Bright On Capital

Bright On Capital is registered with the National Credit Regulator. The NCR is a government body aimed at enforcing fair and responsible lending practices.

This black-owned finance company understands that having a small business in South Africa is challenging and needs some financial backing to succeed. Sustainable business is the backbone of every country's economy.

Bright On Capital’s mission

Bright On Capital has made it its duty to help small to medium businesses in South Africa grow and become successful, through affordable finance options.

To accomplish its mission Bright On Capital has partnered with some big names to make sure you get the best deals. African Bank, RMI and Glencore are some of their partners.

The partners that chose to work with Bright On Capital should reassure you that they’re a strong and reliable company.

Bright On Capital differs from traditional banks by focusing on small businesses. Being experts in small business finance, they tailor their services to suit you.

Starting a business is a stressful undertaking. Financing a business is an even more stressful undertaking. Brighton Capital understands this and they have streamlined the process to make it simple and fast.

Reviews that promote trust

It’s easy to see what a company is all about when you look at its customer reviews. There are videos of happy customers for you to watch and enjoy on the Bright On Capital website. Their Facebook page not only has happy customer reviews on it, but it’s full of useful advice.

The difference between Bright On and a more traditional financing institution, like a bank, is what they require from you to approve a request for credit.

Bright On believes that it can support up-and-coming businesses. Despite their desire to support newcomers, they are still responsible lenders and will not loan you money if you cannot afford the repayments.

The requirements that banks put in place are there to protect the bank, but it disqualifies a lot of the small businesses in South Africa.

Especially newer businesses. The founders of Bright On Capital saw the need for small businesses to have financial options and they’ve delivered those options since their inception.

Bright On Capital provides a few different finance options. We’re going to focus on purchase order finance.

What exactly is purchase order finance? Well simply put, it’s money that you need to complete a job you have the go-ahead for. Whether it’s to purchase materials or products to complete the job.

What your business offers will determine what kind of purchase order loan you need. Do you produce goods, purchase materials and assemble stock?

Then you’ll find a purchase order loan for manufacturing and assembly helpful. Your loan amount will be paid within 24 hours and covers 70% of the purchase order amount.

For example, if you apply and have a R100 000 purchase order to manufacture office shelving, Bright On Capital will forward up to R70 000 to enable you to get materials.

On the other hand, if you supply ready-made merchandise like T-shirts or office equipment, then the purchase order loan for supply and delivery is the one you’d choose. The two loans are very similar but one is for manufacture, while the other is for supply.

There’s a handy slide that you adjust according to your needs and it’ll give you a clear indication of what you’ll receive, what fees you’ll be liable for and what the interest cost will be. That makes it easy for you to decide if the loan works for you or not before you even apply.

How your purchase order finance is repaid

You’ll become liable to repay the loan when your client pays the invoice or invoices. So once the work is completed and you’ve been paid, the loan becomes due. That way you do not need to worry if the client was meant to pay by the end of the week but only pay a few days later.

What other services does Bright On Capital offer?

They have contract loans, which are for companies that have a contract to provide a service or product for six months or more. This type of finance gives you access to funds to honour the contract while working to grow your business.

Invoice finance is similar to purchase order finance, however, it is based on what invoices you have to collect. For example, your monthly invoices come to R100 000 but they’ll only be paid in the next month but your rent is due now. You can take a loan based on the invoices which are due to you.

Buy Now Pay Later is Bright On’s credit facility. You can access credit from R20 000 to R250 000 to make purchases for your business from Bright On partners. With 90 days to repay the amount, it gives you time to complete the job.