Coming up with a business idea can be easy but getting it into full swing can be a challenge. What keeps your business in motion are funds; without enough capital, your business idea remains a dream that is yet to come true thus what you need is enough money to make your dream practical. Existing business entities are not immune from such challenges simply because they require cash-flow at some stage and gaining access to additional financing is often a monumental task.
Worry not because there are certain financial institutions who know about your worries; they have designed products and ideas to break you out of that cocoon of confusion. But don’t just sit there and think they will knock at your door and tell you what you are meant to do – visit them.
Absa is a big bank whose services take into account the plight of small businesses. The banking group has a couple of financing options that can serve your business or bring your business idea into motion:
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Business Revolving Loans: It’s an ideal loan to access available funds without even having to re-apply for financing every time you need it
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Working Capital: When you have access to available capital, your small business is much more maneuverable, and can take advantage of business opportunities
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Business Overdrafts: A business overdraft on your small business cheque account will give you access to more funding exclusive of applying for a loan
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Term Loans: If you need to fund purchases such as equipment without jeopardizing your cash-flow, a term loan is an excellent way to finance this
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Absa Development Credit Fund: A South Africa, the fund offers financial support to SMEs who do not have sufficient security or collateral and have poor credit records
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Absa Women Empowerment Fund: South African women who own SMMEs could be eligible for this finance, subject to credit approval
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Absa SMME Fund: Previously disadvantaged individuals with 100% black owned businesses could be eligible for this funding, subject to credit approval
For more information regarding ways on how to finance your small business, Absa can be contacted on 0860 040 302.