How our process works

Our Process

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How to Apply

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What you need

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FAQ

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Timelines

Applications-to-Payout in approx. 10 days

These are the steps/stages that drive our overall timeline:

  • Application Stage: depends on how quickly you provide required info
  • Assessment Stage: a Credit Analyst engages & assesses – typically 1-3 days
  • Interview Stage: our Credit Committee interviews you
  • Implementation Stage: signing contracts & fulfilling approval conditions. Ranges from 1 day to few weeks [depends on complexity and your responsiveness]
  • Pay-Out Stage: within 24hrs of completion of Implementation Stage

Your responsiveness & cooperation – significantly affects timelines.

Assessment

Credit Analyst engages & asseses > the Credit Committee interviews you

Once we have your application and all supporting docs a Credit Analyst reviews this and will either ask for additional docs (when required) or will arrange for a Credit Interview where you meet directly with our Credit Committee. It’s here that rubber really meets the road.

We don’t ask for business plans as we believe that by making the effort and time to understand you and your business we are in a better position to make a credit decision. In this interview we really get to understand how your business works, its strengths, challenges and if our finance can help it grow.

Pay-Out

After Term Sheet; Agreements; Conditions met

Based on a signed & completed term sheet and our compliance team having checked that all the paperwork is good-to-go… we then proceed to pay-out the same day or next day.

How an application works from start to end …

do I qualify?

1. Complete our quick qualify check to see if your business could qualify for finance from Spartan.

do I qualify?

what do I need?

2. If you qualify then do the application readiness check to see if you have all the required docs ready – if not we can assist.

what do I need to apply?

application

3. If you qualify and have all your docs ready to apply then go ahead and complete our online application form (you can save & continue this at any time).
We also offer an offline application where you talk directly with us throughout the process should you prefer.

apply online

interview

4. As we don’t believe in requesting business plans – the interview with the entrepreneur allows us to get an appreciation for their business model, strategies and vision. This happens either in-person or via a Skype video call.

pay-out

5. Once our compliance team checks that all the paperwork is good-to-go then we proceed to pay-out. Pay-out is usually same/next day [for working capital finance].

Min and max amounts

  • Generally we prefer to finance amounts from R1M at the lower end to R25 million at the top for routine & run of the mill needs
  • However, as an exception, we can consider amounts above R25 million for more structured/specialised needs – we even do larger amounts than this using revolving finance facilities and custom built finance solutions

What you will need …

  • Completed & Signed application form

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

  • Latest Management or Internal Accounts

  • Last 3 months bank statements

  • Debtors & Creditors Analysis

  • Personal Assets & Liabilities (of all shareholders)

  • Overdraft facility agreement (if applicable)

  • Key contracts or purchase orders (if applicable)

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