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Thread: Funding for existing businesses

  1. #1
    Join Date
    Nov 2007
    South Africa
    Thanked 28 Times in 20 Posts

    Funding for existing businesses

    Flexi Business Loan

    You have access to a continuous lending facility, by being able to draw back up to the original limit approved, or you can pay in additional amounts and then withdraw this extra amount when required.
    Best suited

    You are eligible for an FNB Flexi Business Loan if your business has:

    * been operating for a minimum of two years
    * a well managed set of accounts over two years
    * a bank approved credit rating
    * a successful credit history with FNB
    * a need for the reassurance of a term loan on demand, when required

    Features and benefits

    What does the Flexi Business Loan offer you?

    * Revolving credit from R100 000 up to R1 000 000
    * 12 to 60 months repayment period
    * Once approved, immediate access to cash without reapplication administration
    * Minimum installments but higher monthly installments possible
    * Interest rates linked to prime but negotiable

    What are the benefits?

    * An accessible, flexible and manageable credit facility
    * Enables easy cash flow planning and more efficient debt management
    * Additional loan option to existing loans or overdraft
    * Allows immediate redraws up to original capital value*
    * Earns eBucks if linked to eBucks for Business cheque account

    *once 25% of value of loan has been repaid

    It is now possible to purchase commercial property with 90 % bonds.
    Normally a 60 % to 70% bond was your only option

  2. Thanks given for this post:

    Dave A (12-May-09)

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