Asset-backed Funding For SMMEs

Funding applications by small business operators are currently open at Mutualism Investments until 31 October 2021. Small business operators in Johannesburg and Cape Town are encouraged to participate in particular from within the townships that surrounding these two cities where Mutualism currently has offices.
Financing will be up to R200 000 to purchase assets required to run/operate a business whether as a new start-up business or as a growing small business. This funding is a loan that a borrower must repay over an agreed repayment term. Thereafter the business asset will be 100% owned by the business. According to Thapelo Chabane, Manager of the Mutualism Office and Business Centre, Soweto, for repayment terms of 24 months the interest rate is currently fixed at 11.5 %.
Mutualism specialises in the development of Township SMMEs through financing and tailored consulting to help the business grow and be sustainable. Currently they are scaling to develop hundreds of SMMEs across South Africa in the next six months. The purpose is to keep the business ownership local so that the money circulates within the community and the community develops sustainably. This mission is informed at Mutualism by the concept of “Izandla Ziyagezana” vested in Mutualism’s two firm beliefs that: 1) a key to a successful partnership is a mutually beneficial relationship built on mutual respect and; 2) great ideas and great people are everywhere…
According to its website, www.mutualism.co.za, Mutualism offers tailored support based on experience and expertise in business strategy, finance, marketing and relationship building. More information may be found and applications lodged and processed through the website accessible through your smartphone or computer, alternatively through computers at the Mutualism Business and Internet centre on 7166 Vilakazi Street, Orlando West, Soweto.

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