Absa is a renowned financial services provider in South Africa. The global banking giant offers a range of retail, business, corporate and investment banking as well as wealth management products to mainly South Africa and Namibia. As a major institution, Absa is a trusted credit provider for asset finance, property finance, working capital, vehicle management, specialised funding, technology finance and term loans. Its term loans solutions have proven to be a key catalyst in fast-tracking economic growth and business development through its finance provision to entities operating in key sectors of the economy.
Absa’s flexible term loan options provide an excellent way of financing purchases, including other businesses. In addition to this, the loan has proven to be useful for the avoidance of cash flow uncertainties. Clients may also use these loans to finance expensive equipment and property purchases. This loan service has contributed significantly to the growth of agri-business, construction, logistics and supply chain, manufacturing, the public sector, retail and franchising.
Absa’s Term loan solution is specifically tailored to suit business needs of clients and businesses. Repayments are structured over a period of 12 to 60 months and clients are afforded the opportunity to choose bi-monthly, quarterly or annual instalments. Interest on medium to long term loans is linked to the prime lending rate, and calculated daily and capitalised monthly. In order to facilitate the easing of financial burdens on clients, advance payments are permitted. This essentially reduces overall interest paid.
For solutions supported by Absa’s philosophy of respect, integrity, service, excellence and stewardship, contact Absa on 011 350 4000.