Fintech sector disruptor ProfitShare Partners is well into a year-long campaign to #GetSAWorking, and assisting small and medium enterprises (SMEs) to take their place as the backbone of South Africa’s economy.
In providing qualified SMEs with their share of R100-million, CEO and founder of ProfitShare Partners, Andrew Maren says: “Building small businesses leads to job creation, but small business often don’t know where to turn for funding and often have doors shut in their faces.”
Maren had noted a significant gap in the market for the funding of SMEs, and formed ProfitShare Partners in 2017.
“We started the #GetSAWorking campaign on 1 June 2020, and to date have assisted businesses with over R43 million,” he says, adding that there is still a massive R57 million to be disbursed over the remaining seven months.
How to apply to #GetSAWorking
Unlike traditional banking loans, applicants are not required to have financials or security, and first-time clients have the benefit of ProfitShare Partners’ experts helping out with the process.
Says Maren: “The first step is for SMEs to come to us and say: ‘I have this great transaction and here’s a large corporate that is willing to buy my product or service.’ With proof of an order or a contract from the corporate, ProfitShare Partners is then able put up the capital.”
Once the SME fulfils all ProfitShare Partners requirements, the team gets to work making the capital available and the opportunities for success happen. Both the capital and the process is designed to #GetSAWorking.
“There’s another huge incentive to join us in #GetSAWorking,” says Maren. “At the end of the campaign, one of the beneficiaries who got capital approved over this year period stands a chance to win R1 million in cash for their business.”
SMEs who meet the criteria noted here could be one of the many who will be supported, step by step, to help the South African economy recover – and thrive.