Our finance terms are usually over 36 months, with options ranging from 12 through to 60 months. We have plenty of plans to choose from and we are constantly creating new ones.
In addition to Specialised Asset Finance, Spartan also offers Growth Finance, Bridging Finance and Working Capital Finance. These are used as alternative finance methods when traditional funders don’t meet the needs or time frames of a project or when they are unable to fund your need at all.
Depending on your unique situation, Spartan can help by crafting a finance option tailored to your exact requirements and needs. It can be a pure straightforward finance application, where you have already lined up the vendors you wish to use to supply, install and support your equipment, and you are just looking for a finance partner. It may also be something more bespoke and contextual to your business growth needs such as Working Capital Finance or Bridging Finance.
A line of credit typically has to be secured by R 5 to R 10 of high-quality assets for every R1 borrowed. This makes it quite a limited resource that should be kept in reserve for items that cannot be financed in any other way. The line of credit should be the last resort, in case nothing else works. Traditional funders such as banks do not cater for Specialised Asset Finance nor do they provide Working Capital Finance or Bridging Finance. This is where an alternative financier like Spartan can make all the difference.
The prospect of avoiding interest and financing charges by paying cash is pretty attractive to some companies. But cash isn’t free. It’s a limited asset, and there may be better ways to use it than tying it up in a depreciating assets. The rate at which technology and other specialised assets depreciate is incredible. Keeping cash at hand makes it much easier to seize a business opportunity before a competitor can arrange financing, or to weather a downturn that cripples your competition. Ultimately, using cash to invest in your business provides returns that are far higher than the interest rate of finance.