Our Women Empowerment Finance facility is suitable for new and existing woman-owned businesses. If your business has a revenue stream and positive cashflow but lacks a deposit, collateral or security, you can qualify for a loan of up to R15 million.
All applications will be subject to a full credit assessment. Below is a guideline of the minimum criteria to be assessed (NB: not a comprehensive list. Each application will be assessed based on its own merit):
- 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.
- Business must be at least 51% woman-owned.
- The applicant must have industry skills and expertise.
- A viable business plan must be available (or a business profile for purchase order finance and 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.
- Loans from R50 000 to R15 million
- Repayment terms from 12 months to 5 years
- Flexi reserve facility to keep additional funds in excess of the instalment
- Repayment options to consider:
- Automatic capitalisation facility repayments
- Payment escalation
- Balloon payment
- Term Loans, Commercial Vehicle and Asset Finance and Overdrafts
- Businesses or directors who have their own collateral or security
- Businesses where the main production or trade is in:
- Weapons and/or ammunition
- Gambling outlets, casinos and any similar enterprises
- Any business relating to pornography or prostitution
Let one of our consultants assist you.
If you're an existing customer, contact your enterprise banker.
Not yet with Absa? Call us on:
0860 040 302