Disbursement Method: Direct EFT
Genfin transfers loan proceeds via Electronic Funds Transfer (EFT) directly to the business bank account from which your statements were submitted. This ensures:
- Funds land in the account your business actually uses for operations
- There is no third-party or personal account workaround
- The transfer creates an audit trail consistent with your bank statements
Disbursement timeline:
| Stage | Typical Timeframe |
|---|---|
| Loan agreement signed | Day 0 |
| Internal processing | Same day (business hours) |
| EFT initiated | Within 24 hours of signing |
| Funds cleared in your account | Within 24 hours of EFT |
In practice, applications signed before noon on a business day frequently result in same-day disbursement. Applications signed late in the day or on a Friday typically clear the following business morning.
Account Requirements for Receiving Funds
- Must be a South African business bank account in the name of the registered entity
- Account must be active and in good standing
- Internet banking or branch access to verify receipt is recommended
- Genfin will not transfer to personal accounts, overseas accounts, or third-party accounts
What Happens After Disbursement
- You will receive an email or SMS confirmation of the transfer
- Your Funding Analyst remains available throughout the loan term
- Repayment debit orders begin on the agreed date (typically the first repayment date specified in the loan agreement)
- You can track your loan balance and repayment schedule through Genfin's online portal (see Business Dashboard section)
No Cash Disbursement
Genfin does not offer cash disbursement at any point. All funds are transferred electronically. This is standard practice for registered credit providers operating under the National Credit Act.