Local SMEs can apply for a loan with the launch of a new capital load fund.
Founded by Yellow Pages which is owned by Telkom Business in partnership with fintech Fundrr, the new capital loan fund aims to offer businesses who have been negatively impacted by the pandemic a lifeline in much-needed funding.
The impacts of Covid-19 have been far-reaching, resulting in thousands of South Africans losing their jobs and main source of income. This new capital loan funding will allow small and medium enterprises the opportunity to revive their businesses.
The dynamic partnership to create this new capital fund is the result of a duo that both independently support the growth and development of South African SME’s. The necessary funding could allow SME’s to buy stock, open new stores, purchase equipment, undertake renovations, or expand the business.
Yellow Pages, a division within Telkom Businesses aims to provide support packages to small businesses. These support packages are aimed at utilising technology to increase business visibility and increase sales while branching into new markets.
Lunga Siyo, CEO of Telkom Business, Yep, and Yellow Pages explains that the partnership with Fundrr now allows for an all-round package to be offered to SMEs.
Fundrr provides business loans and claims to provide one of the quickest turnarounds loan applications with an overall response provided to applicants within 24 hours. Applicants to Fundrr must be a South African business with an operational track record of at least 12 months within a minimum of R1-million turnover or asset value.
The partnership between Yellow Pages and Fundrr will not only offer capital loan funding but also provide SME’s with an online presence to excel in their business model and product offering.
How to apply
There are a few requirements to qualify to apply for the new capital loan fund:
- If applicants are existing Telkom Business and/or Yellow Pages clients and qualify for a loan, Fundrr will provide you with funding for your business faster.
- Applicants must not have had any judgment, default, or debt reviews in the past.
Potential applicants visit the website to apply .