The Reality of Finding Funding in South AfricaMar 7, 2016 RainFin In the news RainFin , SME
In recent weeks, the financial landscape in South Africa has changed dramatically. As a result, the question of what funding will look like for businesses has been a hot topic.
With an economy experiencing slow growth, tricky regulations and the political disturbance that comes with election years – current conditions may well leave businesses feeling concerned about the future. But with new challenges come new opportunities. In an article on http://www.entrepreneurmag.co.za/, they consider the effect of obstacles to traditional funding on small businesses and how they can be overcome. In particular, the rise of the funding marketplace is discussed.
South Africa is in an ideal situation for innovation and has seen a significant increase in fintech solutions. The rise of platforms like RainFin – which harness the overhead-minimising opportunities provided by the internet – signal a change in the way businesses can access funding.
Unlike traditional finance channels, a credit marketplace brings together trusted lenders, and borrowers looking for access to quick credit on fair and manageable terms. They create a win-win situation for lenders and borrowers; challenging the status quo.
You can read the full article here.