A franchise can be described as an authorisation granted by a company or an individual or group enabling them to carry out specified commercial activities. A franchise therefore in its simplest form is an agreement or licence entered into by two parties, the franchisor and the franchisee. In South Africa, this niche market has continued to grow over the years. In order to lend the much needed helping hand, Absa has designed a number of financial solutions.These solutions are categorised into Borrow,Transact and Value Additions.
Under the Borrow category, you have commercial asset finance, commercial property finance, term loan and working capital. Commercial asset finance is tailored to finance movable assets. Commercial property finance will help you buy non-residential properties or vacant land for commercial or residential development. Term loans allow you to borrow and then pay your loan back at a fixed rate over the medium to long term.Working capital will allow Absa to design a solution suited to your individual needs from stock funding to invoice discounting as well as loans against import/export orders or factoring.
Transact category offers business current account, business credit cards, business savings accounts, merchant solutions and commercial international banking.The business current account manages your day to day business finances manually or electronically. Business credit cards have a range of cards designed for small businesses. Business savings accounts allow you to earn market related interest, but you can still access your funds quickly should the need arise. Merchant solutions are designed to allow you to accept credit, debit, fleet, garage, RCS, medical, all buy aids and certain gift cards. Commercial international banking is all about a comprehensive suite of custom designed international banking solutions to assist in any kind of cross border operations.
The Value added product offerings are divided into investments, workplace banking and bank guarantee.The Absa investments offering offers you immediate access to your extra cash or let you store your money for a while. Bank guarantee adds credibility and surety to any deal you have with your clients by ensuring that, if you cant deliver on your promises, your customer will be reimbursed for the value of what was required.
Absa can be contacted on 0113508000.