Q&A: Cash-flow based lending works with small businesses
Karl Westvig from Retail Capital explains how his company advances loans without demanding collateral
26 August 2021 - 20:23
As it celebrates 10 years of being in business after starting out as a scribble on a napkin, small business lender Retail Capital has disbursed R4.1bn since inception to more than 37,000 clients. It has lent more than R1bn in the past year alone.
But with so many informal traders moving to card payments, CEO Karl Westvig tells Business Day the firm might reach R8bn in disbursements within two years...
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