Retail Capital

Retail Capital funding requirements

The official calculator page lists monthly turnover of R50,000 or more, three to six months of continuous turnover supported by bank statements, and business ownership of at least six months.

The application portal instead specifies turnover above R50,000, continuous turnover for more than three months and ownership for longer than six months. If you are exactly at a threshold or have fewer than six months of records, confirm eligibility before proceeding.

• Business records: Recent business bank statements and business registration details.
• Identity: The product page lists a valid South African ID; the portal also refers to passports and work permits. Foreign owners should confirm which documents and residency conditions apply.
• Assessment: Approval remains subject to underwriting and credit checks. Turnover alone does not show that collections are affordable after wages, suppliers, tax and existing commitments.

The privacy policy describes identity verification, affordability assessment and exchanges of information with credit bureaux. This is not a no-credit-check funding route.

Who should consider this business advance?

Our assessment is that it is most useful when an established business can connect the funding to a measurable return: buying stock that sells quickly, securing a worthwhile supplier discount or addressing a temporary timing gap between receipts and expenses.

Turnover-linked collections may suit fluctuating sales, but turnover is not profit. A business with thin margins can struggle even when revenue remains healthy. Reconsider if the advance would repeatedly cover operating losses or require another advance to repay it.

Compare other business funding options, including an overdraft for recurring cash-flow gaps, invoice finance for unpaid customer invoices or asset finance for equipment with a long useful life. Compare equivalent amounts and payment periods.

How the application and repayments work

Application process

1. Apply through the official funding portal or speak to a funding specialist.
2. Provide business and identity information. The calculator page describes linking your bank account through TruID or uploading statements.
3. Review the personalised offer, including the cash received, fixed fee, total payable and collection arrangement.
4. Accept and sign only after checking how payments fit your actual cash flow.

With fixed payments, the scheduled amount stays the same. With turnover-linked payments, collections vary with sales. Establish how turnover is measured, whether minimum payments apply and what happens if receipts fall substantially.

When could funds arrive?

GoTyme advertises possible same-day funding after acceptance and signing. Application assessment comes first, and bank processing can delay receipt. Do not treat an application submission as a confirmed payout date.

Payment difficulties and complaints

Contact the business funding team on 0861 171 717 or business@gotyme.co.za before a collection becomes unaffordable. Request written confirmation of any revised arrangement.

GoTyme’s general complaints procedure lists complaints@gotyme.co.za and 0860 999 119. If unresolved or the response is unsatisfactory, contact the National Financial Ombud Scheme on 0860 800 900 to establish whether your business and dispute fall within its jurisdiction. Complain to the provider first.

Questions to ask before accepting an offer

• How much reaches my account after deductions, and what is the complete rand amount payable?
• Does the quoted fee include applicable VAT, administration costs and any compulsory insurance?
• What are the collection frequency, turnover percentage or fixed amount, and expected settlement date?
• What changes if sales fall, a debit fails or the business stops trading?
• Must an owner sign personal surety, and what rights over business receipts does the agreement create?
• What would early settlement cost, and how is any discount calculated?
• If additional funding settles an existing advance, how much fresh cash remains and what new fee applies?

Retail Capital funding: advantages and limitations

• Choice of payment structure: Fixed or turnover-linked collections allow a comparison against the business’s sales pattern.
• No asset collateral advertised: Access does not depend on pledging property or equipment, although contractual and personal liabilities still need checking.
• Cost stated before acceptance: A fixed rand fee makes the total funding charge identifiable once quoted.
• Limited price comparison upfront: Without a personalised fee and payment schedule, the offering cannot reliably be ranked against another lender.
• Frequent cash outflows: Daily or weekly collections can leave less cash available for suppliers and payroll.
• Trading history required: A business that has not started generating revenue does not meet the published criteria.

Retail Capital fees, interest and total repayment

The transition notice describes funding with an upfront fixed fee and no interest. The product FAQ says the fee depends on the advance amount, selected payment period and business profile.

A fixed fee is not an APR. Comparing a fee percentage with a bank’s annual interest rate overlooks when payments are collected and how quickly the outstanding balance reduces. Compare total rand cost, net cash received and dated repayments.

No complete public tariff, compulsory-insurance schedule or personalised repayment example was verified. Obtain the advance agreement and an itemised quotation covering ordinary payments, failed collections, default and recovery costs. If insurance is required, check its premium, exclusions and claim conditions.

