Small businesses are the heart and soul of the South African economy. It is estimated that the 2.8 million SMEs employ over 60% of the local workforce, contribute 35% towards the GDP and collectively have an annual turnover of R727 billion.
Unfortunately, according to the NCRs, most small businesses do not last more than 2 years due to inability to access finance. Capital adequacy regulations force banks to lend against fixed assets rather than to lend to businesses. Initially this seems prudent, but eventually this leads to lower economic growth and higher credit risk.
In its efforts to assist members, SATSA recently agreed to partner with Fundrr.
Fundrr believe that small businesses do not need to struggle to access working capital. They are business owners themselves and understand the difficulties that arise from cashflow issues. Since their inception they have helped many businesses access cash within 24 hours and in most cases on the same day! Businesses all over South Africa, from Sandton to Kuruman to Rustenburg to Cape Town have been assisted.
Fundrr provides unsecured term loans to small businesses in South Africa. Their loans range from R20,000 to R500,000 in size and 3 to 12 months in duration. They have created a model where they can approve a wider range of businesses and come in much cheaper than their competitors.
They cover most industries, including but not limited to, restaurants, retail, wholesale, manufacturing and many more. The use of funds varies across the board and includes purchasing of inventory and machinery, improving sound and lighting systems and extending the square meterage of stores. They have empowered and will keep on empowering small businesses by providing cheaper and quicker access to funding.
Fundrr is nimble and flexible and that is what differentiates them. They understand that not every business is the same and that is why they adapt our thinking, and approach to credit to suit each business.
You too can benefit like Zamile, owner of a well-known restaurant in Kuruman, Northern Cape. He was paying close to R5,000 a week to rent a sound and lighting system. Fundrr assisted him to purchase his own brand-new system which he paid off within 6 months. Zamile now owns his equipment and as a result no longer has cash flow issues and is saving +-R220,000 per annum.
For more information or to access this great opportunity, contact the Fundrr team on firstname.lastname@example.org or even WhatsApp on (079) 217-5059 and they will call you back.