small business funding
SMME Finance
SMMEs require business finance to fund their establishment and on-going operational costs. Unfortunately, access to finance is largely constrained by lenders attaching greater credit risk to SMMEs. Because of the lack of access to financial resources, many SMMEs do not grow to their full potential.
Small Business Funding Solutions In South Africa
We assist SMMEs to access funding in various ways. AnswertheCall has established relationships with most of the big commercial banks and financial institutions in the country.
Application Process
Uncomplicate the SMME funding application process and requirements.
Bankable Business Plans
Help clients create bankable business plans which meets lenders requirements.
- SMME FUNDING
- FUNDING CHALLENGES
- OUR FUNDING SOLUTIONS
SMMEs require business finance to fund their establishment and on-going operational costs. Unfortunately, access to finance is largely constrained by lenders attaching greater credit risk to SMMEs. Because of the lack of access to financial resources, many SMMEs do not grow to their full potential.
Challenges faced by SMMEs in accessing finance include the high cost of credit, the limited supply of credit, the complicated application procedures, and the collateral requirements. The lack of access to finance has a huge negative impact on SMEs' growth, performance, and job creation.
SMMEs largely operate in the service sector, which makes up 80% of some advanced economies, including in South Africa. Their assets are largely intangible - software, licences, branding, intellectual property, content and so on.
Credit managers on the other hand rely on scoring models that do not account for intangible assets. As a consequence, prospective borrowers often get turned down because they cannot use them as collateral - and lack any other tangible assets.
AnswertheCall has established relationships with most of the big commercial banks in the country, as well as with the Public Investment Corporation, the Industrial Development Corporation, the Small Enterprise Finance Agency, National Empowerment Fund, and the Land and Agricultural Bank.
We assist SMMEs to access funding in various ways. One of the key elements of a successful funding application is a well-written business plan.We help our customers to develop business plans that meet the requirements of prospective lenders.