Jenine Zachar, Head of Enterprise and Direct Banking at Standard Bank’s Business & Commercial Banking division believes it would be useful for South African entrepreneurs to get a full picture of the broad range of funding potentially available to South African small and medium enterprises .
“Listing some of the funding options out there – and describing what they are and how they work – might help demystify these products for South African entrepreneurs and help SMEs source appropriate funding,” says Zachar. Since all businesses are different, Standard Bank has developed a range of funding options for entrepreneurs to choose from depending on the size, length of operation, need and ambition of qualifying enterprises.is ideal for financing working capital or income-producing assets when expanding the business by allowing regular loan withdrawals up to a portion of what has been paid off.allows businesses to take out more money than they actually have in their account, up to an approved limit.
As South Africa’s small and medium enterprise segment grows “our SMEs will assume their rightful role as primary drivers of economic inclusion, innovation, growth and employment,” concludes Zachar.
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