Top Business Loans For SMEs

July 05, 2022 • Estimated Reading Time: 5 minutes

Access to funding is one of the top challenges reported by SMEs, according to The SA’s SMME COVID-19 Impact Report by FinFind. A total of 58,6% of SMMEs that survived the lockdown reported that they could not get access to funding.

We have seen the rise of alternative solutions to business financing – fintech companies are offering business funding to small businesses over a short period. They are also giving small businesses flexible payment terms to go with the business loan in South Africa.

Besides the common avenues of business funding options like government funding and traditional institutions like banks, there are also alternative funders who provide small businesses with a variety of financing products, usually over a short period.

Small business owners can apply online to qualify for a business loan in South Africa.

 Why SMEs Are Refused Funding 

There are several reasons including:

- Inconsistent cash flow

- Inconsistency in information provided.

- Inaccurate or outdated annual financial statements and management accounts provided.

- Inability of applicants to provide substantiating information.

New This Week (04 July 2022)  

 

6 Reasons Why A Business Needs Funding 

Looking for business funding can seem like one of the trickiest parts of running a business. While most entrepreneurs may want to just bootstrap it themselves, SME funding is a requirement that so many businesses simply can’t ignore.   

There are many reasons why business funding is so important. As an entrepreneur, it’s important to understand just how much capital you need and what you need it for. If your business is not funded correctly, it could leave a major impact.  

We’ll cover six of the main reasons why a business needs funding below. If you’re starting your business, make sure that each of these areas is covered.  

[DOWNLOAD] Financial Statements Templates for Entrepreneurs 

Need An Unsecured Loan? For a Free Quote for Business Funding, visit SME South Africa. 

+20 Business Funding Opportunities for Entrepreneurs in the Agricultural Sector

Find the right fund for your agriculture business. Choose from debt financing and venture capital to government grants & incentives and prizes. 

Get a full list of agricultural funds for the following categories/businesses:

  • Field crop farming

  • Animal production

  • Dairy farming

  • Food & agricultural value chain

  • Agro-processing

PLUS – Niche funds for Black and Women-owned agriculture businesses