How it works 2017-11-06T16:25:23+00:00
How it works

Spartan is strictly focused on Small & Growing Businesses … this is who we finance. We’re 100% committed to only helping SMEs grow. It’s in our DNA. It’s in our processes. It’s in the way we engage.

We don’t serve survivalist, micro and lifestyle businesses – we believe we can make a greater impact by financing Small & Growing Businesses. Small & Growing Businesses are defined as commercially viable businesses that have significant potential and ambition for growth.

you will be considered for finance if:

  • you are a small to mid-sized business

  • > 3 years old

  • your annual turnover is R10 – R500 million

you will be not be considered for finance if:

  • you are a private individual

  • you are a very large company, with more than 500 staff

  • you are a public sector entity

  • Exceptions: we make regular exceptions for companies doing R5 – R10 million turnover per year – provided there is some current growth context happening [for example a contract, project or an expansion].
1. Submit info
2. Review, usually 24-48 hours
3. Credit Committee interviews CEO & team
4. Approval, with Facility Letter or Term Sheet usually 24-72 hours
5. Sign – contractual docs, usually via e-signing
6. Compliance checks + Payout
  • Because we are 100% exclusively focused on financing SMEs & entrepreneurs – our DNA, our process, our empathy, our sense of timing is all geared to this one audience, so its intrinsic to how we do things. That’s our opening comforting statement
  • The clock starts when the applicant gives us all the information – what we find the challenge is often on their side as some document or info may be missing – so its only when we have our basic list or requirements [see “what do I need”] can we start on our end
  • Once we have everything basically inside of 24-48 hours we’re analysing it and its in-front of our Credit Committee
  • If its all ok the Credit Committee will interview the entrepreneur and their financial person – there may be some more documentation or info required based on this chat
  • If we get any additional info/clarity timeously then within a day or two the Facility Letter is approved
  • The fastest from receiving an application to approving and pay-out has been 48 hours
  • The average timeline is 5-7 days [based on the applicants readiness & availability]

Because we are SME-centric we are the “fastest gun in the West”.

  • Completed & Signed application form

  • Last two years sets of Annual Financial Statements (AFS)

  • Latest Management Accounts

  • Last 3 months bank statements

  • Debtors & Creditors Analysis

  • Personal Assets & Liabilities (of all shareholders)

  • Overdraft facility agreement (if applicable)

You can apply right here …    

apply
  • Generally we prefer to finance amounts from R250 000 at the lower end to R5 million at the top – and that’s the rough sweet spot of how our engine room works
  • Now and again we have considered amounts that are higher than R5 million, as exceptions

need more info or want to get started?

contact us now
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Fast. Flexible. Fair.