NEDBANK just recently launched its SME Division. Currently, NEDBANK offers the following products for SMEs in all of its branches:

1. Business Account with Overdraft: An overdraft is a short-term loan arrangement, where your account limit gets extended up to an agreed amount. It’s the most common type of business loan. Depending on your businesses turnover, NEDBANK offers overdrafts from 50.000 – 1 Mio N$.
2. Business Loans: NEDBANK offers business loans from a min. 100.000 – 5 Mio N$. Collateral is required.
3. Asset-based Finance: this loan product aims to finance vehicles, machinery and other equipment. The asset that is bought (i.e. car, machine, etc.) also serves as the security (or collateral) for the loan.
4. Commercial Property Finance: this loan product aims to finance land and properties, like factory buildings or office buildings. It more or less works like a mortgage loan.
5. Contract Finance (NEW!): in case you won a tender or secured a purchase order, but do not have the liquidity to deliver, this product provides you with financing against the tender documents, purchase orders or project agreement.