Renati Capital partner with financial institutions, capital providers, financiers, SMME Funds and Corporate and Big Business to facilitate and structure access to credit for SMME’s. It uses the Moneyit platform to deliver the administrative and management service required by all the parties to securely make credit available to the SMME’s. The SMME funding is a partnership between financiers and business. Once a business is approved by a financier for credit factoring the business is listed on Moneyit as an “approved business”, which means SMME’s qualifies for credit against amounts owed to them by the approved business.
A SMME can register and open a trade credit account on Moneyit for all amounts owed and payable by an approved business. Once registered Moneyit will get a daily updated balance from the approved business for the outstanding amount owed to the SMME. The SMME can have multiple trade credit accounts with multiple approved businesses. The SMME is granted a % of the debtor balance received from the approved businesses as a credit (e.g., 80% of the debtor balance)
A SMME can register and open trade credit accounts for all the amounts owed and due to him for services delivered by an approved business. Moneyit receives daily updated balances from the approved businesses on the outstanding amount owed to the SMME. That means the SMME debtor balance will increase with every processing of a delivery or service delivered. The SMME opens a separate trade credit account for each approved business. The SMME is granted a % credit on the outstanding amount received owed by the approved business, where the % is determined and decided by the financier discounting the approved business debt. (e.g., 80% of the debtor balance amount)
The SMME can load beneficiaries for payments and make payments from the available credit in his trade credit accounts. Where the SMME has accounts with multiple approved businesses, the SMME must select an account to process the payment against. Moneyit has a host-to-host integration with a commercial bank for the processing and payment of Moneyit payment requests. Payments are processed against the financier nominated account or any other account opened by the financier for purposes of the credit funding to SMME’s.
Payments to the SMME from an approved business are made directly into the bank account of the financier who made the credit available to the SMME. Moneyit calculate the capital and interest due and payable by the SMME to the financier. All surplus funds, after settlement of the capital and interest to the financier and 3rd party expenses, is paid to the SMME commercial bank account.
The financier and SMME are provided with comprehensive management and reporting functionality to administer, report, and manage accounts and transaction information.