Spartan vs a Bank?
- Basic/vanilla finance is not what we do – your bank does this.
- We focus on growth funding in more complex contexts.
- Our turn-around-time is more suited to entrepreneurs.
Spartan vs other SME funders?
- We have multiple funding options [Working Capital Finance, Specialised Asset Finance, Growth Finance] – from 1 to 60 months.
- Our loan sizes are larger – from R1M upwards.
- Our differentiators are – our structured finance approach & our Credit Committee interviewing you.
Is it worth my effort applying to Spartan ?
If you meet our initial criteria Spartan makes the effort to engage you and understand you & your business [including being interviewed by our Credit Committee] – structure the funding for your specific context, all whilst trying to meet your timeline.
Why is your financing cost higher than a bank ?
- Your business could have a range of funding needs throughout its lifetime – some of these, about a third, are basic and should be satisfied by your bank
- However, any growing SME has needs that are more complex, riskier, with no/low collateral and time sensitive
- In this context the funding cost is understandably higher than a bank
What is Spartan’s view on collateral & security ?
- Whilst collateral is the starting point for your bank – we don’t start with collateral
- Basic transactions may not require collateral – but more complex and riskier deals will
- We view collateral or security as a proxy for commitment
- So your ability & willingness is what counts – more than the quantity & quality
What some of our entrepreneur clients say …
“you got a big brother literally backing you – they say ‘financing that backs entrepreneurs’ and they really do”
“the ability to finance … allowed us to have more capital available to hire more teachers”
“we knew that when we were actually deep in the waters Spartan had come through to our rescue and we believed in the relationship we had built with Spartan … so we went back to Spartan for funding”
“I definitely feel like I am being backed… I’m not afraid of anything, if there are any new contracts I know they are a phone call away.”
“Spartan offered us the finance for the 5 trucks, we definitely wanted to get all 5 at once – since we’ve started we have never got such a big fleet from the word go in one finance application”
We’re registered and authorised.
Spartan is a Registered Credit Provider NCRCP8669, in terms of Section 40 of the National Credit Act 34 of 2005, as amended.
Spartan is an Authorised Financial Services Provider, with licence number 47631, in terms of Section 8 of the Financial Advisory And Intermediary Services Act, 2002 (Act No. 37 of 2002).
We are members of: Aspen Network of Entrepreneurs (ANDE); SME Finance Forum (Managed by IFC); Association of SMME Funders.
Who are you ?
When is the right time ?
How it works …
A few FAQs …