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?
- General Dealers
- Catering companies
- Farmers who sell the agricultural inputs e.g. seeds, farm feeds, etc.
- Restaurants and snack bars
- Constructors who sell on daily basis, eg selling bricks, sand etc.
Speak to a Business Banker or your Relationship Manager.