Does Direct Axis Have Business Loans?
Are you planning to make your business bigger and cannot afford the expenses? Have you considered about asking for help? If that is your case, you are in the right place. Direct Axis, one of the financial institutions with prestige in the country, has developed a series of loans in order to make sure you and your business can improve and rise in the market.
In the article you will read now, I will discuss each of the loans that Direct Axis has for businesses, which in fact are two. Then, I will go over the contact details of this company, for you to be able to get their services right after you finish reading this.
Direct Axis has two loans which help to start a business or even improve it: Direct plus Loan and Consolidation Loan.
Which are the steps in order to apply for them?
First you begin the application, you select how much money you want from the bank, you approve or not what the company proposes you, you get the funds and you start enjoying life!
You have the possibility of applying through different means: by phone, email, sms or even at a local branch.
What are the requirements for the loans?
-You need to possess an Identity card that shows you are from South Africa
-You need to keep a good credit score with another financial institution
-You need to provide the bank your financial details
- You need to put forward a paper with information about your income
DIRECT PLUS LOAN
If you apply for a Direct Plus Loan, the bank can grant you a maximum of R 250 000, which is highly recommended to big businesses that plan to spend a lot of money in bills and purchases. Of course as we are talking about lots of funds, the bank will require the business to have a collateral to serve as the guarantee of the loan. Moreover, the earnings of the business play a vital role, as it should be superior to R 12 000, amount that need to be earned each month. Finally, the bank will require applicants to possess a property of their own. If you comply with those requirements, you can obtain the loan and start making expensive purchases that your business needs.
CONSOLIDATION LOAN
Applicants that request for this loan are given the opportunity to get a rise in their cash flow, since they are able to get a maximum of R 1900 on a monthly basis. How is that? The business will be asked to make a monthly payment whose interest rates are not subject to changes. Moreover, if the business chooses a long financing period, in the end it will end up paying less for the loan.
One of the main advantages of a Consolidation Loan when it comes to financing a business, is that it can provide support to those business owners that are looking to increase the capital they own. Thus, the loan will consolidate the accounts of the possessors of the business.
Another advantage is that businesses can obtain new assets, properties and also make new investments that will turn into more profits for the enterprise.
Find the best loan of South Africa
Additional information regarding Direct Axis Loans:
-The two loans will follow the laws of the National Credit Act number 34, issued in 2005
-The bank will carry out a research about the financial status of each client before granting a loan
-Once the client begins the application procedure, the bank will grant them an insurance to take care of the funds and give peace of mind to the applicants.
-All the repayments the bank will ask clients to make are fixed
-Clients have the possibility of applying from home, which means they are not required to do the paperwork in person
-The bank is only willing to grant clients amounts that the applicant can repay
-The funds can be obtained in no more than 2 days
-The bank will offer you additional policies to guard you and your finances
-The bank has a phone line that functions every day, so that you can get in touch whenever you feel like
Contacting Direct Axis
In person
One of the bank´s offices are located in Southfield, specifically ay 108 De Waal Road, in Diep River. Its phone number is the following: 86 102 0304. It opens during weekdays 08:00 am to 08:00in the afternoon.
There is another physical office with the same schedule in the area of Cape Town, specifically located at
79450 Mocke Road. This office is in Effindale
-By phone
If you would like to get a Personal Loan, take into account this number:0861 020304.
If you feel like getting a Consolidation Loan, please dial up this number: 0861 243 556.
Both numbers are free and the moment you call, a representative from the bank will give you details and information about the loan you are interested in. However, please bear in mind that when too many people are calling, the lines can collapse and you might have to wait a little bit or it can happen that your call is answered by a machine so that you receive guidance while you wait.
-Online
If you enter the bank´s webpage, you can apply for a loan online, get more details about them and also obtain data about the insurances proposed by Direct Axis for South Africans. In this webpage you can also send a message to the bank´s consultants and receive a quick reply within hours.
To conclude, if you would like to start your business from scratch or if you are looking to make improvements to the business you have already set, you can count on Direct Axis to take care of the costs because their loans are quite effective and will give you the support you need. Try contacting the bank and decide whether you will apply for a Consolidation Loan or a Direct Plus Loan, both of which are excellent choices in order to get the funds you are looking for.
Video Business loan
Questions and answers
Good day, I would like to apply for a business loan of r450 000.00. What do I need for the application?
When somebody asks for a personal loan, that person must support having the financial back up to pay for the money requested. Likewise, banks that grant business loans has the same requirement. The difference is the documents that work for such purpose. All you need is to help the bank corroborate your business is legal and makes sufficient profit.
I need a business loan, what bank do you recommend?
It is possible to find a lot of lending entities with business loans among their products. The thing is that in order to make the best decision, it’s important to have certain points clear. For example, what do you need the money for? If you are about to start your company, Nedbank has a product tailored for such purpose. In addition, they can assist you if you have a well-established business and, you need to improve it. Another fine alternative is FNB. You can read about these companies at this platform to detect which has the financial service you need.
