FNB

FNB started nearly 100 years ago in 1836, making it one of the oldest banks in South Africa. In 1998 First National bank merged with Rand Merchant Holdings and Anglo American. That’s when First National Bank became First Rand Limited.

First Rand Limited now offers you several services under this umbrella:

• Rand Merchant bank deals with various investment opportunities
• FNB is the bank you know that deals with commercial and retail banking
• Wesbank that’s an installment finance provider.

Taking Care of the environment

FNB takes sustainability seriously. While they provide you with the best service they take care of the world around us. By acting responsibly FNB is doing their part to ensure a brighter and healthier future for all of us.

They have adopted paper and water-saving initiatives to help save our planet. The communities are educated and helped as much as possible to try and keep our earth alive and beautiful.

How South Africans see FNB

In 2019 FNB was voted the most valuable banking brand in South Africa, this means that the brand itself was voted best in the country. 2017 saw FNB winning a similar award - the strongest banking brand in South Africa.

From 2012 through to 2019 FNB was given the title of coolest bank because of their great innovations, giving you access to banking anytime and anywhere. Between 2015 and 2018 First National was voted the most reputable bank in SA.

Dealing with a bank that has been acknowledged so many times in so many diverse ways should give you some peace of mind.

Both their business and private divisions have received numerous other awards through the years. When you go to FNB for credit for your business, you’ll be in good hands.

The staff and management at FNB are there to help you build your business and to succeed. They want to give you the right credit to see your business grow and prosper, without your business’s success, FNB will not succeed.

FNB has a number of credit facilities to help you take your business to new heights. Opening and running your own company is difficult, sometimes you need financial backing to overcome obstacles you didn’t foresee. Below are some of the products that you can choose from.

Business credit options available at FNB

Overdraft facility

Sometimes you need a quick and urgent cash injection, a vital piece of equipment needs replacing or fixing. When you encounter a problem like this you need to sort it out quickly. That is where an overdraft is such a big help.

The funds are available immediately and you only pay for what you use. The repayments are flexible with no minimum payment, as long as you do not go over the amount that is allowed to you.

So if you use R2000.00 of a R5000.00 overdraft there is no required payment. If you exceed the R5000.00 you will need to make payment. It is however a good idea to keep your overdraft in a good position for emergencies.

Term business loans

The business loan is a set loan that gets paid off monthly. Depending on your credit rating, it is possible to get a loan of up to R400 000 without security. The repayment term is anywhere from 3 months to 5 years. By setting the Interest rate from the agreement phase you can budget monthly.

Bounce Back Business Loan is perfect for younger businesses, small to medium enterprises that need a bit of a boost. The interest rate is set at prime +3 which can be beneficial to you, depending on the prime lending rate. The minimum loan amount for this loan is R10 000 and is reserved for enterprises making less than R100 million. The great thing about this loan is as you succeed you can pay it off quicker and not get penalised.

Revolving credit facilities for companies

The revolving loan is perfect for sneaky expenses. As long as you have 15% of the total loan amount available it is accessible. For example if you loan the minimum of R20 000 and have used R18000 it leaves you with R2000 or ten percent. You have repaid R5000.00 with monthly repayments, so you will have access to R4000.00 credit.

Commercial property finance solutions

With FNB you have access to asset and property finance too, depending on what you need to fulfill your business potential FNB are here for you.