SME Trader loan

SME Trader loan is a credit facility granted to a business entity for the purpose of meeting its immediate cash needs in the short-term, providing instant cash to fund your current business activities.

What does it offer me?

  • A Trader loan allows you access to instant cash for your working capital needs (Granted within 3 days of application)
  • It is granted to exclusively businesses that generate cash on daily basis (with a minimum of 4 deposits/month)
  • This loan cannot be used to consolidate debt and/or settle creditors
  • Evaluation principles are based on frequency and amounts of deposits in the account.
  • Minimum loan is M 5,000 and maximum loan is M150, 000
  • Loan period ranges from 6 months to 12 months
  • Collateral is cession of stock.

 

What do I need to apply?

  • An active account (no less than 6 months old)
  • Tax clearance
  • Traders license
  • Proof of business address
  • Identity documents of business owner(s)
  • Certificate and Memorandum of incorporation (in the case of companies)

 

Which businesses qualify?

  • Salons
  • General Dealers
  • Catering companies
  • Farmers who sell the agricultural inputs e.g. seeds, farm feeds, etc.
  • Restaurants and snack bars
  •  Bakeries
  • Constructors who sell on daily basis, eg selling bricks, sand etc.

Speak to a Business Banker or your Relationship Manager.


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