7 Best Small Business Loan Lenders in South Africa

If you’re planning to start a business but you lack the capital, one of the options to consider is to get a business loan. Similarly, expanding an established business can be costly and you may be short on money.

Either way, you need extra funding from the best small business funding resources available in South Africa.

To help you find additional cash infusion for your company, look at our list of the best online small business loan lenders in South Africa.

Small Enterprise Finance Agency (SEFA)

SEFA is designed to aid small, medium, and micro-sized businesses and co-operatives in all industries, particularly in the services, manufacturing, agriculture, construction, and green industries.

SEFA offers bridging loans, term loans, revolving loans, and structured finance to qualified businesses.

If your enterprise or co-operative is majorly composed of persons with disabilities, you can apply for the Amavulandlela Funding Scheme which is managed by SEFA.

It’s hard to qualify for a SEFA loan since you must go through 7 phases of checking. Still, SEFA remains to be one of the best online small business lenders because of the incredibly low rates they offer compared to banks and alternative lenders.

  • Loanable amount

The minimum amount that can be borrowed is R50 000, while the maximum is R15 million.

  • Terms

Repayment terms range from 12 months to 5 years.

  • SEFA contact details:

Website- www.sefa.org.za
Phone- 012 748 9600 / 086 000 7332
Email- [email protected]


First National Bank (FNB)

One of the best online small business lenders is FNB because of its flexible repayment terms and minimum loanable amount.

You must have an FNB Business Account with them before you can apply for their business loan and other financial instruments.

The account should have been active for at least 15 months, with an annual transaction of more than R500 000.

  • Loanable amount

The minimum is R2 000, while the maximum unsecured loan is up to R400 000. If you need more, you must offer collateral and other documents related to your cash flow projections.

  • Terms

Flexible terms from 3 months to 5 years.

  • FNB contact details:

Website- www.fnb.co.za
Phone- 087 575 9404 / 0877 362 247
Email- [email protected]


Absa offers short-term and medium-term business loans that include vehicle finance, property finance, and debt finance solutions.

Absa is one of the best online small business lenders because they provide options for skip payments and balloon payments.

These perks allow you to cope with loan repayments depending on your business performance for the year.

  • Loanable amount

You’ll have to talk with Absa agents to discuss how you’ll be using the money. Collateral may be required, depending on the amount you want to borrow.

  • Terms

Loan terms range from three months up to 10 years.

  • Absa contact details:

Website- www.absa.co.za
Phone- 0860 040 302 / 0861 00 11 55

Standard Bank

Standard Bank is one of the best online small business lenders due to the wide variety of loans they offer.

They have fixed term and fixed repayments business loans, vehicle and asset financing, commercial property financing, and specialised financing.

Standard Bank can provide you with instant capital that you can immediately access through your Business Current Account.

Repayments can be based on your cash flow for easier loan management.

  • Loanable amount

The minimum loan amount is R50 000.

  • Terms

The repayment period ranges from 12 months to 10 years.

  • Standard bank contact details:

Website- www.standardbank.co.za
Phone- 0860 109 075
Email- [email protected]


Lulalend is an alternative lender that provides business funding to small and medium-sized enterprises.

Their products include bridging finance, credit facility, equipment finance, inventory finance, and debt refinancing.

To apply, simply fill out the application form online and submit the required documents. Their approval process is one of the fastest in South Africa because they can send the funds to your bank account within 24 hours.

  • Loanable amount

Loanable amounts range from R20 000 to R1,5 million, depending on your financial performance.

  • Terms

Repayment terms range from 6 to 12 months.

  • Lulalend contact details:

Website- www.lulalend.co.za
Phone- 087 943 2381
Email- [email protected]


Fundrr is tailored to help small businesses by providing quick access to additional funding that will usually take weeks for traditional methods to process.

Fundrr uses automated models to quickly assess small business loan applications. You can expect to receive funding within 24 hours once you get approved.

  • Loanable amount

You can borrow amounts ranging from R20 000 to R500 000.

  • Terms

Repayment duration ranges from 3 to 12 months. Repayments can be scheduled on a daily, weekly, bi-monthly, or monthly basis, depending on your preference.

  • Fundrr contact details:

Website- www.fundrr.co.za
Phone- 079 217 5059
Email- [email protected]

Reminders for Small Business Owners

You should think carefully before borrowing money for your business. Consider your cash flow and the market environment to ensure your revenues can cover the operational expenses and the loan repayments.

Borrow money from your friends and family first, since they won’t probably charge high-interest rates that banks and alternative lenders do. Approach banks as a last resort and only seek the best online small business lenders in South African to ensure you’re covered legally, and you get fair rates on your loan.

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