Ithala

Ithala Business Loans - Useful for Achieving Success

It is not easy to start a business venture in South Africa, especially if you do not have solid finance. Generally, the growth and management of every business requires the use of business or personal loans, no matter whether it is big or small. Read this Ithala business loans review to find out whether the products of this lender will be suitable for your company.

providing financing to individuals and businesses

Ithala is a corporation providing financing to individuals and businesses in the KwaZulu-Natal Province of South Africa. It caters primarily to small and micro businesses that are unable to access the commercial loan facilities available from traditional banks. You should definitely consider the Ithala business loans if you are just starting out and you do not have many valuable assets and a lot of cash. You have very high chances of getting finance.

loans are subject to lending criteria

Just keep in mind that the loans are subject to lending criteria just like all of their counterparts offered by commercial lenders. In order to qualify for finance, a company must meet a set of general criteria like job creation, use of modern technologies and working with raw materials produced in South Africa. Basically, the company has to support the local economy via its activities. At the same time, there are no precise requirements for financial performance or collateral with our business financing.

no fixed minimum and maximum amounts

There are no fixed minimum and maximum amounts with the Ithala business loans. Still, since the loans are for small and micro businesses you should not expect them to offer millions of rands. The loan amounts always correspond to the size of the company. Another thing to note is that Ithala may not be able to offer 100% finance for business ventures, projects and other initiatives. This can be somewhat of a drawback especially if you do not have access to any finance available from other lenders.

based on the prime lending rate

The interest rates are based on the prime lending rate. They are quite competitive especially to what the major banks have to offer. The fees are affordable as well. If you want an affordable loan, this is the lender to work with. This review concludes that the Ithala business loans are an excellent choice for small businesses that are active in their communities. They are easily accessible and affordable.