Illustration of a fixed funding fee

Illustration only, not a Retail Capital or GoTyme quotation: Assume R100,000 reaches the business account, the agreed fee is R20,000, and there are no additional charges, insurance premiums or deductions. Total repayment would be R120,000. The fee equals 20% of the amount advanced; that does not make it a 20% annual rate. A meaningful annualised comparison also requires the payment dates and amounts.

The official product FAQ states that early settlement carries no early-settlement fee and may qualify for a discount. Request a written settlement figure rather than assuming the fixed fee reduces automatically.

Is Retail Capital business funding worth considering?

Retail Capital’s current GoTyme Business Advance merits comparison where funding can generate enough additional cash to cover its fee and collections. Its strongest feature is the choice of payment structure. Its main limitation is that public marketing cannot establish your actual cost.

The decisive comparison is whether the quoted total cost and collection schedule leave sufficient cash for ordinary operations, including during a weaker trading period.

Retail Capital business funding FAQs

Is Retail Capital still operating, and is its funding a conventional business loan?

Retail Capital has transitioned to GoTyme for Business, with funding offered through GoTyme Business Advance. The current product uses a fixed funding fee and fixed or turnover-linked collections. When comparing it with a conventional business loan, focus on the payment schedule and total cost rather than treating the advertised absence of interest as a cost advantage.

How much funding can I get, and does the R5 million limit apply to every business?

R5 million is the advertised ceiling, not an amount every qualifying business can access. Your offer depends on underwriting and business performance. No universal turnover-to-funding formula was verified. Compare the amount actually offered with your funding requirement: a smaller advance may leave a project underfunded, while accepting more than needed can increase the fee.

Can a recently established business qualify for Retail Capital funding?

A pre-revenue start-up would not meet the published criteria. The calculator page lists R50,000 or more in monthly turnover, three to six months of continuous turnover and at least six months of ownership. The application portal uses “more than” R50,000, three months of turnover and six months of ownership. If you are at a boundary, confirm eligibility; three months of sales alone does not satisfy the separate ownership requirement.

Does strong business turnover compensate for a poor credit record?

Strong turnover does not remove the credit assessment. GoTyme considers credit alongside business history and performance, but no universal minimum score or acceptance rule for adverse credit was verified. Before applying, ask whether checks cover the business, its owners or both, and how defaults or judgments affect eligibility. Compare these requirements across providers rather than assuming turnover-based funding means relaxed credit checks.

Does unsecured funding mean I cannot be personally liable?

The advance is advertised without asset collateral, but that description does not establish whether your agreement requires personal surety. Ask who signs as the customer, whether an owner signs separately as surety and what rights the provider obtains over business receipts. Compare those commitments alongside price: “unsecured” alone does not describe the full contractual risk.

How do I compare Retail Capital’s fixed fee with another lender’s interest rate?

Compare the same net funding amount over a comparable payment period, including compulsory charges and insurance where applicable. A R20,000 fee on R100,000 advanced equals 20% of the advance; it is not a 20% annual percentage rate. An annualised comparison requires the payment amounts and dates. Daily or weekly collections also affect working capital differently from monthly instalments, even where total repayment is similar.

Do turnover-linked payments automatically make the advance affordable during quiet periods?

Collections vary with sales under a turnover-linked arrangement; fixed payments do not automatically fall. Confirm the percentage collected, which receipts count as turnover, any minimum payment and how reduced trading affects the settlement period. The key comparison is cash left after collections and operating costs. Sales can remain strong while profit margins shrink, so a turnover percentage can still place pressure on the business.

Can I settle early, and will I save the remaining funding fee?

The official product FAQ states that there is no early-settlement fee and that a discount may be available. It does not promise a proportional refund of the fixed fee. If you expect an invoice payment or seasonal cash surplus, request settlement figures for those dates and compare them with another provider’s early-repayment terms.

How should I compare a repeat advance with keeping my existing funding?

Further funding may become available as an existing advance progresses and trading remains successful, subject to assessment. Ask whether the new advance runs alongside the existing agreement or replaces it. If it settles the old balance, compare the fresh cash reaching your account, the new fee and the revised collections with the payments otherwise remaining. A larger approved advance does not necessarily mean an equivalent amount of additional spending money.