Your Frequently Asked Questions
Tap on the funding type to find out the answers
You business will be subject to basic due diligence criteria and must be registered for at least a year with a minimum of one year’s worth of bank statements
Applying online takes 15-20 minutes. Once all required documents have been accepted, you will receive a response to the loan application in 2 business days
We invite you to use our simple online loan calculator, located on the Short Term Loan Page, to estimate the cost of the loan before applying. If approved, your financing offer will clearly indicate your interest rate, administration fee and your required repayments,
The first payment will typically be due within one month
The online application can take as little as 20 minutes to complete with a response to the application within 3 weeks
We invite you to use our simple online loan calculator, located on the Medium Term Loan Page, to estimate the cost of the loan before applying. If approved, your financing offer will clearly indicate your interest rate, administrative fees and required repayments,
The first payment will typically be due within one month. Any variations will be determined by the terms of the facility.
Our Medium Term Loan Page lists the required documents for application
An asset of value, such as property, equipment or cash
A business plan is essential for several reasons. Firstly, it provides a comprehensive overview of your business, capturing both its current financial standing and future potential. By laying out how you intend to utilize the requested funds, the plan offers a clear roadmap of the intended growth strategies and their expected impact on your business. We’ll review these figures and projections in relation to industry benchmarks and discuss them in-depth with you to ensure a mutual understanding and realistic expectations.
Invoice factoring is a financial arrangement where a business turns over it outstanding invoices to a factoring company and receives immediate cash. With Inspire, we’ll advance a significant portion of the invoice’s value upfront, providing you with quick access to cash, When your clients pay the full invoice amount, we’ll deduct our advance amount plus a small fee and return the balance to the business.
It can be a good solution for many businesses, but not for all. Consider these questions:
• Do you need access to the cash tied up in accounts receivable to meet ongoing business expenses?
• Are your customers dependable and pay invoices on time?
• Will your customers be willing to sign the necessary paperwork agreeing to redirect payment to settle the invoice to Inspire?
If you answered yes on all 3 counts then factoring is right for you.
You’ll have the option of customising an introductory email template that explains the process to your client. We make the onboarding process easy and will keep you in the loop before every interaction with your customers
We are open to growth oriented businesses within any industry in the MSME space with priority focus on women owned/led founders
We offer revenue-based financing in which the amount you repay will be capped and predetermined.
Firstly, it’s revenue based financing that is tailored to you and flexible enough to grow as you do, For instance, repayment can be linked to your sales cycle. So you can pay less when sales are low, and a higher amount when you have a bumper week.
Each product page lists the required documents for application
Instead of using a regular interest rate we use a “repayment cap”. Think of it as the total amount you’ll pay back on a loan, If you access funding from Inspire, you’ll pay us back the original amount, plus some extra (that’s the cap). It’s like a set “maximum” you agree to repay. You’ll continue making payments until you’ve paid back this total capped amount, which typically takes between 2 to 5 years.
A business plan is essential for several reasons. Firstly, it provides a comprehensive overview of your business, capturing both its current financial standing and future potential. By laying out how you intend to utilize the requested funds, the plan offers a clear roadmap of the intended growth strategies and their expected impact on your business. We’ll review these figures and projections in relation to industry benchmarks and discuss them in-depth with you to ensure a mutual understanding and realistic expectations.
We are open to growth oriented businesses within any industry in the MSME space with priority focus on women owned/led founders
We are responsible lenders first and in that role we aim to ensure that you can afford repayments before taking a loan. However, running a business can be unpredictable. If circumstances change and you are unable to meet a payment, please get in touch with our office immediately. Let’s talk about how we can help you get back on track. There are options we can discuss. But the worst thing you can do is to ignore any mounting debt and not reach out to discuss the options available to you. Learn more about our process HERE
We’re happy to answer any questions or address any issues you may be facing. Send us an email at hello@inspirecapitalsolutions.com with your phone number and we’ll be in touch within 24 hours.
Each product page lists the required documents for application
This is a legal and financial commitment from an individual, in this case the business owner (s), who will be personally liable for the debt if the company does not pay.
