Diamond Card Business Lending
Diamond Credit Facility
This is a free facility that gives your business access to a line of credit which allows you to draw down on available funds without us needing to do an assessment on your business each time.
No Admin Fees
You pay no monthly admin fees for having the facility
Easy Access
You have instant access to a line of credit of up to R5million whenever you need it
Pay Per Use
You only pay for the funds you use and for the time you use them
Settlement
You can settle whenever you want, no early penalties
Management
Your account is managed by a dedicated funding specialist
FAQs
Revolving Credit
The capital amount becomes available after every repayment is made
What happens to my repayment profile each time I draw down?
Each draw down cancels out the existing repayment profile and puts you on a new payment profile based on the total capital outstanding after the draw down
When can and can’t I draw down on my facility?
You are allowed to draw down at any time, other than:
– when you are in arrears on any Diamond product.
– When the Facility is placed on hold.
– 48 hours prior to your next debit order.
How long will a credit facility be available for?
As long as you continue to trade well, the facility is available to you. Please note that you will need to remain linked via your online banking account or online accounting profile (Sage or Xero) to avoid placing your facility on hold.
What would my
instalment and costs
be for the facility?
Every month you pay back 1/6th of the total advanced amount plus the monthly cost. For the first 2 months, monthly costs are 3% – 6% of the capital amount drawn down and 2% for each of the remaining 4 months.
Help
LOST OR STOLEN CARD
Diamond Cards can be stopped on *120*DIAMOND# under option [3] or call 0861 111 300 and follow the voice prompts.
Help
FORGOTTEN PIN
Diamond Card PINs can be reset on *120*DIAMOND# under option [3] or call 0861 111 300 and follow the voice prompts.
