"To apply for a GoTyme Business Advance, your car dealership or automotive business generally needs a monthly turnover of at least R50,000, supported by three to six months of continuous turnover"
- Your business needs a monthly turnover of at least R50,000.
- You’ll need to show three to six months of continuous turnover.
- The final offer depends on our assessment of your business.
Car dealerships and other automotive businesses generally need a monthly turnover of at least R50,000 to apply for a GoTyme Business Advance. You’ll also need to show at least three to six months of continuous turnover through your business bank statements. The business should have been under your active ownership for at least six months. These requirements help us understand whether your business has an established trading history and enough regular turnover for funding to be considered.
Reaching R50,000 in monthly turnover means you may meet one of the minimum application requirements, but approval is not guaranteed. We’ll also look at information such as your recent banking activity, credit profile, ownership history and the consistency of your turnover. Final approval, the funding amount and your payment options will depend on the outcome of this assessment.
A GoTyme Business Advance provides an upfront amount that can be used for different business needs. A car dealership or automotive business could use it to:
- Buy vehicles or parts
- Increase stock ahead of a busy period
- Upgrade workshop equipment
- Cover supplier payments
- Improve or expand business premises
- Support cash flow while waiting for customer payments
Before using funding to buy more stock, consider how quickly you expect it to sell and how the purchase will affect your cash flow.
A GoTyme Business Advance has one fixed fee agreed upfront, so you’ll know the total cost before accepting your offer. You can choose fixed payments for a predictable schedule or flexible payments that adjust with your turnover. No business or personal assets are required as collateral. You can apply online by securely linking your business bank account or uploading recent bank statements. You don’t need to change banks to apply. Having complete documents, steady banking activity and an established trading history will help us assess whether a GoTyme Business Advance is suitable for your automotive business.