LendLink Review

LendLink is a brokerage company that assists small and medium-sized enterprises (SMEs) in South Africa in obtaining business loans to support their growth. Recognizing the significant role SMEs play in the South African economy, LendLink aims to provide these businesses with financial solutions that are often unavailable through traditional financial institutions like banks.

Mission and Approach

LendLink focuses on delivering value-driven services tailored to the needs of SMEs. They prioritize transparency, honesty, and a straightforward loan process, ensuring no hidden fees or misleading offers. Their approach is to handle the entire application process, making it easy and stress-free for business owners, allowing them to focus on growing their businesses.

Application Process

The application process at LendLink is designed to be quick and efficient:

1. Online Application: Complete a simple online form.
2. Bank Statements: Submit the last six months of bank statements.
3. Loan Offers: Receive and review provisional offers from potential lenders.
4. Loan Approval: Choose the best offer, sign the agreement, and receive funds within three days.

Eligibility Criteria

To qualify for a business loan through LendLink, SMEs must:

• Have been in operation for at least 12 months.
• Generate a minimum monthly turnover of R45,000.

Loan Features

• Loan Type: Business loans
• Loan Amount: Up to R5,000,000
• Approval Time: Within 3 days
• Fees: Transparent brokerage fees ranging from 1% to 3% of the loan amount, applicable only upon successful loan acquisition.

Industries Served

LendLink caters to a wide range of industries, including:

• Retail, supermarkets, and franchises
• Restaurants and hotels
• Automotive, health, and beauty sectors
• Child care, medical, and manufacturing
• Accounting, entertainment, and construction

Benefits of Choosing LendLink

• Fast and affordable loans
• Simple application with no paperwork
• No hidden fees or costs
• Quick approval and disbursement within 3 days

Documentation Requirements

While LendLink simplifies the application process, the required documents may vary depending on the lender. Commonly required documents include:

• 6 to 12 months’ bank statements showing company turnover
• Up-to-date management accounts
• Company CIPC documents
• Verification from your landlord if renting premises

LendLink positions itself as a reliable partner for South African SMEs seeking business loans. By offering fast, transparent, and affordable loan solutions, they help businesses overcome financial challenges and drive growth in various industries.