ShapeShifter

Need a loan to grow your small business? There’s a pot of money waiting

We provide loans [to small businesses]. We do not invest in them… Our average loan size is about R4 million…

Kumaran Padayachee, CEO - Spartan SME Finance

We don’t fund ideas. We fund a business that is already doing something viable, and they need capital to grow… There is more money than there are viable deals… People are not presenting themselves well…

Kumaran Padayachee, CEO - Spartan SME Finance

Spartan SME Finance provides finance for small businesses.

Earlier in the year, it got R100 million from the SA SME Fund to bolster its R600 million kitty.

Spartan ringfenced half of the funding it got from the SA SME Fund Half for black African owned businesses.

Discovery CEO Adrian Gore and former Bidvest Chairperson Brian Joffe founded SA SME Fund.

Forty-eight JSE-listed companies bankrolled the Fund with R1.4 billion.

The Money Show’s Bruce Whitfield interviewed Kumaran Padayachee, CEO at Spartan SME Finance for his weekly “ShapeShifter” feature.

Listen to the interview in the audio below (and scroll down for more quotes from it).

We really scrutinise them very intensely, but very fast…

Kumaran Padayachee, CEO - Spartan SME Finance

They find us. We don’t have salespeople…

Kumaran Padayachee, CEO - Spartan SME Finance

Our bad debt write-offs are 0.25%... it’s nothing!

Kumaran Padayachee, CEO - Spartan SME Finance

We make our money on interest and fees…

Kumaran Padayachee, CEO - Spartan SME Finance

Get the 10 most-read articles of the week from Bruce Whitfield’s The Money Show, emailed to you every Friday morning:

Subscribe to our Business Wrap Newsletter


This article first appeared on 702 : Need a loan to grow your small business? There’s a pot of money waiting


Recommended

by NEWSROOM AI
Read More
'We expect an interest rate cut on Thursday. But it won’t help the economy much'

'We expect an interest rate cut on Thursday. But it won’t help the economy much'

The Money Show’s Bruce Whitfield interviews Kevin Lings, Chief Economist at Stanlib Asset Management.

The rand isn't weak. It's the dollar that's strong. But it won't stay that way

The rand isn't weak. It's the dollar that's strong. But it won't stay that way

The rand is trading at fair value. It’s the US dollar that's overvalued. Bruce Whitfield interviews George Glynos (ETM Analytics).

How to buy a new car even if you don’t really have enough money for it

How to buy a new car even if you don’t really have enough money for it

South Africans are increasingly buying cars they can’t afford using balloon payments, says consumer journalist Wendy Knowler.

Capitec Bank has the strongest brand of any company in South Africa

Capitec Bank has the strongest brand of any company in South Africa

Castle Lager came in second, followed by FNB, Black Label, Discovery and Vodacom, according to the 2019 Brand Finance report.

Advisor scams pensioners out of R100 million with promises of 14% returns

Advisor scams pensioners out of R100 million with promises of 14% returns

Bruce Whitfield interviews Phillip de Wet (Business Insider), Robert Walton (Boutique Collective Investments) and Brandon Topham.

[2018] Jesse Clegg (son of Johnny) opens up about money and growing up on tour

[2018] Jesse Clegg (son of Johnny) opens up about money and growing up on tour

[From the archives] Jesse Clegg talks about his famous father and attitude to money (hopes and fears, successes and failures...).

Popular articles
Feeling tired of life and burnt-out? You may want to check this out

Feeling tired of life and burnt-out? You may want to check this out

Bruce Whitfield interviews Judy Klipin, author of “Recover from Burnout: Life Lessons to Regain your Passion and Purpose”.

Allowing more skilled foreigners into SA will make us all more prosperous

Allowing more skilled foreigners into SA will make us all more prosperous

In one bold move, South Africa can secure leadership on the Continent while fixing our skills shortage, says Pavlo Phitidis.

Were missing SA men victims of Vietnamese organ harvesting syndicate?

Were missing SA men victims of Vietnamese organ harvesting syndicate?

Gift of the Givers fears two South African men who went missing in Vietnam may have fallen prey to an organ harvesting syndicate.

[WATCH] Father and daughter dance-off changes tune when she starts twerking

[WATCH] Father and daughter dance-off changes tune when she starts twerking

Khabazela shares tweets and Facebook posts that have gone viral.

'Crimes against tourists need to be taken seriously'

'Crimes against tourists need to be taken seriously'

Tourism Business Council of South Africa's Tshifhiwa Tshivhengwa raises concerns on transgressions committed against SA visitors.

Safety of visitors to Cape Town in the spotlight ahead of tourist season

Safety of visitors to Cape Town in the spotlight ahead of tourist season

CEO at Cape Town Tourism Enver Duminy explains what plans are in place to make sure local and foreigner tourists are safe.

[WATCH] 'I'm not trying to justify what she did,' Zephany Nurse in her own words

[WATCH] 'I'm not trying to justify what she did,' Zephany Nurse in her own words

Stolen from her mother's bedside as a newborn 22 years ago, Zephany or Miché Solomon as she is now known, tells her story.