You can be like Zamile, owner of a well-known restaurant in Kuruman, in the Northern Cape. He was paying close to R5,000 a week to rent a sound and lighting system. Fundrr assisted him in purchasing his own brand-new system, he paid this off after just 6 months and now he owns his equipment, and as a result, no longer has cash flow issues and he is saving +-R220,000 per annum.
Small businesses are the heart and soul of the South African economy. It is estimated that of the 2.8 million SMEs, small businesses employ over 60% of the local workforce, contribute 35% towards the GDP and collectively have an annual turnover of R727 billion. Unfortunately, according to the NCRs, most small businesses do not last more than 2 years due to inability to access finance. Capital adequacy regulations force banks to lend against fixed assets rather than to lend to businesses. Initially this seems prudent, but eventually this leads to lower economic growth and higher credit risk.
Fundrr believe that small businesses do not need to struggle to access working capital. They are business owners themselves and they understand the difficulties that arise from cash flow issues. Since they started operations they have helped many franchisees access cash within 24 hours and in most cases on the same day.
Fundrr have helped franchisees all over South Africa from Sandton, to Kuruman, to Rustenberg, to Cape Town. They cover most industries, these include and are not limited to restaurant, retail, wholesale, manufacturing and many more. The use of funds varies and can include purchasing of inventory and machinery, improving the sound and lighting system and extend the square meterage of stores. They have empowered and will keep on empowering small businesses by providing cheaper and quicker access to funding. Being nimble and flexible is what differentiates them. They understand that not every business is the same and adapt their thinking and approach to credit to suit each business.
Fundrr provides unsecured term loans to small businesses in South Africa. Their loans range from R20,000 to R500,000 in size and 3 to 12 months in duration. They have created a model where they can approve a wider range of businesses and come in much cheaper than their competitors. Fundrr have teamed up with FASA to provide all members with a discounted rate.
You can contact them on firstname.lastname@example.org or even whatsapp (079) 217 5059 for a call back.
Idan has come from a strong entrepreneurial background and has had very close relations to many SMEs ranging in industries. He was involved in a group that had over 70 retail outlets, as well as started his own concept which later grew presence within South Africa, Botswana and Dubai. Idan has a strong focus on innovation, growth and sustainability. Co-founded Fundrr alongside Jarred to tackle the SME funding gap in a smart, easy and innovative way.