Telkom Business has launched Telkom Lend, a platform that enables small businesses to apply online for funding and get an answer within 24 hours.
“An end-to-end digital process means no paperwork, no long queues and no waiting for a response from a financial institution,” it said in a statement on Thursday .
“This also means that businesses take control of their payments. With funding offers ranging from R20 000 to R5 million depending on monthly turnover, funding can be paid back over three to twelve months on a daily or weekly basis, depending on the business cash flow,” he said. “Money will be paid into the account once approved within 24 hours to use for various needs including expanding a business, purchasing equipment or renovating premises,” Ngwenya said.
Businesses that apply for funding must have been in operation for at least six months with a monthly turnover of at least R30,000 and have a trade history of at least three months. Any business can apply – not only those that have a relationship with Telkom Business.
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