When it comes to running a business in today’s disruptive and unpredictable environment, it’s never been more important for entrepreneurs to read the signs and respond accordingly, by adapting their strategies with out-of-the-box thinking and lightning-fast execution.
When you further consider the pressures of cash flow cycle peaks and valleys and the impact of seasonal trade, it’s clear that a “one-size-fits-all” approach to this market simply doesn’t cut it anymore – innovation and flexibility is key.
With this in mind, Standard Bank has developed a revolutionary approach to business finance in this space – BizFlex is a flexible, short-term unsecured lending solution for small and medium-sized enterprise (SME) clients.
Globally, BizFlex is the first current account “revenue-based” repayment loan offered by a financial institution.
Unlike traditional lending products, the BizFlex loan offers two distinct benefits to assist businesses in managing their cash flow and growth:
“We’re proud to have assisted SMEs with over 10,000 loans to date, with loan disbursements exceeding a total of R2 billion,” says Darren Segal, business and commercial group executive at Standard Bank.
“With repayments that match the business’s real-time cash flow trends, we’re able to offer a cash boost to SMEs, tailored to their specific needs at an upfront cost, that is guaranteed,” Segal explains.
“We’ve seen our clients use BizFlex for a wide variety of reasons – from servicing day-to-day requirements such as bulk stock purchases, to refurbishment of premises, bridging cash flow gaps and more,” says Amit Kooverjee, Executive Head of BizFlex at Standard Bank.
“Clients with active BizFlex loans may apply for an additional disbursement. Once approved, the original loan and additional amount will be consolidated into a new loan,” Kooverjee explains.
For more information visit www.standardbank.co.za/bizflexloan
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