Telkom Business is committed to backing small, micro and medium enterprises, not only through ensuring that they stay connected and productive, but also providing them with the correct resources and information that will enable SMMEs to thrive.
That is why Telkom Business has partnered with Bizcash, one of South Africa’s leading online invoice discounting platforms to bring financial solutions to SMMEs as businesses grapple with the tough business environment on the back of the COVID-19 pandemic.
Since 2019, Bizcash has offered financial solutions from selective invoice discounting and business loans to overdraft and term loans.
So far, Bizcash has paid out more than R628 million to SMEs and assisted more than 494 businesses. Its financial solutions enable businesses to smooth out cashflow and capitalize on opportunities when needed.
“Telkom Business and Bizcash have teamed up to ensure that small and medium businesses have access to the correct financial tools and information that will allow them to successfully weather the uncertainties brought about by the pandemic,” said Telkom Business.
“The challenges of SMMEs have a significant impact on our economy as these businesses employ more than half of SA’s workforce.”
Bizcash said: “Telkom Business partnered up with Bizcash as their mission is the same, to not only educate South Africa’s SME’s but to also provide them with information about alternative financing options that are available as many SME’s are not aware of the various options in the market.”
“The partnership will also help these businesses to increase their cash flow and allow them to use the funds to grow their business,” Bizcash added.
To find out more about the Telkom Business-Bizcash partnership, please visit www.telkombusiness.co.za.
Bizcash financials solutions include:
- Selective Invoicing Solutions: A selective invoicing solution facility that allows businesses to get an advance on unpaid debtors’ invoices on a confidential or disclosed basis from a single or handful of debtors.
- Business Loan: A fast and flexible working capital injection for a short-term loan requirement.
- Overdraft: A facility that allows businesses to access funds during cashflow crunches.
- Term loan: A flexible working capital facility that is repaid in regular monthly payments over a set period.
- Supply Chain Finance: A platform for buyers and suppliers to improve their working capital without accruing new debt.
- Add-on Trade Credit Insurance: Allows businesses to insure their debtors payment risk which may result in better interest rates on Bizcash facilities.