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Thrive Fund

Thrive Fund

Purchase Order Funding

Riversands Thrive Fund™ Product

Purchase Order Funding

Purchase order funding has become a popular way to finance a company that has received a large purchase order from a customer. This is one step before the invoice is generated. A purchase order loan bridges the gap between order and payment and has the advantage of being faster and easier to obtain than a traditional bank loan.

A purchase order loan is based on the creditworthiness of your buyer (customer) and your business, with the purpose to:

  • Help wholesalers and distributors who resell products to commercial customers.
  • Assist companies who need funds to pay suppliers.
  • Help companies grow past their financial limitations.

Advantages

  • It’s easier to get than from traditional lenders.
  • It can be set up quickly.
  • The credit line can grow with your revenues.
  • It’s available to small companies (and start-ups, in some cases).
  • The size of the line is limited only by the capabilities of your suppliers, the credit quality of your customers, and your ability to deliver orders.

Disadvantages

  • It only helps companies that supply and deliver finished goods that don’t require manufacturing, assembly, installation, or customization.
  • It only covers direct supplier expenses.
  • It only works in transactions that have high gross margins of 20% or more (with exceptions).

Criteria:

  • Purchase orders between R 50,000 and R 300,000.
  • The business is currently operating and generating revenue.
  • Be a registered South African entity and not deregistered, with a fixed physical address.
  • The business has employees who are paid every month and on time.
  • Demonstrate the capacity to pay back the loan within 45 days from submission of invoice.
  • Funds will be transferred directly to the supplier.
  • The application must be accompanied by a minimum of 3 quotes.
  • Demonstrate a 24 month trading history.
  • The applicant must be active in the business and be the majority shareholder.
  • The business has solid viability prospects for the next 12 months.
  • The business must have worked with the purchase order client before.
  • A minimum of 20% margin on the purchase order.
  • The business must be registered with the South African Revenue Service (SARS), and be tax-compliant.
  • Applicants should demonstrate capacity to manage their business finances.
Apply here

Equipment Finance

Riversands Thrive Fund™ Product

Equipment Finance

Primarily this product is for organizations who are on a growth trajectory and require new equipment to increase their capacity and improve efficiencies. The client will be able to use the debt to purchase and ownership would be transferred once all payments have been made.

Criteria:

  • Asset finance between R 25,000 and R 300,000.
  • No deposit required.
  • The business is currently operating, generating revenue and profitable.
  • Be a registered South African entity and registered with a fixed physical address.
  • The business has employees who are paid every month and on time.
  • Repayment periods up to 18 months.
  • Demonstrate a 24 month trading history.
  • Funds will be transferred directly to supplier.
  • The applicant must be active in the business and be the majority shareholder.
  • The business has solid viability prospects for the next 24 months.
  • The asset is aligned to business model and will catalyse business growth and job creation.
  • The business must be registered with the South African Revenue Service (SARS), and be tax-compliant.
  • The applicant should demonstrate capacity to manage their business finances.
Apply here

Working Capital

Riversands Thrive Fund™ Product

Working Capital

Working capital finance is a facility that is taken out to address the short-term operational needs of a business, which include, but are not limited to, salaries, rent and debt repayments. The facility assists in closing one cash-flow gap due to late payments from clients, or other extraordinary events.

Criteria:

  • Working capital finance between R 10,000 and R 50,000.
  • The business has employees who are paid every month and on time.
  • The business is currently operating, generating revenue and profitable.
  • Be a registered South African entity and not deregistered.
  • Demonstrate a 24 month trading history.
  • Demonstrate the capacity to pay back the loan within 12 months.
  • The applicant must be active in the business and be the majority shareholder.
  • The business has solid viability prospects for the next 12 months.
  • The applicant should demonstrate capacity to manage their business finances.
  • The business must be registered with the South African Revenue Service (SARS), and be tax-compliant.
Apply here

Documentation required for applications:

Identification, Bank Statements (6 months), Proof of Residence, CIPC Certificate, Offtake Agreement, B-BBEE Status, Tax Clearance, Purchase Orders.

Exclusions across all financing formats:

  • Sin businesses involved in or associated with alcohol, tobacco, gambling, X-rated related industries, and weapons.
  • Businesses in the entertainment industry, such as pubs, bars, clubs, etc.
  • Businesses that have inherit execution risk will be considered on a case by case basis.
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Disclaimer

The Riversands Thrive Fund™ is a privately held fund, and the decision to approve or decline a finance application is in the sole and absolute discretion of the Riversands I-Hub Credit Committee.

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