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What Type of Loans Does Nedbank Offers for Businesses?

Do you live in South Africa and are looking for financial support for your business? You are right. Nedbank can be one of the most convenient alternatives at the time of choosing a reliable banking company. In fact, this is one of the best financial institution in the market that due to its years of experience has gained much prestige in South Africa.

    In this post, you will find data about the different lending options for businesses that are looking to expand or even improve their offices and locations. And that is not all, apart from giving you that type of information, you will be given contact details of Nedbank in South Africa, so that you and your business can easily reach their lending programs.

 With Nedbank, you and your business can find the perfect solution for every financial problem. With such funds your business will be capable of paying for every expense related to business ventures, expansions of offices and also any machine or material that need to be bought in the short time.

Let’s see how Nedbank can make you and your business grow at an unprecedented scale through their programs:

BUSINESS GROWTH LOAN

This is a type of loan designed for owners of small businesses that want periods of time to finance the loan that range from 2 to 10 years. Businesses that acquire this loan can give it many uses. For instance, they can purchase new products or even new physical offices. There are no limits as regards the different uses partners can give to the funds the bank provides them.

Let’s focus on its main advantages for clients:

-Interest rates will be lower in comparison to other banking companies

-There won’t be taxes calculated or deducted from the client´s account, which is something great and represents an opportunity of saving money in the long term

-The bank will give clients complete access to a credit line called Nedbank Credit Life Cover

Now, if you are interested in applying for this loan, you should know that the requirements will depend whether you by your own are planning to apply for the loan or as a company:

Applying for the loan on your own:

-Putting forward your last three business bank statements

-Submitting your last three bank statements of your personal account

-Showing what type of assets and facilities you own and their cost

Applying for the loan in representation of your business. You need to put forward the following documentation:

-You rental expenses

-Your business ‘as three statements with the banking company

-A document that mentions what assets you possess

-A documents that shows your last transactions with the bank

-Documentation that belongs to your business

-A documents with the names of every partner or owner of the business, for the bank to know who manages the company

OVERDRAFT AND SHORT TERM LOAN

This program wants clients and their business to make sure they are granted funds in an easy way and there is no limit as regards the amount.

Here you have its benefits:

-Clients that are found eligible for this loan can easily be granted the money they need and have certain flexibility at the time of financing the whole loan



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-The money granted can be obtainable through more than one medium

-The interest rates will fluctuate each month depending on how much money the business has been granted and its availability to make each monthly payment

-Clients can have access to the funds granted by using mobile banking

-The amount of money granted is even more than the one offered by other companies in the financial area

-Once the client is found eligible your account with the bank will be created and you will have quick access to the money

DEBTOR MANAGEMENT

This is a special program that will help businesses to expand, have access to bigger amounts of money and purchase new machines and equipment’s for each physical office. How? The bank will help these clients to finance their debts- Take a look at their help:

-Invoice discounting

The bank will make an important discount on your invoices  and then their representatives will make sure that you or the business owners have access to at least 20% of the founds, which will appear on collection. This is a very reliable service for companies.

-Factoring

Through this service, the bank will buy and finance 80% of your debts, which is a great option for those companies that are just starting to incorporate in the market.

-Single-invoice discounting

This is a wonderful service through which companies can buy single debtors, especially those businesses that are looking for a reliable company to finance their expenses and debts.

-Export factoring

The bank is willing to buy invoices that are for export and then when your debts are forgiven, the bank is willing to finance a big percentage in your actual invoice. Again, there is a small percentage that can be used in collection

 

Contacting Nedbank

In person

One of their offices is found at Permanent Building, 26 Voortrekker Rd, Alberton, 1449, South Africa, whose telephone line is the following: 27 11 724 0800 and opens Mondays and Fridays from 08:30 in the morning to 04:00 pm.  This branch even opens Tuesdays and Wednesdays from 09:00 am to 04: 00 in the afternoon. What is more, this office opens on Saturdays from 08:30 in the morning to 12:00 in the afternoon.

There is another office located at Cnr Heidelburg Rd & Shop 23, Newmarket Mall, Ring Rd E, Alberton, 1449, South Africa. Its phone number is 27 11 724 9800 and has similar opening hours as the previous office.

By phone

The bank has a phone number for general inquiries, so that clients can call and ask all their questions:0860 555 111. 

Online

 You can always take advantage of Nedbank´s official website in order to gain complete access to their services and products. For instance, you can apply online.

All in all, when it comes to monetary terms, living in South Africa and starting or expanding your business is pretty easy thanks to the help granted by Nedbank. You only need to find the program that best adapts to your need and see how it can change your life.

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Leave your questions or comments

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Questions and Answers

Does this bank has a free number?
The number provided above is for free( the one for general inquiries)
Does this bank charges you for opening an account?
That service is for free
Can I buy a house with Nedbank?
Sure, there are Home Loans for that

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Rating: 4
Comment: I opened another location with this bank
Rating: 4
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Rating: 5
Comment: There are refinancing options

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