, a new service to enable small businesses to apply online for funding and get an answer within 24 hours. Telkom says that Telkom Lend is an end-to-end digital process means no paperwork, no long queues and no waiting for a response from a financial institution.“Business funding from Telkom Lend will ensure that small businesses are able to scale and grow with fast funding without the need to put up any collateral,” says Sibusiso Ngwenya, ME, Telkom Financial Services.
Applications made through Telkom Loan are checked for eligibility with Telkom’s proprietary automated scoring model. The telecom says that this saves time and gives business owners a chance to focus on their businesses instead of filling in forms and standing in queues. Another benefit is that a business does not pay a penalty to settle the outstanding balance earlier, as it will instead qualify for a discount.
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