To get your business assessed for finance, you need to provide bank statements. The bank statements provide financiers with income and expense information to calculate affordability. Affordability is what lenders look for to ensure the business can service the new debt.
When applying for a business loan, the document step is usually what holds up the application. Often business owners complete the form and wait days or weeks to gather the documents. The reality is it takes not even 5 minutes to prepare the statements, so the delay is unnecessary if you know what to do.
In this article we will guide you on what statements you need to provide for a short-term business loan. Our goal is to help you avoid document delays so you can receive feedback within 24-48 hours.
Determine how long you need to repay the loan
When you complete our application form, we ask you how long you need funds for.
We have short term finance partners that offer loans over 3, 6 or 12 months. Every partner we work with offers different repayment terms. Thus, it’s important that we match you with a partner that will suit your repayment needs.
Please take note of the document requirements for the different loan periods:
3-month loan
3 month’s bank statements and a transaction history for the current month
6-month loan
6 months bank statements and a transaction history for the current month
12-month loan
12 months bank statements and a transaction history for the current month
12- months+
Our short-term loans only offer repayment periods up to 12 months. If you need a loan for longer than 12 months, we recommend you look at our secured loan option. You will be required to provide a suitable asset as security to be approved for the loan.
Kindly note that for all bank statements we can only accept pdf statements that were downloaded from your bank account. Our financiers do not work with scanned copies or jpg files. Please follow the instructions below to send us the correct format.
Quick links
Business loan application form
ABSA Bank
Capitec Bank
First National Bank
Nedbank
Standard Bank
Send us your bank statements
Now that your documents are ready you can email them to judy@premierfinance.co.za to start your application.
If you have not yet completed your application, please click on the button below to get started.
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