SMEgo puts multiple potential funders for your SME in the palm of your hand
Cash flow is one of the biggest challenges for small and medium enterprises (SMEs) around the world, and South Africa is no different. The global pandemic exposed this in a devastating fashion, which is why Old Mutual Corporate has powered SMEgo, an easy-to-use online portal that allows SMEs to apply for funding from multiple funders with one application.
According to research conducted by SMEgo at the start of the Covid-19 pandemic in South Africa, 93% of small business owners had no other source of income, and 86% didn’t know where to access emergency funding.
According to Nobesuthu Ndlovu, Director SME: Old Mutual Corporate, the pandemic created an acute liquidity crisis for South African SMEs. “Cash is the lifeblood of a business. A few days without an income can cripple, if not destroy, a small business,” she says, which is tragic considering that the health of SMEs is vital for the long-term prosperity of the country’s economy.
SMEGo is an online portal where a business can apply for different types of funding. Only one application form needs to be completed online which is then applied to various types of funding available from several different funders.
One of the strengths of the platform is that a business only needs to complete and upload documents once. The process is fast, flexible and they can track and check their progress online and also get access to support and mentorship.Nobesuthu Ndlovu, Director SME: Old Mutual Corporate
Ndlovu says no two circumstances are the same, which is why businesses need to be able to access different funding types depending on their unique set of circumstances. However, she says, experience has shown that the process still needs to be fast and user-friendly which is why SMEgo was created.
For more information or to apply now, visit www.smego.co.za
Source : https://www.smego.co.za/