SMES’ E1M LOANS TO MEET PURCHASE ORDERS

 MBABANE – Businesses in serious need of fast cash to supply issued orders have been thrown a lifeline. To support the growth and development of micro and small business owners in eSwatini, Letshego now offers purchase order financing solutions, up to the value of E1 million.

Micro and small business owners who have secured a purchase order from a reputable institution can now apply for a Letshego Purchase Order Loan to bridge the gap in managing their cash flow.

Mongi Dlamini, Letshego’s Eswatini Chief Executive Officer, commented; “Micro and small business owners are an increasingly valued sector of the economy, given their potential to reduce poverty and alleviate increasing unemployment levels.” 

Dlamini pointed out that cash flow remains the single biggest challenge for small business owners, and often the reason that small businesses fail. 
He said Letshego’s purchase order finance enables micro and small business owners to deliver on their commitment to clients, without suffering cash flow challenges between delivering an agreed service or product, and waiting for payment.

Struggle

The CEO said many micro and small business owners struggled to access traditional financing solutions. 
Through its inclusive finance strategy, Letshego Eswatini helps more entrepreneurs generate an income and build a sustainable business.
Mongi added, “Aligned with our 11-country footprint across Africa, Letshego is committed to increasing access to simple and appropriate financial solutions for emerging consumers. 

“Our ultimate objective is to increase the number of individuals making a positive contribution to our economy.”
The Letshego Purchase Order Finance Solution offers micro and small businesses a loan facility from E20 000 and up to a maximum of E1 million.

Available

The purchase order finance solution is available to Eswatini micro and small business owners or individuals who have a purchase order to fulfil, but struggle to meet the cash flow requirements between delivery and final payment.
Letshego disburses purchase order funding directly to the business owner’s suppliers, ensuring that funds are directed seamlessly to meet delivery demands.

Dlamini said not only is Letshego Eswatini funding new orders, but they were also offering to fund those qualifying micro and small business owners who have a history of unpaid invoices. 

Supporting

He mentioned that this was in line with Letshego’s commitment to supporting business continuity and enabling up and coming entrepreneurs to seize future business opportunity.

Letshego has operated in the Kingdom of Eswatini since 2006 and continues to explore opportunities to deliver simple and appropriate solutions to its customers.

Letshego Eswatini has three branches in the kingdom - Manzini, Mbabane and Nhlangano - with access to solutions extended via the inclusive finance provider’s direct sales agent network.

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