. Consistent income reads better than big, unpredictable spikes.
- Keep your account conduct clean. Bounced debit orders and returned payments raise red flags.
- Keep your business and personal banking separate so your turnover is easy to verify.
- Know your average monthly turnover. It usually decides how much funding you qualify for and what you can realistically repay.
Your bank statements are the closest thing a funding provider has to meeting your business in person. They show what actually comes in and goes out, month after month. That's why unsecured funding decisions lean so heavily on them: there's no collateral involved, so your trading history does the talking. Before you apply, read your last three months of statements the way a provider would. If the picture is steady, you're ready. If it's patchy, a few months of cleaner account conduct can make a real difference.
At GoTyme for Business, we base funding decisions on your trading history, not collateral, with advances of up to R5 million and an online application that takes minutes, subject to assessment. See how a GoTyme Business Advance works at gotyme.co.za/business.