Spartan is a South African SME lender and exclusively focused on financing SMEs and entrepreneurs. This means that they serve a target market with expectations of fast turnaround time, convenient engagement and aversion to documentary compliance.
To meet those expectations, Spartan has created and adopted technology in key aspects of the financing process for SMEs.
Spartan, being one of the pioneers in Software Finance for SMEs in South Africa, got the opportunity to be plugged into the forefront of the software ecosystem. They’ve used their insights and networks to develop and adopt technology to aid the financing of SMEs.
Kumaran Padayachee (47) has been Spartan’s CEO since December 2003. He is an SME Finance specialist in South Africa and he co-hosts two TV programs aimed at assisting SMEs with strategy and sourcing funding. He is a certified expert in SME finance and studied at MIT, USA.
|Borrower||Spartan Impact Finance (PTY) LTD|
|Founded||1 January 2011|
|Active on Lendahand since||1 March 2019|
Financial information per 2021-03-31
|Write-off ratio last 12 months||0.00%|
|% investment amount in arrears (>90 days)||32.00%|
About South Africa
South-Africa, officially Republic of South-Africa, is a country on the southern end of Africa. It is a developing country with, according to world standards, an average income level. The financial, legal, communication, energy and transport sectors are well developed as is the country’s infrastructure, but the unemployment rate, being 26%, is still especially high and the economical problems emerging from the apartheid system haven’t been solved. The government aims to improve economic growth and attract more foreign investments by softening labor legislation, accelerating privatization and diminishing government spending.
Last funded project
With EUR 100,000 Spartan will be able to provide working capital to an SME company, which operates in the transport sector, enabling it to repair and re-licence trucks and trailers, in order to fulfil a contract from a large corporate client.