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Before an SME will be given access to the platform, they will have to answer 3 prequalifying criteria questions:

1. Has the business been in operation for at least a year?

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2. Does the business have an annual revenue of more than R500 000

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3. Is the business located in South Africa?

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Process

1. Send Company profile with a minimum annual turnover of R500 000 to support@funderjet.co.za


2. Reviewed by the credit department before granting access to the QR code for applications


3. A QR Code is sent for affordability calculations and to sign up as a borrower on the FunderJet platform

​Documents needed from SME:

  • 3 months bank statements

  • Latest Financials and management accounts

  • Financials of shareholders

  • List of Debtors and Creditors.

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In depth Process once QR code access is granted:

1. Repayment calculator – A tool where you enter your loan amount and other details to see the monthly instalments, fees, and other costs, based on a standard interest rate.


2. Personal information verification


3. FICA verification


4. Company information including verification documents 


5. Loan application and supplying of documents for affordability


6. Credit Assessment


7. Quote and Contract signing


8. Loan Fulfilment

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