BizFunding offers tender finance in Pretoria, giving businesses of all sizes access to working capital to fulfil tenders.
Large tenders are great for business, but they require a significant upfront monetary commitment. For businesses with limited working capital, this can make it hard to secure tenders. BizFunding can help.
What is tender financing?
Businesses that have secured a tender but lack the working capital to fulfil it can use tender financing to secure funding.
With tender finance, businesses can ensure their suppliers are paid. They can proceed with the tender, even if they haven’t been paid for the tender.
This means they don’t have to miss out on the opportunity to bid on a tender when they’re experiencing cash-flow issues.
The need for tender funding
Government tenders are the most common type of tender. They offer the opportunity for growth and innovation to businesses in a large range of industries.
Tender funding allows businesses to grow rapidly while building the business capacities, infrastructure and skills that South Africa needs.
BizFunding also funds new businesses. Innovative start-ups can accept lucrative tender opportunities and grow their businesses.
Challenges for SMEs in accessing traditional funding
A McKinsey & Company report showed that only 6% of South African SMEs receive government funding and only 9% have access to funding from private sources. The report also highlighted that around 90% of private equity funding goes to businesses older than five years.
In a recent survey by McKinsey, 36% of respondents said they weren’t receiving funding and 25% said they weren’t using payment reliefs such as UIF and PAYE. The top reasons for this were not qualifying, not being aware of these options and not knowing how to apply.
Traditional business lenders, such as commercial banks, make it difficult for start-ups to get approved for business funding. Banks require several years of financials and proof of a significant, established turnover.
How tender financing can help your business
If your business has secured a tender but you’re worried about how you’re going to pay suppliers, tender financing can bridge the gap between receiving a tender and getting paid for it.
BizFunding can cover the upfront costs of fulfilling a big tender. We get reimbursed when the customer pays the invoice.
Benefits of tender financing:
- easier to secure than traditional bank loans
- simple and straightforward application process
- funding can be secured within 72 hours
- no credit checks
- fixed fees with no hidden costs
- from R50,000 up to R2 million
- no minimum operating duration to qualify.
Don’t miss out on tender opportunities because of cash-flow issues. Bid on large tenders with confidence knowing BizFunding will back you up.
Who qualifies for tender finance in Pretoria?
Any business that has been awarded an official tender can apply for tender funding in Pretoria. The business must be fully compliant with business taxes and regulations.
Start-ups and new businesses can apply as long as they’re already established and have secured an official tender.
How our tender financing works
To secure tender finance in Pretoria, simply send your purchase order with the related quotes to info@bizfunding.co.za to secure same-day approval.
Once you have been pre-approved, simply send us the necessary FICA documentation. Once your documentation is validated, we’ll draw up the contracts and, if you’re happy with our proposal, we can go ahead with funding your business.
For new customers, funding takes three to five business days. It can be as short as 48 hours for existing clients.
Apply online now or call 012 001 0095 for more information.
