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Standard Bank Khula Guaranteed Loans

Many small businesses do not have assets to put up as collateral for a bank loan. To assist these businesses, the government’s small business finance agency, Khula, offers them a credit guarantee scheme.

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Company name: Standard Bank

Contact number: 0860 123000 or +27 11 299 4701

Postal address: P O Box 7725, Johannesburg,2000

Physical address: 5 Simmonds Street, Johannesburg

Website address:www.standardbank.co.za

Established: 1969

About:

The Standard Bank subscribes to the Code of Banking Practice, a set of principles governing banking in South Africa and ensuring the highest standards of professionalism, integrity, and fairness. They deliver services through morethan 1 000 points of representation and service 18 sub-Saharan countries and 21countries on other continents, including the key financial centres of Europe,the United States and Asia.

For those who have their own business and are always looking for ways to grow, Standard Bank has developed guides with practical information and advice to assist SME’s and covers issues such as; starting a business, managing growth, marketing and finance.

Mandate:

Many small businesses do not have assets to put up as collateral for a bank loan. To assist these businesses, the government’s small business finance agency, Khula, offers them a credit guarantee scheme.

The scheme is an indemnity to us should the business fail to pay the loan. 50% to 90% of the bank loan can be indemnified under the Khula scheme. The maximum amount that can be approved under the scheme is R3 million.

To qualify for a Khula-supported loan you will need to contribute to your business and this may be as much as 10% of the amount you want to borrow. This contribution can be either cash or equipment that will be used in your intended business.

Applicant criteria:

If you need finance now, you can apply by visiting your nearest branch and speaking to a Business Banker. The following information is required:

Information and documents

Business plan

Details such as the nature of business, product offering, market environment and management skills

Financial information

Personal statement of assets and liabilities for all partners, members and directors
Cash flow forecast
Projected income and expenditure
Amount and source of the business owner’s contribution or stake in the business
How will the business use the finance? For example, capital expenditure or working capital
Sales and purchases budgets

Documents required if buying an existing business

Copy of deed of sale or draft deed
Draft or signed lease agreement for premises

Collateral information

Details of proposed or offered collateral

Other

Credit bureau checks of business and partners

Additional requirements if you have an existing business that has been banking at another institution

Financial statements of the business
Three months’ bank statements
Facilities letter from existing bank
Details of collateral held by existing bankers

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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

FNB Debtor Finance

A non-disclosed, working capital facility designed to afford cash flow acceleration against the security of your debtor’s book.

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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: 1838

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:

A non-disclosed, working capital facility designed to afford cash flow acceleration against the security of your debtor’s book.

Applicant criteria:

  • If you are in manufacturing, distribution or selected services industry
  • If you sell to other companies, trading concerns or institutions but not to individual members of public
  • If your annual sales are in excess of approximately R12 million (this is flexible)
  • If all aspects of administration are soundly managed, especially your debtor’s book

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