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

23 September 2019 11:06 AM
Tags:
Small businesses
The Money Show
Bruce Whitfield
Adrian Gore
Discovery
Bidvest
Brian Joffe
SMEs
small business
sme
SA SME Fund
Spartan SME Finance
Kumaran Padayachee

Spartan SME Finance provides finance for small businesses. Bruce Whitfield interviews its CEO, Kumaran Padayachee.

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.

In 2019, 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.

pixabay.com, 2019

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

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


23 September 2019 11:06 AM
Tags:
Small businesses
The Money Show
Bruce Whitfield
Adrian Gore
Discovery
Bidvest
Brian Joffe
SMEs
small business
sme
SA SME Fund
Spartan SME Finance
Kumaran Padayachee

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