Pollen Finance is a South African fintech business-lender based in Stellenbosch in the Western Cape province. It provides Small to Medium Enterprises with business loans ranging from R50,000.00 to R1,500,000.00. Pollen Finance loans charge an all-inclusive fee of 25% of the amount advanced to a business.
In the past 5 years, they have assisted thousands of South African SMEs with over R1 billion in short-term loans.
Their loan value ranges from R50 000 to R1 500 000 and the funds can be received within 3 days, after completion of the application process.
Application is done within a few minutes on their website by filling in a simple form provided therein.
Step by step application process:
Within a few hours of submitting your application, a Pollen Finance consultant will contact you for the verification of your application. Request the following documents:
After the Pollen assesses your business cash flow, a preliminary loan approval will then be granted. This will lead to the further request of:
It takes Pollen an average of 3 days or less for the money to be deposited to your business account after approval.
Once 50% of your loan has been repaid you may apply for refinancing.
Unlike banks and alternative lenders who charge penalty fees for settling your account ahead of schedule, Pollen may even give you up to 75% discount on fees charged for early settlement.
Once 50% of your capital is repaid, you can access further funds from Pollen.
Pollen only offers short term loans making it not a viable lender when your business is looking for a long term loan to finance a long project.
You need a successful trading history of at least one year and a turnover of at least R1, 000,000 per year to qualify for a Pollen Finance Business Loan.
Therefore startup companies are not catered for by Pollen.
Most small businesses take time to start making a million per year. Even if a company has been trading for more than a year, most small businesses struggle to meet over R1 million yearly turnovers.