There are various private institutions that offer funding to SBCs. Commercial Banks such as FirstRand, Standard Bank, and ABSA are some of the top private lenders that can assist the SBCs.
Through First National Bank (FNB), the FirstRand group offers business loans to SBCs with flexible repayment terms ranging from 3 months to 5 years. To qualify for the FNB loan the applicant must;
- Have an active FNB Business account in good standing.
- Other additional credit criteria may apply.
To access the FNB business loan, SBC may visit an FNB Branch or access their online loan facilities here
Business Fuel assists SBCs with affordable business loans ranging from R100 000 – R2 000 000. Depending on the loan value you may be required to submit;
- Latest management accounts
- The most recent 12 months of bank statement for your business
- Latest annual financial statements
- SARS Statement of Account (VAT & PAYE as applicable
To access the Business fuel loan facilities SBCs can visit their website