Bridge Taxi Finance
The taxi industry in South Africa is robust and highly competitive. More than half of the country’s citizens rely on public transport on a daily basis. This means that minibus taxis carry millions of commuters on a daily basis. Another factor that has made this mode of transport so popular and a viable business prospect for many people is that it has high profit-making potential. In addition, there are meter taxis as well as Uber to contend with.
More individuals are joining the taxi industry, which creates employment for an estimated 400 000 drivers.
While some people are able to finance their venture using their own cash, others turn to lending institutions. While banks are offering vehicle finance solutions, more micro lending institutions are creating tailor-made solutions for this demand.
Many companies that provide bridging finance offer asset-backed finance. This finance is provided against the security of an asset. It is usually available to individuals who require cash to close the deal.
Essentially, a bridge loan can be described as a short term loan against a confirmed or guaranteed cash inflow expected in the near future. These loans are useful for covering short term needs, so they are repayable within 6 to 12 months.
Getting this type of finance means that you will be able to repay such a short term loan when your transactions materialise.
SA Taxi is a leading financier to the minibus taxi industry in South Africa. Committed to the financial empowerment of taxi owners, this institution finances small businesses. As a supplier of new and pre-owned taxis SA Taxi focuses on providing finance for the taxi industry.
What are the qualifying criteria?
- Be a registered member of a recognised Taxi Association and operate a viable route
- Have a reasonable credit history
- Have a permanent address
- Have a valid operating licence
Visit www.sataxi.co.za
