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Standard Bank – Debtor Finance

This is a form of finance to obtain the working capital needs of growing businesses.

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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:

This is a form of finance to obtain the working capital needs of growing businesses. We purchase approved trade debtor invoices with an agreed portion, usually 75%, being paid at the time of purchase and a similar portion paid on all future approved trade debtor invoices.

Applicant criteria:

  • Minimum turnover of R200 000 a month
  • Receive repeat orders from your customers
  • Sell on credit terms not exceeding 120 days
  • Trade with suppliers of sound financial standing
  • Have few trade disputes
  • All financial controls and administration should be fully computerised, allowing you to produce a monthly income statement and balance sheet.

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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 Khula Loans

Do you have a great idea for a small to medium sized business, but don’t have enough to offer the bank in order to obtain a loan?

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Company name: Absa

Contact number: + 27 11350 4000

Postal address: PO Box 7757, Johannesburg,2000.

Physical address: 170 Main Street, Johannesburg.

Website address: www.absa.co.za

Established: 1997

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:

Do you have a great idea for a small to medium sized business, but don’t have enough to offer the bank in order to obtain a loan? Want to buy into an existing business, but lack the capital to do so? Absa, in conjunction with Khula Credit Guarantee, can help you achieve your dreams.

Applicant criteria:

  • Are looking to start your own small business, expand an existing business or buy into another business
  • Lack the sufficient security required to obtain a normal loan or credit
  • Have the necessary skills and/or experience in the business area you wish to take advantage of
  • Have a well-researched business plan, and would like to be mentored in how to obtain business finance
  • Need a minimum loan of R10 000 or a maximum loan of R350 000
  • Are a South African citizen and intend to only do business within South Africa
  • Are able to put forward a contribution that is at least 2.5% of the loaned amount

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