A few FAQs …
We do not serve start-ups, micro or lifestyle businesses.
We finance small to mid-sized business in operation for 3 or more years.
- minimum finance amount from R1M up to R25M
- minimum R10M annual turnover
- alternatively, R5M to R10M annual turnover, if there is a growth context [e.g. a contract, project or large PO]
Depending on your unique situation, Spartan can help by crafting a finance option tailored to your exact requirements and needs.
Such as:
Our minimum finance amount is R1M and can go up to R25M. Some of our finance facilities can be structured as revolving facilities, where appropriate.
- Bridging Finance: 1-3 months
- Working Capital Finance: 1-3 months or 6-12 months
- Growth Finance: 12-60 months
- Specialised Asset Finance: 12-60 months
From the time that we have received all your information:
- +- 5-10 days to approval
- sometimes quicker or longer depending on your responsiveness
- we focus exclusively on South African SME’s
- if your business is based in South Africa but also operates outside of South Africa then we may be able to finance you
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 do not serve start-ups, micro or lifestyle businesses.
We believe we can make a greater impact by financing Small & Growing Businesses. They are defined as commercially viable businesses that have significant potential for growth.
- Spartan finances in a no/low collateral context, with an approx 5-10 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
- we adopt a structured/customised approach to funding SMEs
- 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 backing an entrepreneur
- Spartans average turnaround time is 5-10 days – for highly specialised/complex funding needs
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.
- 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-signing safety here
- find out how to e-sign here
- we define collateral as a tangible asset, with a liquid, secondary market [e.g. property]
- we define security as a legal instrument that provides some comfort [e.g. cession of debtors]
- depending on the nature and context of the financing required we will often require some form of collateral/security however
- as an alternative financier we also try to give consideration to the needs of the business and its context
- in certain cases security/collateral can take forms more relevant to purchase orders and contracts
Whilst we finance Small & Growing Businesses across all industries – we find that the businesses in the following segments tend to get significant benefit from our niche finance offerings:
- manufacturing
- construction
- engineering
- tech businesses
- education
- healthcare
- business services
- professional services firms
- project related businesses
- contract related businesses
- digital media
- agribusiness
It’s both our philosophy & policy not to finance businesses that negatively impact People and Planet.
- Production or trade in any product or activity deemed illegal under host country laws or regulations or international conventions and agreements, or subject to international bans, such as pharmaceuticals, pesticides/herbicides, ozone depleting substances, PCB’s, wildlife or products regulated under CITES.
- Production or trade in weapons and munitions.
- Production or trade in alcoholic beverages (excluding beer and wine) (Primary).
- Production or trade in tobacco (Primary).
- Gambling, casinos and equivalent enterprises (Primary).
- Production or trade in radioactive materials.
- Production or trade in unbounded asbestos fibres.
- Drift net fishing in the marine environment using nets in excess of 2.5 km. in length.
- Production or activities involving harmful or exploitative forms of forced labour/harmful child labour.
- Commercial logging operations for use in primary tropical moist forest.
- Production or trade in wood or other forestry products other than from sustainably managed forests.
- Industries related to pornography