CAPE TOWN - XPRS Capital Africa, a business funding provider, is aimed at helping SME's in SA with short-term business funding ranging from R50,000 to R500,000.
The company believes that it is necessary as there is an increased demand for reliable and easily accessible capital for SME's in SA.
Simon Leps, CEO of XPRS Capital Africa revealed that according to surveys around 40% of SMEs in SA claim access to funding is their biggest concern.
“The fact is that not all of these companies qualify for loans and, those that do, often have to undergo lengthy application processes and provide security that they just don’t have.
With business confidence in South Africa starting to rise, it is vital that these companies are provided the resources that they need to take advantage of their available opportunities", says Leps.
In addition, XPRS Capital Africa specialises in extending funding to SMEs that may not qualify for funding from traditional lenders.
“The technology and approval processes developed by XPRS Capital has a massively successful track record overseas and the experience that our company has gained over the years will help many more SMEs in South Africa to reach their potential,” says Leps.
“The XPRS platform has processed over $1b worth of loans and has a proven track record of funding thousands of businesses across hundreds of industries,” says Leps.
“Traditional lenders are often reluctant to lend capital to SME owners whose credit histories place them in higher risk categories. This has created a massive challenge for many promising SMEs. At XPRS Capital Africa, we focus on the health of the SME, and use state-of-the-art technology to provide businesses the cash flow they need to grow and flourish.”
“Using the unique algorithm that we have optimised for the South African market, we are able to accurately assess any SME that has been in business for over a year, to rapidly provide a 6- to 12-month funding solution.
The online application only takes 10 minutes, allowing SME owners to spend less time filling in forms for funding, and more time on their business.”
XPRS Capital Africa provides funding directly, working closely with SMEs to offer the fastest approvals, best possible repayment terms and most accurate risk profiles for any business.
“Cash flow is the lifeblood of every single business. Our mission is to provide this quickly, affordably and reliably,” Leps concludes.
- BUSINESS REPORT ONLINE