SMEs moving away from traditional investmentMay 11, 2016 Blog RainFin , SME
SMEs are set to be responsible for creating 90% of jobs in South Africa by 2030, however, with one of the major hurdles to growth being access to funds, it will require an evolution in the finance industry for this to happen.
A recent article in JSE Magazine explored the growth of alternative funding such as peer to peer lending and crowdfunding with the findings clearly showing that this is the direction the market is shifting.
RainFin, South Africa’s first and leading lending marketplace, is at the forefront of this shift. The RainFin community links borrowers looking for fair and transparent funding with lenders looking for good returns. Having recently announced a partnership with Absa, the RainFin offering has advanced further towards helping SMEs grow. Our CEO Sean Emery said:
“this partnership gives SME clients access to the best of the traditional and the new.” He went on to say:
“Firstly, the traditional is that SMEs who are looking for a working capital terms loan of less than R750 000 will have the ability to complete an online loan application and be offered funding by Absa, as Absa is a lender on the RainFin marketplace.
Secondly, the new is whereby the SME will also have offers on their loan from other lenders on the marketplace, therefore hopefully allowing them to get the best rate offer on their loan quicker than the manual process used in the past.”
To read the full article go to http://www.jsemagazine.co.za/home/group-dynamic/