Fintech – funding SMEs smartlySep 14, 2017 Blog Marketplace Lending , SME funding
It is a well know fact that SMEs are a significant contributor to the economic and social development of South Africa for a variety of reasons, but mostly due to job creation. But, even though this is the case, access to funding seems to be a big hurdle that they have to cross, according to the numerous surveys done amongst SMEs.
This is where fintech comes in! Michael Jordan, former FNB CEO said, “It is important to understand that one of the big benefits that small start-ups have is relative to freedom from bureaucracy and an ability to move very fast.”
The good news for small businesses is that the growing competitive advantage that fintech holds, has seen the arrival of a number of players following this trend over the past few years. Fintech loan providers and marketplace lenders are examples of companies who understand the frustration of SMEs when it comes to raising capital. They have developed sophisticated and revolutionary technologies to facilitate funding in a short period, to companies who have passed credit vetting, making them prime borrowers.
The entire application process is done online in the convenience of one’s office.
Financing has never been easier!
For more information, click here.