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FNB Leveraged Finance

Finance for businesses that can demonstrate sustainable and predictable cash flows and that require finance for an acquisition, and more.

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Company name: First National Bank

Contact telephone number: 0860 11 22 44

Postal address: P.O. Box 1153, Johannesburg

Physical address: 1 First Place, First National Bank Bank City
Cnr Simmonds and Pritchard Streets, Johannesburg

Email address: info@fnb.co.za

Website address: www.fnb.co.za

Date established: 1971

About:

A landmark development in FNB’s history took place in 1998 when the financial services interests of Rand Merchant Bank Holdings and Anglo American were merged to form FirstRand Limited. In the process, FNB was delisted from the JSE on 22 May 1998 to become a wholly-owned subsidiary of FirstRand, which was listed on the JSE on 25 May 1998. On 30 June 1999, the banking interests of FirstRand formally merged into a single entity to form FirstRand Bank. FNB, WesBank and RMB now trade as divisions of FirstRand Bank.

Mandate:

Finance for businesses that can demonstrate sustainable and predictable cash flows and that require finance for an acquisition, and more.

Applicant criteria:

  • The business must have sufficient assets and free cash flows to support the term loan.

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Banks

FNB Business Loan

FNB Business Loan for small businesses to get you going.

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Vital Stats

  • Company name: First National Bank
  • Contact telephone number: 087 575 9479
  • Postal address: P.O. Box 1153, Johannesburg
  • Physical address: 1 First Place, First National Bank Bank City
    Cnr Simmonds and Pritchard Streets, Johannesburg
  • Email address: info@fnb.co.za
  • Website address: www.fnb.co.za
  • Date established: 1971

About

Suited to FNB Business Account holders looking to raise capital to inject into a business for growth or expansion purposes, acquire assets or additional business opportunities, or finance other business-related expenditure over the medium term.

Resource: DTI Funding

What you get

  • Flexible terms: From 3 months to 5 years with a minimum loan amount of R2 000
  • Optional loan security: You may not be required to provide security for loans of up to R400 000
  • Automatic payments: Pay using debit a order from your business account
  • Amortise capital: Pay less interest over time
  • Set interest rate: Budget and plan for the term of the loan

Qualifying Criteria

An active FNB Business Account in good standing, operating for 15 months or more, with annual turnover of R500 000+.

Documents needed

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Banks

Nedbank Premium Finance

Nedbank Premium Finance has been offering cost-effective financing solutions for annual short-term insurance policies for almost a decade.

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Company name: Nedbank

Contact number: +27 11294 4444

Postal address: PO Box 1144, Johannesburg,2000

Physical address: 135 Rivonia Road,Sandown, Sandton, 2196

Website address: www.nedbankgroup.co.za

Established: 1971

About:

Nedbank Group Limited is a bank holding company, with its principal banking subsidiary being Nedbank Limited. The company’s ordinary shares have been listed on JSE Limited since 1969 and on the Namibian Stock Exchange since 2007.

Nedbank Group is South Africa’s fourth largest banking group measured by assets, with a strong deposit franchise and the second largest retail deposit base.

The group provides a wide range of wholesale and retail banking services and a growing insurance, asset management and wealth management offering through five main business clusters, namely Nedbank Capital, Nedbank Corporate, Nedbank Business Banking, Nedbank Retail and Nedbank Wealth.

Mandate:

Nedbank Premium Finance has been offering cost-effective financing solutions for annual short-term insurance policies for almost a decade.

Applicant criteria:

Contact Nedbank for further information

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Banks

Absa Enterprise Funding

Are you an aspiring black entrepreneur with a great business idea, but lack the knowledge to get it going?

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Vital Stats

  • Company name: Absa
  • Contact number: + 27 11 350 4000
  • Postal address: PO Box 7757, Johannesburg,2000.
  • Physical address: 170 Main Street, Johannesburg.
  • Website address: www.absa.co.za
  • Established: 1991

About

The Absa Group Limited (Absa), listed on the JSE Limited, is one of South Africa’s largest financial services groups offering a complete range of banking, assurance and wealth management products and services. Absa’s business is conducted primarily in South Africa. It also has equity holdings in banks in Mozambique and Tanzania and representative offices in Namibia and Nigeria.

Mandate

Are you an aspiring black entrepreneur with a great business idea, but lack the knowledge to get it going? Maybe your circumstances don’t let you qualify for normal bank credit despite having a potentially profitable business opportunity? Then the small and Medium Enterprise Fund offered by Absa, may address your needs.

The Small and Medium Enterprise Fund will arrange business finance from R10 000 to R1 500 000 to suit your business funding needs (Note: maximum and minimum loan amounts differ according to province). You may require finance for working capital, business expansion, and bridging requirements to execute tenders or contracts.

Applicant criteria

  • Your business will have 100% BEE ownership
  • You will be involved in the business on a full-time basis
  • You do not qualify for traditional bank credit due to a lack of a credit rating, security or your own capital
  • You require a loan that is no more than R500 000/R1 500 000
  • You would like transactional bank facilities and electronic bank solutions
  • Are happy to bank only with Absa
  • Your work is dependent on being able to guarantee your business products and services.

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