Structured Finance for serious SMEs* – backing your growth.

Working Capital Finance, Specialised Asset Finance, Growth Finance.
First we understand you & your business – then we structure funding, whilst meeting your timeline.

*No start-ups. Minimum loan R1M.

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Spartan SME Finance

understanding you

our Credit Committee interviews you in-person
[if your application progresses to Credit Committee]

structured for you

our multiple funding options/products & periods – enable us to structure funding for your context

your timeline

from application to pay-out averages 10 days
[based on your timeous participation & complexity]

Spartan vs a Bank?

  • Basic/vanilla finance is not what we do – your bank does this.
  • We focus on growth funding in more complex contexts.
  • Our turn-around-time is more suited to entrepreneurs.

Spartan vs other SME funders?

  • We have multiple funding options [Working Capital Finance, Specialised Asset Finance, Growth Finance] – from 1 to 60 months.
  • Our loan sizes are larger – from R1M to R25M.
  • Our differentiators are – our structured finance approach & our Credit Committee interviewing you.

Is it worth my effort applying to Spartan ?

If you meet our initial criteria Spartan makes the effort to engage you and understand you & your business [including being interviewed by our Credit Committee] – structure the funding for your specific context, all whilst trying to meet your timeline.

Spartan SME Finance
Spartan SME Finance

Why is your financing cost higher than a bank ?

  • Your business could have a range of funding needs throughout its lifetime – some of these, about a third, are basic and should be satisfied by your bank
  • However, any growing SME has needs that are more complex, riskier, with no/low collateral and time sensitive
  • In this context the funding cost is understandably higher than a bank

What is Spartan’s view on collateral & security ?

  • Whilst collateral is the starting point for your bank – we don’t start with collateral
  • Basic transactions may not require collateral – but more complex and riskier deals will
  • We view collateral or security as a proxy for commitment
  • So your ability & willingness is what counts – more than the quantity & quality
Spartan SME Finance

What some of our entrepreneur clients say …

“you got a big brother literally backing you – they say ‘financing that backs entrepreneurs’ and they really do”

Tshidi Mndzebele, CEO AvenirHoldings

“the ability to finance … allowed us to have more capital available to hire more teachers”

Damany Gibbs, CFO at Nova Pioneer

“we knew that when we were actually deep in the waters Spartan had come through to our rescue and we believed in the relationship we had built with Spartan … so we went back to Spartan for funding”

Glen Mavuso, MD Sonke Resources and Energy

“I definitely feel like I am being backed…  I’m not afraid of anything, if there are any new contracts I know they are a phone call away.”

Chithwa Samuel Ndwandwe, MD Sinqobile Equestrian Security

“Spartan offered us the finance for the 5 trucks, we definitely wanted to get all 5 at once – since we’ve started we have never got such a big fleet from the word go in one finance application”

Lindiwe Ntsabo, MD SSN Transport

We’re registered and authorised.

Spartan is a Registered Credit Provider NCRCP8669, in terms of Section 40 of the National Credit Act 34 of 2005, as amended.

Spartan is an Authorised Financial Services Provider, with licence number 47631, in terms of Section 8 of the Financial Advisory And Intermediary Services Act, 2002 (Act No. 37 of 2002).

We are members of: Aspen Network of Entrepreneurs (ANDE); SME Finance Forum (Managed by IFC); Association of SMME Funders.

Who are you ?

  • You’re an established business with growth plans or sizable new project/contract/PO [you are not a start-up and not a lifestyle business]

  • You have some experience in applying for & obtaining business finance [and perhaps already have a business overdraft] – and therefore have a sense/understanding of the differences between your bank VS an alternative funder

  • You are looking for a funding partner that can understand you, your business and structure financing based on that understanding

When is the right time ?

  • Whilst your business is fundable/funded by banks – you also have growth funding needs that cannot be understood or satisfied by your bank

  • You have your latest financial info ready [ie. Annual Financial Statements, Management Accounts, Drs & Crs Age Analysis, etc]

  • You need R1M – R25M for a particular growth opportunity or project/contract/PO is time sensitive and/or you have low/no traditional collateral

How it works …

Timelines

Applications-to-Payout in approx. 10 days

These are the steps/stages that drive our overall timeline:

  • Application Stage: depends on how quickly you provide required info
  • Assessment Stage: a Credit Analyst engages & assesses – typically 1-3 days
  • Interview Stage: our Credit Committee interviews you
  • Implementation Stage: signing contracts & fulfilling approval conditions. Ranges from 1 day to few weeks [depends on complexity and your responsiveness]
  • Pay-Out Stage: within 24hrs of completion of Implementation Stage

Your responsiveness & cooperation – significantly affects timelines.

Assessment

Credit Analyst engages & asseses > the Credit Committee interviews you

Once we have your application and all supporting docs a Credit Analyst reviews this and will either ask for additional docs (when required) or will arrange for a Credit Interview where you meet directly with our Credit Committee. It’s here that rubber really meets the road.

