SME Funding

for cash flow assistance due to growth in your business

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What is SME funding?

SME funding is the financing of small and medium-sized business needs. This ranges from technology [hardware & software] and equipment finance to working capital finance. We offer SME funding that backs entrepreneurs.

Efficient cash flow management is the lifeblood of any SME. At Spartan, we live this – which is why we offer SME finance. Our various finance products help your business to retain cashflow – so you can use the cash where it should be used.

In today’s economic climate, businesses need to retain their cash reserves and preserve their lines of credit. Small and Medium businesses are at the core of the South African economy and in order to grow, access to affordable & alternative sources of finance is critical. This is where we come in. We help SMEs grow.

  • Our expertise is in financing specialised assets.
    What does this mean? When you need to finance specialised assets – that your bank or traditional funders don’t understand or avoid – we will back you. We finance machinery, specialised equipment, technology, software, office fit-out, etc. If you’re not sure if we will finance it just ask – chances are we could.

  • Avoid using your working capital or overdraft.
    Rather use Spartan’s  finance facility [credit line] which acts as a wallet of credit. This credit line has a 3 year availability period.  It can be used for ‘bits & bobs’ or larger items. Working capital or overdraft is a scarce resource that should either serve as a buffer for tough times OR give you confidence for the future.

Types of SME funding …

Machinery Finance

Finance all your machinery & equipment that your business needs whether you’re in manufacturing, warehousing, agro-processing, mining support, construction, engineering, etc. … see more about our machinery finance.

For leading-edge ‘weird & wonderful’ equipment or devices that don’t fit the conventional mould or is so new-age that it can’t be categorised yet. So if it can’t be categorised how can it it be financed? Spartan can and does – because we have expertise in financing specialised assets. Find out more here.

If it has a chip, wires or an IP address we’ll probably finance it. For just about any technology your business requires whether its traditional IT or something way beyond that and non-traditional … read more about our technology finance.

It covers off-the-shelf software or custom development software. For example CRM, ERP, industry-specific-software, web/general/mobile development. Spartan can also finance the various elements of your software project whether it be upfront/annual licensing, implementation, training, software subscription [Software-as-a-Service]. Read more here.

Spartan’s Fit-Out Finance covers your office furniture & fit-out. Whether you are looking to refurbish and redesign your workplace, or are looking to move into a new office space, we can finance the entire project. See more.

A solution that assists businesses with solving cash flow issues due to growth related challenges in their business. Bridging Finance is for either a once-off need or for regular use in your business.

Our minimum finance criteria

  • minimum finance amount from R1M up to R25M
  • you are a small to mid-sized business [SME] in operation for 3 or more years
  • with a minimum annual turnover of R10M, or
  • alternatively with an annual turnover between R5M – R10M, provided there is some current growth context [for example a contract, project or acquisition]
  • read more about our Finance Criteria

How it works …

When we provide SME funding, our approach is to give you an upfront finance facility. This acts as a wallet of credit to be used when you start with us & for all your future finance needs. Once the initial basic contract documents are signed and everything has been approved and set up you receive your finance facility. Click here for more details….

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.

get the SME funding your business needs ...

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