Overview
Bright On Capital is an online peer-to-peer lending platform that provides affordable working capital funding solutions to small and emerging businesses with sustainable growth prospects. The platform serves as an online marketplace connecting SMEs with traditional and non-traditional lenders, including development funding institutions (DFIs), corporate enterprise development funds, and institutional investors.
The platform primarily serves South African small to medium enterprises (SMEs) facing cash flow challenges, particularly those needing quick access to funds for payroll, rent, inventory purchases, or project initiation. As an Authorised Financial Services Provider and Registered Credit Provider (NCRP7586), Bright On Capital offers regulatory compliance and credibility to businesses seeking alternative financing solutions beyond traditional banking.
Key Features
Invoice Financing
Access up to 80% of invoice value with remaining 20% paid when customers settle
Purchase Order Financing
Up to 70% of purchase order value for manufacturing and assembly needs
Quick Approval
Access funding in less than 4 hours when facility is pre-approved
Peer-to-Peer Model
Access to diverse lender network including institutional investors
Working Capital Solutions
Multiple funding products tailored to business needs
Online Platform
Fully digital application and management process
Pros & Cons
Advantages
- No traditional collateral required
- Fast 4-hour funding access
- Flexible repayment terms
- Multiple funding products available
- Regulatory compliance (NCRCP7586)
Limitations
- Limited to South African market only
- Higher costs than traditional bank loans
- Requires reliable customer payment history
- Limited loan amounts compared to banks
- Dependent on invoice/PO quality
Security Features
Registered Credit Provider (NCRCP7586) under National Credit Regulator
Authorised Financial Services Provider ensuring regulatory oversight
Operations under South African lending and financial services laws
Compliance with South African data protection regulations
Pricing & Fees
| Service | Fee | Details |
|---|---|---|
| Invoice Financing | 2% - 6% per month | Rate depends on invoice quality and customer creditworthiness |
| Purchase Order Financing | 3% - 8% per month | Higher rates due to increased risk profile |
| Facility Setup | 1% - 2% one-time | Initial setup and credit assessment fee |
| Early Settlement | No penalty | Can repay early without additional charges |
| Processing Fee | 0.5% - 1% | Administrative processing of applications |
| Maximum Funding | Up to R2,500,000 | Individual loan limits based on business assessment |
Getting Started
Detailed Ratings
Final Verdict
Bright On Capital offers valuable cash flow solutions for South African SMEs struggling with payment delays. While interest rates are higher than traditional banks, the speed and accessibility make it suitable for businesses needing urgent working capital. The regulatory compliance provides confidence for legitimate business financing needs.