We don’t ask for business plans as we believe that by making the effort and time to understand you and your business we are in a better position to make a credit decision. In this interview we really get to understand how your business works, its strengths, challenges and if our finance can help it grow.

Pay-Out

After Term Sheet; Agreements; Conditions met

Based on a signed & completed term sheet and our compliance team having checked that all the paperwork is good-to-go… we then proceed to pay-out the same day or next day.

A few FAQs …

We do not serve start-ups, micro or lifestyle businesses.

We finance small to mid-sized business in operation for 3 or more years.

  • with a minimum annual turnover of R10M or
  • alternatively with an annual turnover between R5M – R10M, provided there is some current growth context [for example a contract, project or acquisition]

Depending on your unique situation, Spartan can help by crafting a finance option tailored to your exact requirements and needs.

Such as:

Our minimum finance amount is R1M and can go up to R25M. Some of our finance facilities can be structured as revolving facilities, where appropriate.

  • Bridging Finance: 1-3 months
  • Working Capital Finance: 1-3 months or 6-12 months
  • Growth Finance: 12-60 months
  • Specialised Asset Finance: 12-60 months

From the time that we have received all your information:

  • +- 5-10 days to approval
  • sometimes quicker or longer depending on your responsiveness

  • we focus exclusively on South African SME’s
  • if your business is based in South Africa but also operates outside of South Africa then we may be able to finance you

Spartan is strictly focused on Small & Growing Businesses … this is who we finance. We’re 100% committed to only helping SMEs grow. It’s in our DNA. It’s in our processes. It’s in the way we engage.

We do not serve start-ups, micro or lifestyle businesses.

We believe we can make a greater impact by financing Small & Growing Businesses. They are defined as commercially viable businesses that have significant potential for growth.

  • Spartan finances in a no/low collateral context, with an approx 5-10 day turnaround
  • therefore we supplement your bank rather than substitute it
  • our pricing is relative to the above
  • however, against usual secured overdraft rates – our costing is reasonable

  • we adopt a structured/customised approach to funding SMEs
  • we supplement a bank we do not substitute a bank
  • this means our clients utilise the banks for their traditional/vanilla finance needs & Spartan supplements this for their specialised/growth needs
  • your bank will typically require a higher degree & higher quality of collateral where Spartan as an alternative funder focuses more on backing an entrepreneur
  • Spartans average turnaround time is 5-10 days – for highly specialised/complex funding needs

Documents we require include:

  • online or offline finance application
  • historical financial information (for Spartan to assess business retrospectively) – this includes AFS/Management accounts and Bank account details/statements
  • business owners personal assets – we do secured and unsecured lending, this helps us with our risk mitigation

Why no business plan? We believe in meeting with the entrepreneur in order to understand the business holistically – from their perspective.

  • With Spartan you can sign all our docs online, on your mobile – wherever you are in the world
  • It is completely safe and legal
  • We make use of a top tier service that enables quick, easy and safe e-signing
  • find out more about our e-signing safety here
  • find out how to e-sign here

  • we define collateral as a tangible asset, with a liquid, secondary market [e.g. property]
  • we define security as a legal instrument that provides some comfort [e.g. cession of debtors]
  • depending on the nature and context of the financing required we will often require some form of collateral/security however
  • as an alternative financier we also try to give consideration to the needs of the business and its context
  • in certain cases security/collateral can take forms more relevant to purchase orders and contracts

Whilst we finance Small & Growing Businesses across all industries – we find that the businesses in the following segments tend to get significant benefit from our niche finance offerings:

  • manufacturing
  • construction
  • engineering
  • tech businesses
  • education
  • healthcare
  • business services
  • professional services firms
  • project related businesses
  • contract related businesses
  • digital media
  • agribusiness

It’s both our philosophy & policy not to finance businesses that negatively impact People and Planet.

  • Production or trade in any product or activity deemed illegal under host country laws or regulations or international conventions and agreements, or subject to international bans, such as pharmaceuticals, pesticides/herbicides, ozone depleting substances, PCB’s, wildlife or products regulated under CITES.
  • Production or trade in weapons and munitions.
  • Production or trade in alcoholic beverages (excluding beer and wine) (Primary).
  • Production or trade in tobacco (Primary).
  • Gambling, casinos and equivalent enterprises (Primary).
  • Production or trade in radioactive materials.
  • Production or trade in unbounded asbestos fibres.
  • Drift net fishing in the marine environment using nets in excess of 2.5 km. in length.
  • Production or activities involving harmful or exploitative forms of forced labour/harmful child labour.
  • Commercial logging operations for use in primary tropical moist forest.
  • Production or trade in wood or other forestry products other than from sustainably managed forests.
  • Industries related to pornography

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