Standard bank business term loan

Standard bank business term loan

Business research and statistics show that getting finance for a new business has got to be one of the biggest problems a business entity can face. A good business plan will give a business owner a fair idea of how much money you will need to run the business before it generates sufficient income to pay for itself.This implies that businesses often start using the owners money which could be either savings or even pension or retrenchment payouts.There is however increasing hope around the market as more banks are coming on board to provide loans and credit especially for business purposes. One business entity playing a key role in this regard is Standard Bank.

Established in 1862,Standard Bank has endeared itself to the masses with its wide range of products and services.With a business footprint that stretches across 32 countries around the world including 20 in Africa,Standard Bank understands the needs of the business community especially in South Africa.In order to make a difference in this regard,Standard Bank launched the business term loan.

The business term loan facility is a simple way to secure funds for a period of up to 10 years.A business term loan ca be used to buy fixed assets such ad property or equipment,refurbishment and alterations as well as buying a new business.The minimum loan amount is R50,000 and there is no maximum,depending on what you can afford.

The loan is repayable in equal monthly instalments. The.The loan period is not fixed but is determined by your monthly repayments,which include interest and capital.The account can also be linked to other self service banking channels.To qualify for this financial facility,one needs to be 18 years and above and be in possession of an ID,show proof of residence and have a bank account in which income is deposited and debit orders can be carried out.

To access this credit line,Standard Bank can be contacted on 0860123000

Categories: Loans