Telkom launches SME funding programme

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

Johannesburg - Telkom Business has launched a funding programme that enables small businesses to apply online for funding and get an answer within 24 hours.

The project called Telkom Lend has a digital process that means no paperwork, no long queues or waiting for a response from a financial institution.

Telkom Financial Services managing executive Sibusiso Ngwenya says business funding from Telkom Lend will ensure that small businesses are able to grow with fast funding without the need to put up any collateral.

“This also means that businesses take control of their payments. With funding offers ranging from R200 000 to R5 million, depending on monthly turnover, funding can be paid back over three to 12 months on a daily or weekly basis, depending on the business cash flow,” Ngwenya explains.

Applications are checked for eligibility with Telkom’s proprietary automated scoring model. This saves time and gives business owners a chance to focus on their businesses instead of filling in forms and standing in queues.

Ngwenya says it is not only the application that is handled quickly. “Money will be paid into the

Telkom Financial Services managing executive Sibusiso Ngwenya account once approved within 24 hours to use for various needs including expanding a business, purchasing equipment or renovating premises. Another benefit is that a business does not pay a penalty to settle the outstanding balance earlier, as it will instead qualify for a discount,” he says.

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.

“Data is used to review the creditworthiness of businesses and speed up the funding process. The combination of technology and data analytics provides funding for businesses and also drives financial inclusion while supporting economic growth,” Ngwenya adds.

Fast funding for businesses is becoming a necessity enabling businesses to get capital and to be responsive to immediate opportunities, instead of waiting for weeks for an old-style bank loan to potentially be approved. For more information visit https://telkombusiness.co.za/ businessloans or call 10217.

Fashion Police contest celebrates local design

Johannesburg - The Local Fashion Police online competition was launched in Johannesburg on 10 August.

Members of the public have until the end of 7 October to post photos or selfies of themselves on social media wearing South African fashion, be it locally made ready-to-wear garments or designer couture, while showing the label of origin in the picture.

Participants are also encouraged to tag the store and/or designer they bought their outfits from.

A submission that catches the eye of one of the fashion designers stands a chance of winning one of four R20 000 fashion vouchers.

Proudly SA marketing officer Happy Ngidi says: “Our clothing sector produces high-quality garments, and South Africans may be surprised to learn that our designer couture is affordable enough to allow you to step out for that special occasion in style.”

She says Proudly SA encourages people to buy local, support local jobs and celebrate South African design excellence because of the sector’s vast capability for economic growth, innovation and creativity.

“The garment sector holds immense potential to create and sustain jobs. Consider this an invitation to show how you rock that Mzansi style,” Ngidi says.

The Local Fashion Police 2022 online competition will culminate in an awards ceremony and fashion show on 27 October.

For more visit https://proudlysa. co.za/competitions/2022/FASHION_POLICE_COMPETITION/ terms&conditions.php.