Genuity - finance to grow your business
Our company was founded back in 2006, and today is proud to be a company that specialises in funding, risk and advisory services throughout the country.
Genuity’s vision is to unlock growth for all our stakeholders which will ultimately lead to improving the economy for all South Africans. You can find our Head office in Ridgeside, Umhlanga where we service all our clients throughout the country.
Why choose leasing finance?
In today’s tough economic climate, statistics show that financing is on the increase for clients with small businesses. This is largely due to the fact that after deductions, businesses are having to watch every last round from their net takings.
Cash flow is not as high as it should be, but if you choose to the business finance through us, we will help to unlock the potential in your business and further develop it.
Our efficiencies are at 90% for credit & 75% client approval. This translates to customeracquisition with a low cost of doing business.
Experienced and professional team
Our customer experience is high due to our experienced and always a professional team that stands by for your every financial need. Where risk management is concerned, we’re at 0.3% impairment in 9 years, which means we own the track record in risk management and responsibility.
Value based products
We aim to build a legacy of sustainable concepts around value-based products and services. We rely on repeat business and have an exemplary track record of client retention.
Our main aim is to aid clients in identifying risks so that they are able to avoid them in the future by assessing the severity and probability upfront.
Versatile financial functions
At Genuity, we offer the funding for software, labour, reticulation and other intangible costs. It’s through these offerings that we retain our unique reputation in the lending industry.
Today we find that equipment is primarily being financed through leases rather than through business loans from the bank. Leasing is obviously quite a versatile financial function that allows for any asset really to be purchased and leased.
Benefits of using capital
The decision makers of all things financial from firm to firm, are discovering that earnings are derived from the use of assets and not simply from the ownership of that asset.
Capital can often be of huge benefit when choosing to reinvest into one’s own working capital. One can also go on the famous cliché of buying that which appreciates and lease that which depreciates.
What are the benefits of leasing finance?
Well first and foremost, it’s great for productivity and competition. Also, when you think of liquidity, there are no deposits necessary and therefore assists with cash flow. You can expect to preserve your capital by maximizing your return.
Savings are up due to the discounts that vendors might offer you and the tax deductions you will receive.
It’s not only flexible in its tailored the approach to suit your budget and cash flow, but it’s also convenient for saving you time where the admin and leasing plans are concerned.
You aren’t at such a risk because you are mitigated to a single credit line or short-term loan that places too much demand on your business to repay fast. Ultimately, you have peace of mind every night when you call it after a long day at work because you know that you have been exposed to full transparency and no unnecessary fees have been charged to you.
Genuity Business loans
- Loan Type Business loans
Benefits of Genuity
- Apply for a business loan online
- Get approved fast
- Competitive interest rates
Business loans calculator
Genuity - Lets grow your business together
Understanding the history of leasing, financing
What is a lease exactly? It’s a formal contract between two parties, one being the lessor and the other being the lessee, whereby the lessor allows the lessee to exclusively use an asset in exchange for the commitment to pay a series of rental instalments over the term of the lease.
Our application process:
When you apply for credit through us, you need to submit your application and supporting documents. Once received, we review the application for approval. On approval, we will correspond with the client by means of a quotation which the client needs to accept.
Should the client accept, a supplier invoice with instructions will be issued out? As soon as the invoice is received, the documents get drawn up for client signature and once signed, the proof of delivery, insurance and payment is sent to the supplier
Renew or extend your lease
At the end of the lease, the lessee will be presented with the option to renew or extend the lease, and in some cases even procure the equipment (for a nominal value) known as a bargain purchase option.
The final option is to terminate the agreement and return the equipment. This part of the process is imperative for tax purposes. As one needs to determine the disclosure of the lease for accounting purposes.
Transparency is key
The International Accounting Standards Board issued a new accounting Standard IFRS 16that replaces the old requirements and all companies have until the end of 2018 to get their compliance in order.
What this now means is that companies will need to be more transparent and it aims to improve on the comparability between companies that were investors and stakeholders are concerned. They are now exposed to a far clearer portrayal of a company’s assets.
The old accounting standard allowed for inconsistencies in the leases where you couldn’t entirely distinguish on balance sheets which leases were finance leases vs operating leases.
Full maintenance lease
When it comes to leased items that can or would require servicing, such as a vehicle or office equipment, then companies generally draw up full-maintenance leases. However, if the lessee is responsible for the servicing of the item leased, then it’s referred to as a net lease.
We commonly see residual leasing products in the motor industry, and these agreements are driven directly by competition, but they are still required to adhere to the new accounting standards.
Leases can truly be defined as the flexible tools of business finance, due to their tailor-made approach when it comes to the client taking out the lease. It’s tailored to adjust and cooperate with the needs that suit the duration of the lease, which also allows for lower initial lease payments, and annual escalations.
It means little or no deposit and a monthly or quarterly frequency when it comes to the payments made. These payments can be calculated variables are fixed and can even go so far as to include a “residual value” to lower repayments etc monthly
Customer Reviews & Testimonials
Everything was clear and explained to me in a way that was easy to understand.
— Pretoria —
Applying was very straightforward and easy, which I appreciate.
— Pietermaritzburg —
I just had to send a big thank you to everyone at Genuity who helped me with my business loan. Thank you for your proficiency and professionalism.
— Johannesburg —
The customer consultant who helped me with my business loan deserves a medal! I can’t say when last I experienced such professional, top-class customer service! He explained everything to me and ...
— Bloemfontein —
- Suite 204, 41 Richefond Circle, Ridgeside Office Park, Kwa-Zulu Natal, Umhlanga, 4391, South Africa South Africa
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- PO Box 818, Umhlanga Rocks, Kwa-Zulu Natal, 4320, South Africa
- Monday 08:00 – 17:00
- Tuesday 08:00 – 17:00
- Wednesday 08:00 – 17:00
- Thursday 08:00 – 17:00
- Friday 08:00 – 17:00
- Saturday – Closed
- Sunday – Closed