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Our Services

Financial Products and Services

The financial industry is dominated by large traditional financiers who predominantly focus on sizeable corporate businesses. Smaller companies are often overlooked and neglected. There is a clear need for tailor made financial solutions to enable these businesses to grow and thrive.

Invoice Finance

Invoice finance is an asset-based working capital solution that allows your business to get an advance on cash that is due from customers, instead of waiting for such customers to pay later. In essence, the instrument frees up capital tied up in invoices with long remittance terms.

How Invoice Finance Works

Generate Invoice

After rendering your service or providing goods to your customers an invoice is generated for them.

Send Invoice

You then send your invoice to Mincap in order to get advance capital tied up to the invoice.

Funds Available

Upon due diligence and agreement, funds are made available. This will be a certain percentage of the face value of the invoice, and is usually available within 48 hours.

Your Balance

When your customer pays the invoice, the balance is made available to you, less our service fee.

We offer different types of invoice finance. For example, confidential invoice finance means that customers and suppliers are unaware that the business is being advanced capital against its sales invoice before payment is received, based on the attributes and merits of each business.

Selective invoice finance is a better option for very small businesses as they often experience fluctuations in cash flow. Reliance is on single receivables so it is a cheaper solution than the full turnover finance facility into which every invoice must be factored.

The product helps small businesses meet their short-term cash flow requirements, -e.g. payments of trade creditors, during ordinary day to day trading.

Purchase Order Finance

Purchase order finance is an order form from Mincap issued by the buyer to a seller. Often the seller requires large funds to pay its suppliers in order to produce the goods for the order; a payment which is often required before the production or securing of base stock. In addition, the customer may have lengthy payment terms for the product they are receiving. Cash is often required by the business until they get paid by the customer.

Purchase order finance provides funding to businesses with a purchase order to pay their suppliers. We call it enablement funding, as it funds your cost of sales to enable your business to deliver the goods.

How Purchase Order Finance Works

The enablement funding model has certain procedures in order to mitigate risks and build capacity:

  • The SMME registers a purchase order contract with the Mincap team
  • An expert team is selected to assist in the execution
  • A full due diligence process is done on the purchase order contract
  • Mincap generates a proposal to the SMME in order to enter into a contract
  • The SMME accepts the proposal and its contractual terms
  • An open regulated bank account is registered
  • A risk assessment and mitigation process for financing is undertaken
  • The project execution programme is deployed

Debt Management and Collections

Mincap carries out a function of project managing debt collection and recovery of same for various stakeholders in both public and private sector.

The approach is that of maximizing collection without incurring huge legal fees in achieving same.

The approach involves centralized project management of collection and recovery, which result in cost effective and better turn around for clients.

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