Good day, I require a business loan of r2 million to be paid back over a period of three years to purchase shares in an existing brand. All financials are available for justifications and/or security.
This company, Direct Axis, does not count with that loan quote to lend their clients. In this case, it would be more beneficial for you if you get in contact with Nedbank as they do offer business loans. If you take a look at this lending entity, you may find that amount and also, you will get terms that are made to fit a company profit.
What is interest rate on business loans?
The interest rates corresponding to business loans is approximately of 2.4%, so you will be paying for a business loan in Direct Axis of R 100 000 in 5 years , monthly installments of R 1841
Can I apply for a loan by phone?
Yes of course
Are there options if I can no longer afford the loan?
Yes, refinancing options
How can I get more information about the bank´s policies?
In the bank´s website, by phone or in person at a branch
Recent business loan for r20 000 000
If you pay attention to FNB, you will sure find out they have a great variety of products to help your business grow and expand. As regards loans, you may take advantage of their Business Booster Loan, Business Loan or Business Revolving Loan. Which of this alternatives is right for your company, will depend on what you need. However, any of them will make a positive difference with your finances.
I want to borrow r 50 000.00 for our business, can we pay off the loan before the end of the contract?
When a bank lends money, they count on the client acting in accordance with the terms established in the contract. Sometimes, the company charges penalty fees if the client wants to cancel the loan before due date. It’s advisable to pay attention to that point when signing the contract to make sure they allow the possibility to pay earlier without having to pay for an extra cost. If that’s not an option, it’s up to you to decide if it’s worth to pay off the debt before time and assume that financial cost.
Does DirectAxis have small business loans? I am a very valuable client of DirectAxis and need to find a small business loan to broaden my business as I received the tender from the local municipality.
Even though, DirectAxis does not provide business loans, you can highly benefit from their personal loan and use it to expand your company. These loans are granted for the amount of 200000 rands top and, you can spend 2, 3, 4, 5, or 6 years repaying it. You’ll get an interest rate based on your risk profile but, you should know there’s a maximum rate of 27.75%. If you believe these terms are useful for your needs, you can contact DirectAxis to get your loan.
I need a business loan to do renovations on our business
In your case, as you just need to do renovations, you may have different options. One of them is to work with DirectAxis even though they don’t have this product available. Keep in mind, if you do so, you’ll be getting a personal loan on your personal name and credit history. Another option could be to work with a bank that grants this specifically type of loan for which you’ll receive an offer particularly thought to assist a business. You should analyze which of these options is best for you.
Do you do business loans and up to what amounts?
DirectAxis is not a company that issues business loans. They only work with Personal Loans and, they manage amounts from 5000 rands to 200000 rands. Among their loan products, they also offer Consolidation Loans that help South Africans to get back on their feet when debts seem to be out of control. If you think one of these alternatives can help you, don’t hesitate about getting on contact with DirectAxis to get your loan.
Morning, what is the cost on a business loan of r 100000.00? What is the interest rate on this loan? Is there an extra cost to be paid on a loan?
If you take that loan with DirectAxis, the cost will depend on the terms. Starting, the rate is established taking your personal risk into consideration, however; I can tell you that rates at DirectAxis could be as high as 27 %. Besides, you need to choose the number of installments to know the total cost. Finally, DirectAxis charges R 69 on Service Fee on monthly basis. Simply, you’ll pay monthly installments and, inside each instalment, there’ll also be the interest rate and the service fee.
Good day I’m interested in taking a business loan for a startup registered bee transport business. I do have a 5 year contract in place and tax clearance from Sars. The contract amount I receive per month is r170 000 +. Hope to hear from you asap, I am very eager to start this business. Regards
There are many types of business loans aiming to cover different necessities a company may need. We can mention a type of loan to purchase equipment or another to pay for staff. In the same way, there’re loans to expand the company or, to start it. As you need money to begin your business, you will find a possible answer in a Starter-up Loan that’s offered by Nebdbank. There, you’ll find everything you need to start the company in order and get help to have a successful business
Good day. We are in need of funds to execute two contracts. Can you assist us? The required loan amount is r 1m
Direct Axis does not lend that amount of money; their limit gets to R 200.000. As you need to use the money for business purposes, you would benefit from a company that had worked in that field for some time and, had gathered enough experience to guide you in the best way possible. Some examples of companies are Nedbank or FNB.
Can you finance a new business?
It depends on what you need exactly. Direct Axis can be a good support to get equipment, or decorate the company. But, if you need a bigger financial support, there are other banks that work with business loans. Nedbank and FNB, both have some loans oriented to help business start and grow. If you’re interested on their products, you can go over our platform to read about them.
The refinancing periods are great
I contacted the bank on a holiday, thanks
I obtained a loan to start my business
I have understood the information shared and it was brief to the point thank you and hope you will consider funding cross border clients in botswana
The explanation is clear and understandable