Financial Service Providers

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BIZCO CONTENT

15 March 10 | 01h49


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Below is a list of Financial Service Providers we frequently raise finance from:

We can assist you to submit applications to financial institutions whom we deal with on a daily basis. A handling fee, which is normally a percentage of the finance amount applied for, is charged to submit your financial application to the appropriate Credit Managers. Contact Us today for assistance with your applications.

ABSA offers a full suite of finance products for small businesses, such as Business Cheque Accounts, Commercial Property Finance, Credit Cards, Debtor Finance, Franchise Finance, Secured Asset Loans and Term Loans, among others.

First National Bank offers working capital finance packages to small businesses, ranging from Overdrafts, Debtor Finance, Selective Invoice Finance, Flexi Business Loans to Business Credit Cards.

Nedbank has a Retail Business Unit for businesses with a turnover of less than R7. 5 million, a Business Unit for businesses with a turnover of greater than R7. 5 million and less than R400 million, and a Corporate Banking Unit for turnover above R400 million.

Standard Bank offers among others a range of innovative products, such as Business Revolving Credit, Medium Term Loans, Business Term Loans, Overdrafts, Debtor Finance and Property Finance.

SASFIN provides a complete suite of financial solutions for every stage of the business life cycle. Business owners generally get to deal with the Business Banking and Capital Divisions.

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Debtor Finance is offered by most retail banks to small businesses. Other institutions include:

Merchant Factors offering debtor finance to small businesses involved in the manufacturing, wholesale and services industries.

Regent Factors specialises in receivables financing and factoring services and they are seen at the forefront of Government Procurement Funding to the small business sector.

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The Department of Trade and Industry [DTI]

The purpose of the DTI is to:

Provide leadership to the South African economy through its understanding of the economy, its knowledge of economic opportunities and potential, and its contribution to ASGISA.
Act as a catalyst for the transformation and development of the economy and respond to the challenges and opportunities of the economic citizens, in order to support the government's economic goals of growth, employment and equity.
Respond to the challenges and opportunities in the economy and society.
Provide a predictable, competitive, equitable and socially responsible environment for investment, enterprise and trade.

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The Industrial Development Corporation [IDC]

The IDC is a self financing national Development Finance Institution (DFI), whose primary objectives are to contribute to the generation of balanced, sustainable economic growth in Africa and to the economic empowerment of the South African population, thereby promotion the economic prosperity of all citizens. The IDC achieves this by promoting entrepreneurship through the building of competitive industries and enterprises based on sound business principles.

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Khula Guarantee

Khula Enterprise Finance LTD is dedicated to the development and sustainability of small business enterprises in South Africa. A leader in its field, it has a proud history of more than 13 years service of involvement in the rapidly growing and economically vital, small and medium enterprise (SME) sector.

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The National Empowerment Fund [NEF]

The NEF was established by the National Empowerment Fund, to promote and facilitate black economic equality and transformation. Its mandate and mission is to be the catalyst of Broad-based Black Economic Empowerment (BB-BEE).

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The Innovation Fund

Working hand-in-hand with the government, the Innovation Fund aims to improve the lives of South Africans by helping anyone with ideas for technological innovation to enter the business world and contribute to its positive growth. This exciting initiative from the Department of Science and Technology was set up in 1999 and is managed by the National Research Foundation. The Innovation Fund is mandated to promote technological innovation through investing in late - stage research and development, Intellectual Property protection and commercialisation of novel and inventive South African technologies.

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Franchise Finance

The proprietors of Franchise Finance have a strong record of accomplishment in franchising rather than in banking. They are not bankers but franchise experts focussed on funding, with a bias towards the use of sophisticated computerised processes. They help franchisees obtain finance by acting as a loan origination agency.

In essence, loan origination is not a new concept. Home loan originators have been around for years and have created a viable niche in a market where previously the banks were in total control and competition was virtually nonexistent. Raising business finance is a little more complex but the underlying principles remain the same.

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Growth Finance Options

Business Partners

Business Partners Limited is South Africa’s leading specialist financing company for small and medium enterprises. It provides a full-service offering for entrepreneurs, which includes customised investment solutions, property broking, property management, technical assistance, mentorship, consulting and ongoing business support through industry-specific units. Integrated business solutions are individually structured to meet the specific needs of a wide range of entrepreneurs, from single-owner private practices to multi-owner management buy-outs or buy-ins.

The company invests in independent enterprises in the commercial, manufacturing and services sectors of the economy, with the exception of on-lending activities, farming operations and non-profit organisations. Added-value services are offered on an independent basis, both pre- and post-investment.

Grofin

GroFin is a multi-national specialist SME finance and development company offering an innovative combination of risk capital and business development assistance to viable enterprises.

GroFin is committed to assisting small and medium enterprises (SMEs) achieve sustainable profitability, believing that growth in this sector is vital for socio-economic development in emerging markets.

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Small Business Finance Options

Wesbank spesialises in financing a full range of moveable assets. It services small businesses across most industries. At present, Wesbank has no limit on the asset finance funding it extends to businesses in this segment. The equirment for, and size of, a deposit is entirely case dependent, and is mostly determined by a combination of the customer's risk profile and the type of asset that the customer is purchasing. New ventures would normally be required to provide security.

Blue Financial Services provides small business loans ranging from R15,000 to R3 million. Finance is provided for start-ups, expansion, buyouts and equity. Finance is considered after reviewing the company's business plan. The criteria considered are viability, entrepreneurial competence, own contribution, collateral, track record and demand for the product. The repayment terms are generally up to 3 years for working capital, 5 to 7 years for finance of machinery, equipment, furniture, fixtures and fittings, and 10 to 20 years for land and buildings.

True Group offers finance to small businesses based on the merit of their application. Each applicant is assessed by a Credit Committee and no collateral is needed. Thereafter an interview process is undertaken with the small business owner.

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Trade Finance Options

Bidvest Bank's special focus area is foreign exchange solutions. They offer trade finance, asset-based finance and working capital loans. The finance is extended according to each company's financial standing and available collateral. Trade finance can be obtained on capital goods, machinery and other products to assist importers and exporters with their business dealings.

Credit Guarantee is in the trade finance business. They also offer short-term export credit insurance. This is cover for exporters against loss of proceeds from an export transaction, where the loss is due to payment defaults or specific political perils. The benefits of this include protection against non-payment, and enhanced financing mechanisms by providing added security to finance providers.

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