Line of Credit

A line of credit is simply a revolving credit facility. You can think of it as a credit card for your business, except there is no actual plastic card involved. Credit cards typically have lower limits and heavily penalise you for withdrawing cash instead of swiping them at merchants. A line of credit from Bridgement is better suited to businesses as you could qualify for a much higher limit up to R5-million. Additionally, a Bridgement line of credit is specifically designed for withdrawing funds into cash helping you avoid the penalties you’d be charged on a credit card.

Bridgement charges a single, simple fee for each withdrawal you make from your line of credit. This fee will be your total cost of finance (there is no other interest of fees charged) and it will depend on a number of factors including your business situation, credit score and trading history. Our flat monthly fee starts from as little as 1.7%. Our pricing is completely transparent and upfront – there are no other fees or hidden costs and you will always know your total cost of finance.

A line of credit is a great solution for ongoing working capital needs. Such a credit facility allows your business to withdraw funds as and when you need them, helping you avoid unnecessary finance costs and lock-in periods you’d typically see with a term loan for your business. What’s more, bank financing can take months to get approved. A Bridgement Line of Credit offers South African business owners a convenient, fast and flexible way to improve cash flow on an ongoing basis without the need to have to reapply for finance every time a need arises. The online application process is quick, simple and headache-free.