The global pandemic has reshaped the world as we know it.
Small businesses that were geared for success suddenly hit a brick wall. Today, they are in for an enormous uphill battle. In a world where companies are closing and salaries are disappearing, we are once again looking to innovation and technological solutions to re-invent financing solutions.
Many business owners struggle to navigate the complex financial environment in which their businesses operate. They need assistance with financial literacy, financial planning and effective money management. They don’t have massive resources and the wasted effort in approaching the wrong funders or submitting incorrect information when applying for finance can be spent on more productive activities.
VodaLend from Vodacom Financial Services offers businesses an ecosystem of convenient digital finance solutions. Specifically designed to be flexible, affordable and accessible to more people than ever before. All applications are digital which means we can deliver quickly, effectively and adapt according to your needs.
An effortless end to end digital experience
Quintin Van Vuuren, Executive Head of VodaLend at Vodacom Financial Services believes that SMEs operating today, require easy online funding applications, faster turn-around times on application approvals and the ability for the business owner to access the cash they need quickly and with minimal effort.
Unlocking economic opportunities that will drive inclusive economic growth and sustainable employment, particularly for small businesses in South Africa, is a commitment that Vodacom Financial Services is passionate about. This commitment has seen VodaLend play an integral role in implementing customised funding solutions to support South African small businesses.
Van Vuuren explains, “Small businesses feel the impact of rapid economic movements more severely than larger corporate institutions. SMEs don’t have large cash reserves, or teams of accountants managing their budgets and cash flows. SMEs can’t afford to waste resources, money and time when applying for business finance. That is why we’ve focused on providing businesses with an effortless end to end digital experience when applying for finance.”
VodaLend | Business Advance is a disruptive SME business funding solution, where applicants can apply online, furnish basic business details, and receive a response within hours. The 10-minute online application process doesn’t require complex annual financial statements or stacks of paperwork. Best of all, most applicants receive a decision within minutes. Successful applicants could have the cash in their bank accounts within 24 hours of applying.
Van Vuuren concludes, “I believe that as an innovative financial services provider we have a responsibility to provide assistance based on the company’s individual application. That’s why in certain cases, we adapt our application scoring criteria and rates to meet the individual attributes of the business. Our minimum requirements for funding are much less intensive than those of more traditional funders. ”
So, if you’re a South African small business that’s been operating for at least one year, with an annual revenue of R500 000 this digital business funding solution could be perfect for you. Click here to put the four step application process to the test.
Four steps to apply for business finance in under ten minutes
With VodaLend | Business Advance you can potentially access up to R1.5 million in funding, plus free legal assistance in less than 10 minutes.
1. Click on “Apply in 10 minutes” and follow the easy steps
2. Link and upload your financial history to your profile
3. Click “Submit Application” – Once you’ve done this, you need to verify.
4. Verify and submit your application using your preferred email address