| Genfin | Lula | Merchant Capital | Retail Capital | |
|---|---|---|---|---|
| Loan amount | R100k – R5M | R10k – R5M | Up to R5M | Up to R5M |
| Repayment term | 6–24 months | 6–12 months | Flexible (card-linked) | Up to 24 months |
| Monthly rate | From 3.5% | 2%–6% (first months) | Card-percentage model | Variable |
| Interest type | Reducing balance | Reducing balance | Factor/card-split | Factor |
| Application fee | None | None | None | None |
| Early settlement fee | None | None | Varies | Varies |
| Min. trading history | 12 months | 12 months | 6 months | 12 months |
| Min. annual turnover | R1M | R500k | R500k | R1M |
| Decision time | 24 hours | Minutes | 24–48 hours | 1–2 days |
| Disbursement time | 24 hours | 24 hours | 24–48 hours | 1–3 days |
| Collateral | None | None | None | None |
| Entity types | Pty Ltd, CC | Pty Ltd, CC, others | Pty Ltd, CC | Pty Ltd, CC |
| Refinancing | Yes (at 50%) | Limited | Revolving available | Available |
Genfin vs Lula
Lula (rebranded from Lulalend after merging with Access Bank) is Genfin's closest direct competitor. Both offer unsecured SME loans with no collateral and a fully digital application.
- Lula's advantage: Lower minimum turnover (R500,000 vs R1 million) and faster decisions (sometimes in minutes). Better for smaller businesses.
- Genfin's advantage: Higher maximum loan amount (R5 million), longer available terms (up to 24 months vs 12 months), and institutional backing providing stability. Better for mid-sized businesses needing larger capital.
Verdict: Small businesses with under R1 million in turnover should consider Lula first. Businesses needing R500,000+ and a longer repayment horizon are better served by Genfin.
Genfin vs Merchant Capital
Merchant Capital takes a fundamentally different approach — repayment is linked to card terminal sales as a percentage, making it ideal for high-volume retail and hospitality businesses.
- Merchant Capital's advantage: Repayment scales with your revenue — if you have a bad month, you pay less. No fixed monthly instalment pressure.
- Genfin's advantage: Fixed debit-order repayment is more predictable for budgeting. Not limited to businesses with card machines. Interest on reducing balance is transparent and easy to calculate.
Verdict: Card-heavy businesses (restaurants, retail) should evaluate Merchant Capital. Service businesses and those without point-of-sale systems are better aligned with Genfin.
Genfin vs Retail Capital
Retail Capital (part of the TymeBank ecosystem) focuses primarily on businesses in the retail and FMCG sectors and has a strong presence in informal retail.
- Retail Capital's advantage: Deep integration with point-of-sale data; strong support for retail-specific businesses.
- Genfin's advantage: Broader industry coverage, larger maximum loan amounts, and longer terms available.
Verdict: Pure-play retailers may find Retail Capital's data-driven model a good fit. For cross-sector SMEs, Genfin's more flexible approach is generally superior.
Our Verdict: When to Choose Genfin
Choose Genfin if:
- Your business needs R200,000 – R5,000,000
- You want a term longer than 12 months
- You prefer a reducing-balance, zero-fee loan structure
- You operate across any sector (not just retail)
- You want a dedicated analyst and institutional-grade backing