Realise your ambitions with an SME Fund loan
If your SME is 100% black owned and has been awarded a government contract or tender, we can help you with an SME Fund loan of between R50 000 and R3 million to meet your needs.
Qualifying criteria
- You need to be a previously disadvantaged individual and your business must be 100% black owned.
- Your business is a small to medium-sized enterprise (SME) as defined by the Department of Trade and Industry (DTI) - includes new startups and existing businesses; subject to our credit approval.
- Your SME does not meet the criteria for normal lending and therefore you do not have access to normal banking channels.
- You are a South African citizen permanently residing in South Africa.
- As the loan applicant, you are fully involved in the day-to-day operation of the business.
- You have the skills and/or expertise relevant to your business and/or the industry or sector.
- You have a well-researched business plan or business profile.
- Your business can show profitability through historical financials or a realistic cash flow forecast.
- The business’s main transactional account is held with Absa. No split banking is allowed.
- You need a loan of between R50 000 and R3 million with a maximum loan term of five years.
- The economic benefit realised through the finance application resides in the province where your SME resides.
How to get it
Download and complete the application form below and take it to your nearest Absa branch, along with supporting documents listed on the last page of the form.
Alternative Funding application form (85kb)
Source: Absa
