“How can I get my hands on a cash injection for my business quickly, without the hassle of extensive paperwork?”
This is a question that many business owners find themselves asking at various points of their journey.
Many small business owners struggle to access funding through traditional banks due to lengthy approval processes and strict collateral requirements.
Easy Advance, a funding solution from Payfast by Network in partnership with TymeBank, simplifies the process by eliminating long wait times and collateral requirements, making funding more accessible and aligned with your business’s cash flow.
What is Easy Advance?
Easy Advance provides South African business owners with fast and flexible capital to support their growth.
In 2024:
- A total of 942 entrepreneurs accessed Easy Advance funding.
- 398 businesses secured funding for the very first time.
- 544 returning business owners reinvested in their success with additional funding.
- On average, businesses received R78,000 in funding.
- Altogether, over R127 million was distributed to empower businesses.
This strong uptake underscores the vital role of accessible funding in the growth and sustainability of SMEs. The Easy Advance business funding offering has been instrumental in empowering business owners, providing a financial stepping stone that helps turn their entrepreneurial visions into tangible successes.
By addressing the unique challenges that South African businesses face, Easy Advance is not just a funding source – it’s a growth partner. The product’s seamless integration with business operations means that owners can focus on what they do best: innovating, expanding and capitalising on new opportunities to advance their enterprises in an ever-evolving economic landscape.
How do business owners use their funding?
South African business owners who use Payfast by Network as their payment solution have used their Easy Advance business funding for the following:
- Purchase stock in bulk at discounted rates
- Invest in new equipment or technology
- Cover short-term cash flow gaps
- Expand operations or hire additional staff
- Increase marketing initiatives
What makes Easy Advance funding different?
Unlike traditional loans, Easy Advance is a Merchant Cash Advance (MCA). Instead of lending money, Payfast by Network and TymeBank purchase a portion of your future business turnover, providing upfront cash without fixed monthly repayments.
How does Easy Advance work?
- Pre-approved offer – Based on your average monthly turnover through the Payfast by Network gateway, you receive a tailored pre-approved offer.
- Example: Payfast by Network purchase R100,000 of your future turnover and advance you R80,000 upfront.
- Flexible repayment – You repay the total amount (R100,000) over time through a Holdback Percentage/Specified Percentage of your Payfast by Network sales.
- Transparent fees – A once-off fixed fee is applied upfront – no interest, no hidden costs, no penalties and no surprises.
- Term – with Easy Advance, you’re in control of how you repay – select a term between 3 – 12 months based on what your business can comfortably manage.
Why choose Easy Advance?
- Pre-approved offers – available to business owners with a minimum turnover of R5,000 per month over the last six months.
- Apply online – through the Payfast by Network portal – no lengthy paperwork or complicated forms. Once approved, funds are transferred to your nominated bank account within 1 working day.
- Repayments – automatically deducted from your Payfast by Network sales – no manual tracking is required.
- No collateral required – your business assets remain secure.
- Predictable Costs – One fixed fee, no interest rates.
- Unrestricted – Use the funds for business growth, stock purchases, marketing, or operational expenses.
Can the funding be settled early?
If you wish to settle your balance early, you’ll receive a discount on remaining fees, reducing your overall cost.
Why business owners trust Easy Advance
Here is what one of our merchants had to say,
“Easy Advance has given us the funding that we’ve needed to buy goods, very effortlessly. The money is in your account the next day after applying for it. The terms are really great.”
Ryan Roberts, Malawi Furniture
Easy Advance is more than just funding – it’s a partnership designed to help your business succeed. If you’ve been with Payfast by Network for six months and meet the turnover requirements, you could already have a pre-approved offer waiting for you.
Take the next step in growing your business today!
