FNB SME Business Unit offers both standardised financing packages and financing for more complex buy-in and buy-out transactions. Financing is usually provided in the form of term loans, asset-based finance and or overdraft facilities.
The benefits that the FNB Business SME Division holds for its customers include the following:
Knowledge of the SME market and the unique challenges faced by entrepreneurs in starting up a business and financing such venture.
Specialists focusing on catering for the needs of the SME market.
Partnerships with external partners that provide specialised training and mentorship for SMEs, including services like bookkeeping, legal services, taxation services, business advice and marketing on a cost sharing basis.
Quality service, including shorter turnaround times for applications (based on the complexity of the business).
Signed and fully completed FNB Business SME Division forms.
Detailed monthly financial projections for at least 3 years, supported particularly in the case of start-ups by a franchise feasibility study (if it's a franchise), orders, contracts and/or verifiable letter of intent.
A personal balance sheet of every member or shareholder.
Curriculum vitae of each member or shareholder detailing relevant qualifications, skills and experience.