Give your business the financial boost that it deserves. We have set aside R500 million to help your KZN small business deliver on local government tenders that have been awarded to you.

What you need to know

  • What you need to know

    • Access to finance for new and existing businesses with a minimum of 51% black-ownership, in all sectors except agriculture
    • We provide Term Loans and Commercial Asset Finance (commercial vehicles, vehicles and machinery)
    • Loan amounts between R50 000 and R15 000 000
    • Pricing is risk-based
    • Loan terms up to 5 years

  • Qualifying criteria

    • The business must be conducted for profit reasons.
    • The business must provide proof of future revenue and loan repayment ability.
    • If the business is not new, historic financial performance will be assessed.
    • The business must be registered in South Africa.
    • The applicant must be a South African citizen.
    • The business must be at least 51% black owned.
    • The applicant must have industry skills and expertise.
    • A viable business plan must be available (or a business profile for purchase order finance must be provided).
    • If the business transaction account is not held with Absa Bank, it will be a condition that it must be moved to Absa.
    • At least one of the business owners must exercise management control of the business on a day-to-day basis.

  • What is required to apply

    • Business profile
    • BEE affidavit
    • Tax Clearance
    • Historic financials (existing businesses)
    • Minimum 12 months cashflow projections
    • Copy of contract/purchase order document (approved)
    • Business registration documents
    • Copy of lease agreements (if applicable)
    • FICA verification documentation (personal and business)
    • Quotations on all equipment to be purchased (if applicable)
    • 3-6 months bank statement (personal and business)
    • Statement of income and expenditure (owners)
    • Statement of assets and liabilities (owners)
    • CVs of all members/directors/owner(s) of the business
    • Copies of educational and/or skills development certificates

Frequently Asked Questions

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Need more help?

Let one of our Absa business consultants assist you.

Call us on:

Lucky Mabunde mobile: 079 528 6055

Sandra Buthelezi mobile: 067 417 4068

Email us on: 

Lucky Mabunde email: lucky.mabunde@absa.africa

Sandra Buthelezi email: sandra.buthelezi2@absa.africa