• Caught in the debt trap?

    Help us help you by taking our second annual Debt survey and you could win R3 000.

  • Rich man, poor man

    Culture change from below is the only way to overcome poverty, says Leopold Scholtz.

  • Tech bubble talk

    After the tech euphoria of 2013, the fast-moving sector has hit a speed bump.

Data provided by McGregor BFA
All data is delayed
Loading...
See More

A truck for our startup

Oct 11 2012 15:42
A Fin24 user writes:

We (four directors) are starting a small transport business (delivering sand, stone, etc). We all have our day jobs as well.

We are in need of a R100 000 to purchase a tipper truck. There is no way a bank will give a startup business this kind of money.

We want to know if two individuals can take out one loan, or how can we get a loan to buy a second-hand truck?

Business development consultant Anton Ressel responds:

My suggestion, before looking at any commercial loan option or personal loan  - which will require surety and attach onerous interest - would be to contact the Small Enterprise Finance Agency (SEFA) and find out if you qualify for a loan through its channels.

Their website is www.sefa.org.za, but you should rather call them on 08600 54852.

 - Fin24

* Do you have a pressing financial question? Post it on our Money Clinic section and we will get an expert to answer your query.

*Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.  

Disclaimer: Fin24 cannot be held liable for any investment decisions made based on the advice given by independent financial service providers.

Under the ECT Act and to the fullest extent possible under the applicable law, Fin24 disclaims all responsibility or liability for any damages whatsoever resulting from the use of this site in any manner.
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're Talking About: Small Business

Standard Bank is looking for 12 entrepreneurs to participate in a 10-part TV series. They could win a R1m investment into their dream.
 
 

The rich will pay - Mpofu

The EFF in Gauteng will focus all its energy on improving the lives of the poor, the party's premier candidate Dali Mpofu says.

 
 

Latest elections multimedia

Watch what happened when we blindfolded Helen Zille and asked her to eat random things
13 days to elections - news you need to know
11 Julius Malema quotes you'll never forget
DA won't get 30% - Zille

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...