iKhokha – online loan South Africa
SME funding from R5,000 to R3 million via iKhokha card sales
Applying does not commit you to a loan agreement.
iKhokha business funding in South Africa
iKhokha Capital is a merchant cash advance product for small businesses that already use iKhokha card machines for in-store payments. Amounts range from R5,000 to R3,000,000 and are repaid from a percentage of daily card sales, typically 10% to 20% of takings.
Eligibility is automatic for active iKhokha merchants with 3 or more months of card transactions. The funding offer appears in the iKhokha app once you qualify. No bank statements or business financials are required. Approval is instant and money is paid into the linked business account within 24 hours.
The cost is shown as a fixed total repayment, not an interest rate. A R100,000 advance with a 1.18 factor rate means you repay R118,000 in total. The factor varies from 1.10 to 1.30 depending on merchant risk and term. There is no fixed monthly instalment, repayment scales with sales which protects cash flow in slow months.
✓ Pros
- Instant approval for active merchants
- No bank statements needed
- Scales with sales, easier in slow months
- Money in 24 hours
✗ Cons
- Only for iKhokha card machine users
- Effective cost can be 30%+ APR
- Must have 3+ months trading history
Loan example
A R50,000 advance with a 1.18 factor means you repay R59,000, deducted at 15% of daily card sales.
Loan requirements
- ✓ Active iKhokha merchant
- ✓ 3+ months of card transactions
- ✓ SA-registered business or sole proprietor
- ✓ Director or owner ID
- ✓ Linked business bank account
Loan features
- Funding R5,000 to R3,000,000
- Repayment from card sales
- No fixed monthly instalment
- Term 3 to 18 months
Frequently asked questions
24 hours after submitting your application.
The minimum amount at iKhokha is R5,000.