Absa SMME Fund

Absa SMME Fund

Absa SMME Fund

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Absa SMME Fund provides R3 million with a maximum loan term of five years credit to  business start ups and existing businesses! Apply Now!

Are you an SMME that’s been awarded a government contract or tender?

You could be eligible for Absa’s SMME Fund if you have the needed entrepreneurial skills and can repay the loan.

Absa SMME Fund


Does your Small to Medium Micro Enterprise require Funding? The let ABSA assist you. Apply NOW

The Absa SMME Fund could be the right choice if:

  • you are a previously disadvantaged individual and your business is 100% black owned
  • your business is a Small, Medium or Micro-sized Enterprise (SMME) as defined by the Department of Trade and Industry (DTI) – includes new start-ups and existing businesses; subject to credit approval
  • your SMME does not meet the criteria for normal lending and therefore you do not have access to normal banking channels
  • you are a South African citizen permanently residing in South Africa
  • as the loan applicant, you are fully involved in the day-to-day operation of the business
  • you have the skills and/or expertise relevant to your business and/or the industry or sector
  • you have a well-researched business plan or business profile
  • your business can show profitability through historical financials or a realistic cash flow forecast
  • the business’ main transactional account is held with Absa, no split banking is allowed
  • you need a loan of between R5 000 and R3 million with a maximum loan term of five years
  • your preferred loan term is no more than 3 years
  • the economic benefit realised through the finance application resides in the province where your SMME resides

Excluded from the Absa Development Credit Fund:

  • non-South African citizens
  • money raising ventures
  • enrichment
  • all trusts, public companies, section 21 companies and co-ops
  • mining and oil exploration
  • residential and commercial property finance
  • no split banking is allowed
  • SMEs may not have other business interests.

Supporting Documentation

  1. Fully completed application for contract funding (ABSA 3449)
  2. Minimum 12-month cash-flow projections (ABSA 2376)
  3. Copy of Contract/Order Document (Approved)
  4. Quotations on all equipments and items to be purchased
  5. 6 Months bank statements (personal and business)
  6. Historical financial information
  7. Income and expenditure of all members/directors/owners of the business (ABSA 3684)
  8. Statement of assets and liabilities of all members/directors/owners of the business (ABSA 1752)
  9. Detailed CV with employment record of all members/directors/owners of the business
  10. Business profile
  11. Detailed Business Plan
  12. Business registration document (if applicable)
  13. Copy of lease agreement (if applicable)
  14. FICA verification documentation (personal and business)
  15. Copy of original bid specification documents
  16. Copy of identity documents of applicant(s)


Contact us on 0860 040 302  OR
Visit your nearest Absa branch, Complete the application form and bring it to along with the supporting documentation.

Absa SMME Fund the right choice for all SMMEs

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