Purchase Order Funding for South African SMEs and SMMEs

Kenote Finance’s mission has always been to create a product that will make it easier for the small guy to access purchase order funding without hassles.

This is why our slogan reads: ‘Where everyone is welcome’.

Our vision is to create an economy where anyone can participate regardless of credit worthiness or trading history. Kenote Finance funds Purchase Orders issued by government departments, state-owned entities and reputable companies. Our purchase order funding model is simple, quick and convenient for all SMME’s and SMEs in South Africa. Our purchase order funding ranges from R 300 000 to R 5 Million.

Our funding model is structured to make it easier for businesses to access purchase order funding through our no barrier application process which is quick and simple. Our interest fees are low, based on expenditure and designed to put more money back into the client’s hands.

Our purchase order funding application process is simple, only requiring the submission of 3 documents. An online application for purchase Order funding on the Kenote Finance website only takes 2 minutes. This is our way of making the application process accessible for more businesses. Traditional funding houses usually request financial statements, annual revenue as well as trading history.

These factors become a barrier to most SMMEs in accessing funding. Once an application is received, our credit team will then assess the purchase order funding application without delay and one of our account managers will make contact to better understand the purchase order funding requirements. It generally takes 24 hrs for an application to be approved or declined. At Kenote Finance, we endeavour to assist as many SMME’s as we can. We consider a variety of projects, ranging from a straightforward supply and delivery to more complex projects, which sometimes involve manufacturing, installation and service project.

Our ethos is that each project is unique and is assessed on its own merits. Katlego Gabashane, client liaison officer explains the experiences of most clients. “A large majority of the clients we have assisted for purchase order funding came to us with unfavourable conditions such as being pressed for a delivery within days, being charged high-interest rates or the difficulty of accessing funding due to complex applications and barriers to entry from other institutions.”

SMME’s need an institution that will understand their pain and frustrations, an institution that is designed for them that they can grow with.

We have surely done that. We have gone above the call of duty for our clients even as far as importing imported goods from other countries on their behalf.

We strive to further empower communities through our next product offering which is our venture capital initiative. This will be aimed at establishing and funding more product-based businesses. Our clients will have an opportunity to create value in their society through these products. Our purchase order funding has assisted more than 550 clients with purchase orders totaling more than R 100 million.

Kenote Finance is a registered credit provider, NCRCP8233

Article taken from MyBroadBand - https://mybroadband.co.za/news/industrynews/408704-kenote-finance-purchase-order-funding-house.html