A few FAQs…

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Frequently Asked Questions …

Depending on your unique situation, Spartan can help by crafting a finance option tailored to your exact requirements and needs.

Such as:

Spartan is strictly focused on Small & Growing Businesses. 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.

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

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].

  • any finance requires regular repayments
  • its near impossible for a startup business with no sustainable revenue nor historic financial information – to prove that it can repay financing
  • Specialised Asset Finance: 12-36 months
  • Growth Finance: 12-36 months
  • Working Capital Finance: 1-3 months
  • Bridging Finance: 1-3 months

From the time that we have received all your information:

  • +- 7-10 days to approval
  • sometimes quicker or longer depending on your responsiveness
  • this is accelerated by the use of our Fintech tools
  • Spartan finances in a no/low collateral context, with an approx 7-10 day turnaround
  • therefore we supplement your bank rather than substitute it
  • our pricing is relative to the above
  • however, against usual secured overdraft rates – our costing is reasonable

Documents we require include:

  • online or offline finance application
  • historical financial information (for Spartan to assess business retrospectively) – this includes AFS/Management accounts and Bank account details/statements
  • business owners personal assets – we do secured and unsecured lending, this helps us with our risk mitigation

Why no business plan? We believe in meeting with the entrepreneur in order to understand the business holistically – from their perspective.

  • Generally we prefer to finance amounts from R500 000 at the lower end to R15 million at the top for routine & run of the mill needs
  • However, as an exception, we can consider amounts above R15 million for more structured/specialised needs – we even do larger amounts than this using revolving finance facilities and custom built finance solutions
  • We supplement a bank we do not substitute a bank
  • this means our clients utilise the banks for their traditional/vanilla finance needs & Spartan supplements this for their specialised/growth needs
  • your bank will typically require a higher degree & higher quality of collateral where Spartan as an alternative funder focuses more on baking an entrepreneur
  • Spartans average turnaround time is 7-10 days – for highly specialised/complex funding needs
  • Spartan has elected to focus on South African SMEs exclusively
  • We do not finance any businesses outside of South Africa
  • We deal with SMEs all across South Africa – our head office is located in Craighall, Gauteng and this office handles nationwide enquires
  • With Spartan you can sign all our docs online, on your mobile – wherever you are in the world
  • It is completely safe and legal
  • We make use of a top tier service that enables quick, easy and safe e-signing
  • find out more about our e-singing safety here
  • find out how to e-sign here

need more info …?

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