Programme: Merchant Factors Cash Flow Finance
Organisation: Merchant Factors
Type of Support
Programme Description
Here, invoice finance is provided for amounts ranging from R250 000 to R30 million. 75% of the amount on an invoice is paid out to participants, and the balance is paid when the client settles the outstanding amount. Interest is charged at between 2% and 3% above the prime lending rates. There is also an administrative rate which ranges from 0.5% to 2.5%.
Target Market
Small and medium enterprises. It should be noted that this applies for sales on credit terms not exceeding 120 days.
Application Process
Applicants must complete the application form online or download one. They then enter into a contract in which they agree to factor their credit sales.
Success Stories
Contact Details
Head Office Physical Address:
Cape Town
Contact person, Stuart Crooks
4th Floor Merchant Place
55 Loop Street, Cape Town 8001
Telephone: 021 466 5244
Fax: 021 424 3784
Email: stuartc@mfactors.co.za or
Laura Beylefeld, email: laura@mfactors.co.za
Gauteng
Contact person: Charles Ferguson
Penthouse 6, 3rd Floor Thebe House
166 Jan Smuts Avenue, Rosebank, 2196
Telephone: 011 447 2513
Fax: 011 880 0167
Email: mfact2@mweb.co.za
Kwa-Zulu Natal
Contact person: Ross Bray
Ground Floor, Kelly Group House
39 Florida Road, Durban 4001.
Telephone: 031 312 2360
Fax: 031 303 3386
Email: mfact1@mweb.co.za
Organisation: Merchant Factors
Type of Support
- Funding.
Programme Description
Here, invoice finance is provided for amounts ranging from R250 000 to R30 million. 75% of the amount on an invoice is paid out to participants, and the balance is paid when the client settles the outstanding amount. Interest is charged at between 2% and 3% above the prime lending rates. There is also an administrative rate which ranges from 0.5% to 2.5%.
Target Market
Small and medium enterprises. It should be noted that this applies for sales on credit terms not exceeding 120 days.
Application Process
Applicants must complete the application form online or download one. They then enter into a contract in which they agree to factor their credit sales.
Success Stories
- In-House Crown Logistics has experienced growth due to the assistance rendered by Merchant Factors according to Charl du Toit.
- Paul Issa of Buccaneer Shoes has dealt with the organisation and it has provided solutions to his working capital requirements.
- Keith Steinberg of Leclite (Pty) Ltd, an importer and distributor of electronic appliances and furniture finds it preferable to deal with Merchant Factors as the business will have a steady in flow of cash without waiting for their debtors to pay in 60 to 90 days.
Contact Details
Head Office Physical Address:
Cape Town
Contact person, Stuart Crooks
4th Floor Merchant Place
55 Loop Street, Cape Town 8001
Telephone: 021 466 5244
Fax: 021 424 3784
Email: stuartc@mfactors.co.za or
Laura Beylefeld, email: laura@mfactors.co.za
Gauteng
Contact person: Charles Ferguson
Penthouse 6, 3rd Floor Thebe House
166 Jan Smuts Avenue, Rosebank, 2196
Telephone: 011 447 2513
Fax: 011 880 0167
Email: mfact2@mweb.co.za
Kwa-Zulu Natal
Contact person: Ross Bray
Ground Floor, Kelly Group House
39 Florida Road, Durban 4001.
Telephone: 031 312 2360
Fax: 031 303 3386
Email: mfact1@mweb.co.za
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