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Product Guide: Bidvest Business Loan and Advances

Bidvest Business Loan and Advances

Comparison Overview:

  • Product: Business Loan and Advances
  • Minimum Loan Amount: n/a
  • Max loan amount: n/a
  • Min repayment period: 12 months
  • Max repayment period: 72 months
  • APR: n/a

Product Overview

With a Bidvest Business Loan and Advance, you can finance the everyday operations of your business with a working capital loan, or raise funds to inject capital into your business for medium to long term growth. With their asset-based finance, business loans and advances, Bidvest builds strong relationships with the energetic, growth-minded companies who bank with them.

How it works

Choose from the following options

1. Asset-based finance:



2. Working capital loans for your company’s day-to-day operational expenses.

3. General banking facilities

Your applications will be viewed case-by-case, where a repayment structure will be scheduled to suit your business’ individual needs. Bidvest rates are competitive and your loan application will be considered based on your company’s financial standing and credit-worthiness.

Note: Facilities are reviewed year by year and standard credit criteria apply.

More information on each of the products listed above in section 1. Asset-based finance :

Full maintenance leasing

With a full maintenance lease you can cover your company’s vehicles for unforeseen maintenance such as normal wear and tear and all routine services.

Benefits:

With fixed monthly costs, you can stay within budget irrespective of the actual vehicle expenses incurred.

A full maintenance car lease:

  • Reduces your monthly rentals because you pay for usage only
  • Reduces administration
  • Eliminates the risk of losing resale value because you are not responsible for selling the vehicle
  • Enables better cash flow and no there’s no capital outlay
  • Reduces your tax liability because rentals can be claimed as an operating expense
  • Offers flexible agreements where your contract can be restructured according to changing circumstances
  • Improves your asset and gearing ratios
  • Allows acceptance by auditors as being off balance sheet
  • Covers all eventualities except driver abuse, glass and accident damage
  • Allows you to claim VAT on maintenance goods for passenger vehicles
  • Allows you to claim VAT on the total rental for commercial vehicles

Rental finance

This is the ideal option if you receive a travel allowance and want to use the vehicle for a specific period of time and distance, without the ownership of a depreciating asset. It's much like hiring a car for an extended period of time.

Benefits:

The Operating Rental generally provides the lowest cash outflow and the lowest risk:

  • You are able to fix all motoring costs with the exception of fuel expenses, assuming that the prime interest rate remains unchanged
  • You only pay for the portion of depreciation that you agree to use
  • VAT is not included in the purchase price and you only pay VAT on the portion you use
  • There is no risk of lower market resale value since you don’t own the vehicle
  • An operating rental agreement includes a residual value (guaranteed resale value) held by Bidvest Bank, thereby reducing the monthly rental payable
  • You may elect to attach or ‘bolt on’ a maintenance contract to further eliminate any risk such as unforeseen repair bills
  • Ownership is possible but not obligatory, by settling the remaining capital including the residual value

Instalment sale finance

You can pay off your company vehicles and other movable assets over an agreed period of time. The two options Bidvest offers both allow for companies and car allowance recipients ownership at the end of the contract without an upfront deposit. The main difference between the two is the manner in which a deduction against income tax can be claimed.

  • Financial Lease enables you to claim the sum of the actual repayments made during the tax year.
  • Instalment Sale allows you to claim a wear-and-tear allowance plus finance charges. The wear-and-tear allowance is generally 20% per annum (5 years straight-line depreciation).

Commercial property finance

Renovate your commercial, industrial or retail property or re-finance an existing funding structure with a Bidvest competitively priced commercial property financing solution. The Bidvest team is dedicated on delivering a personal and highly responsive service to the finance requirements of executives, property owners and investors.

Why Bidvest?

As a niche bank, they’re able to offer superior levels of personal service, complemented by a dedicated focus on your personal business needs. As a Bidvest Bank commercial property finance client:

  • You’ll receive competitive rates, regardless of the structure, term or size of the commercial property transaction.
  • You have a dedicated account manager and your one point of contact.
  • The processes are explained step-by-step.
  • You are treated with the same high level of service quality and as a valued individual client, whether you’re a newcomer or an experienced and sophisticated property investor.
  • You are guided toward solutions that best suit your individual commercial property needs

Medical equipment finance

As part of the Bidvest medical equipment finance offering, Bidvest will help you obtain access to the necessary technology on terms that suit you. And your practice can continue to grow without the needing to extract large chunks of capital from it.

Why Bidvest?

They build strong relationships with their clients. As a Bidvest Bank medical equipment finance client:

  • You’ll get competitive rates no matter what the medical equipment loan structure, term or size of the transaction.
  • A dedicated account manager focuses on the personal medical equipment finance you need for your specific business.
  • Your account manager is your one point of contact and treats you as a valued individual client.
  • You’ll be guided through the process step-by-step.


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