Can you get SME finance if you have a bad credit record?

Most traditional finance institutions are not prepared to consider funding a small business if the business or the business owner has a bad credit record.  Fortunately, there are still some options open to you and it may be possible to raise the financing you need. Why lenders use credit scores Lenders use credit scores (for both the business and the …

State of Entrepreneurship in South Africa

The number of youth entrepreneurs in South Africa may have dropped, but it is notable that more than 50% of entrepreneurs are youth. Also notable is the rise in the number of female entrepreneurs. More than half of the South Africans who run their own businesses are youth, according to the Real State of Entrepreneurship Survey 2017, undertaken by the …

Staying Afloat when Cash is Tight in your Small Business

The bad news in the SME market in 2016 was that 67% of small businesses that closed in South Africa did so for financial reasons. This is a far more pressing problem for local entrepreneurs compared to their regional counterparts, with 50% more South African entrepreneurs discontinuing their businesses due to a lack of access to finance compared to the …

Staying Afloat when Cash is Tight in your Business

The bad news in the SME market in 2016 was that 67% of small businesses that closed in South Africa did so for financial reasons. This is a far more pressing problem for local entrepreneurs compared to their regional counterparts, with 50% more South African entrepreneurs discontinuing their businesses due to a lack of access to finance compared to the …

Small Business, Big Money

If one were to imagine an online dating service for money and business – minus the selfies enhanced with the appropriate filters – FinFind would be it. The innovative online platform connects small and medium-sized enterprises (SMEs) in search of funding with finance providers that match their specific finance needs – whether it be grants, debt or equity. It is …

Securing Funding: Financial Readiness is Key to Success

Staying organised and on top of paperwork can be tricky for entrepreneurs who already have dozens of other balls in the air. Here is a simple tip to put you at the front of the queue to secure finance. Keeping track of financial documents and then needing to have up to date copies on hand when requested by lenders is …

Finance Challenges Impacting Entrepreneurs

Darlene Menzies, CEO of Finfind, talks about challenges impacting entrepreneurs. In South Africa, more than 80% of start-ups fail in their first year and of those who survive only half are still in business by year three – for a country that is relying on the small business sector to grow the economy this high failure rate is concerning and …