Spartan Finance

Spartan has been around for 40+ years. Established in 1981 they’re situated in Johannesburg and are registered authorised financial service providers.

Spartan Finance stands out in the industry because they focus on backing small and medium-sized businesses and building South Africa. They’re an independent company that provides alternative financing options.

The Spartan Finance company culture

Spartan wants to support the South African economy, by supporting South African entrepreneurs. They aim to do this with respect for the customer and their colleagues, honesty, passion, innovation and personal growth. Spartan is determined to succeed, so you succeed.

Finance for existing businesses

Spartan does not offer financing to start-up companies. They focus on small and medium enterprises that have growth potential. Start-up businesses are incredibly risky to finance and approximately 20% of businesses fail in the first year.

With that in mind, a company, even a small one that has been around for a year or more, has experience and ideas for growth and correction.

Supporting businesses that will have an impact

Spartan believes in the upliftment of a beautiful country, which is why they back the types of enterprises that have a positive impact on the community. They won’t provide funding to any business that could harm people or the environment in any way.

Why choose alternative over traditional finance?

Alternative finance solutions are not going to replace the traditional finance you get from banks. They can help with more specific requirements, especially because of the customisable aspect of the finance.

Banks often need collateral or surety before they’ll grant you a loan. Alternative finance companies like Spartan offer business loans without the hefty collateral requirements.

Another reason to consider Spartan Finance and its alternative solutions is the turnaround time. Business loans from traditional service providers can take a long time.

Their approval and payment time can, at times, take weeks. Spartan’s turnaround time is 5 to 10 days. So from the time of application to the time of receipt of funds is on average between 1 and 2 working weeks.

Spartan offers funding to businesses that make between R5 and R10 million per annum.

If you earn less than R10 million a year you’ll need to prove current growth in the form of purchase orders, contracts or a current project.

Spartan offers a range of financing solutions, which include:

• Working Capital finance including short-term financing like bridging finance and purchase order financing. This is for day-to-day expenses like rental and stock.
• Growth finance includes medium-term finance, mezzanine finance, bridging finance, medium-term finance and acquisition finance. This type of finance is used for anything that will help the expansion of your business.
• Specialised asset finance for the purchase of any asset in your company, including vehicles, materials, computers or software and equipment.

Equipment finance from Spartan

Equipment means something different to every enterprise. Depending on what service or product you provide equipment is specific to your business. Coffee shops need hospitality equipment, construction companies need earth-moving equipment.

Equipment needs maintenance, upgrading and sometimes replacement. There isn’t always a budget to carry out the necessary tasks.

Spartan Finance wants to get your equipment up to scratch as soon as possible. Equipment finance covers everything from heavy machinery to computers and software. Basically everything you’ll need to run a successful business.

Minimum, Maximum and repayment amount

Spartan Finance makes flexible finance options available. Their minimum loan amount is R1 million with a maximum of R25 million.

The maximum is a flexible amount if you have specific requirements which show sufficient return to afford the loan.

The terms for equipment or asset finance are between 12 and 60 months. The repayment and loan amount will be agreed to when you accept your loan.