Company name: Standard Bank
Contact number: 0860 123000 or +27 11 299 4701
Postal address: P O Box 7725, Johannesburg,2000
Physical address: 5 Simmonds Street, Johannesburg
Website address:www.standardbank.co.za
Established: 1969
About:
The Standard Bank subscribes to the Code of Banking Practice, a set of principles governing banking in South Africa and ensuring the highest standards of professionalism, integrity, and fairness. They deliver services through morethan 1 000 points of representation and service 18 sub-Saharan countries and 21countries on other continents, including the key financial centres of Europe,the United States and Asia.
For those who have their own business and are always looking for ways to grow, Standard Bank has developed guides with practical information and advice to assist SME’s and covers issues such as; starting a business, managing growth, marketing and finance.
Mandate:
This is a form of finance to obtain the working capital needs of growing businesses. We purchase approved trade debtor invoices with an agreed portion, usually 75%, being paid at the time of purchase and a similar portion paid on all future approved trade debtor invoices.
Applicant criteria:
- Minimum turnover of R200 000 a month
- Receive repeat orders from your customers
- Sell on credit terms not exceeding 120 days
- Trade with suppliers of sound financial standing
- Have few trade disputes
- All financial controls and administration should be fully computerised, allowing you to produce a monthly income statement and balance sheet.