KM
Katlego M

1 reviews | Active since Feb 2025

20 Feb 2025, 17:23

Capitec Merchant loan

Last year November I purchased a Capitec mechant machine for card payments and because they have a less period of three months to fund a my business which I though was great especially if I'm going to need some emergency cash for my business. On the 20 of February I called on how to apply for a merchant loan but it seems as if no one had information about that as they kept transferring me from one person to another, then finally someone told me that if I make less than R6500 in the merchant then I won't be able to quality for thr loan, so this is false advertising because that is never mentioned and it only caters for businesses that are doing well only. What is the point of using a merchant that can't cater for customer's needs, why are the loans only available for certain customer's only. Why allow small businesses to purchase the machines knowing well that it won't help them, why not make loans according to the turnover of the businesses because all business are not the same and each and every business should benefit from your services as your customer's.

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Replies (1)
Capitec Bank
Capitec Bank's reply20 Feb 2025, 19:02
Official
Good day Katlego, Thank you for letting us know of your concern, and for your patience while we explore this matter. We have assigned your query to a designated official who will contact you within the next business day. Kind regards Capitec Bank.