Access to finance is the number one challenge experienced by SMEs - Finfind has been specifically developed to address this problem.
Finfind is an innovative, online access to finance solution that brings together the providers and seekers of SME finance with a focus on finance readiness.
Finfind aggregates all the public and private sector SME finance offerings into one simple platform and provides an automated matchmaking facility between the lender and the seeker.
Finfind has over 200 lenders and over 350 loan products available to SMEs and each lender's listing and their loan product information is kept up to date on a daily basis.
Finfind's primary objective is to link SMEs who are seeking finance with appropriate lenders.
To do this the SME simply enters their company information and loan requirements into an easy step-by-step form. Finfind uses this information to link the SME with all the matching loan offerings.
The Finfind lender database includes many different types of SME finance, including: Startup Finance • Expansion Finance • Equity Finance • Cash Flow Bridging Finance • Debt Finance • Contract Finance • Asset Finance • Franchise Finance • Invoice Discounting • Supplier Finance • Import and Export Finance • Finance to Buy Out a Partner • Property Finance • Finance to Buy a Business • Emergency Finance • Government Grants
Besides linking SMEs with lenders for funding, Finfind also provides helpful finance education information, deals with frequently asked questions and addresses common challenges experienced by SMEs seeking finance - this is found in the LEARN ABOUT FINANCE section.
It also offers assistance to help ready you to access finance by linking you with accountants and business advisers who are equipped to help you generate business plans, budgets, forecasts, financial statements and any other documents that lenders need to provide finance - this is found in the GET ASSISTANCE section.
1. A lack of finance literacy - not understanding finance terminology.
2. A lack of knowledge about who the lenders are, how to access them and what lenders require from them.
3. A lack of knowledge about the different types of loan products and which one/s are appropriate for their lending needs.
4. Most importantly, a lack of finance readiness.
The challenge lenders face is receiving large volumes of loan enquiries and applications that don't meet their loan product criteria or are not ready to be processed. Lenders are looking for a pipeline of quality SME loan leads that are finance ready and that match their lending criteria.
Finfind is the innovative solution that was developed to address both the SME and the lenders challenges.
At the conclusion of its research programme, USAID transferred ownership of the project to a local fintech business, called TDH, via a competitive bid. TDH subsequently registered Finfind (Pty) Ltd in February 2015 and raised venture capital to build a great team, develop a world-class product and to launch and market Finfind, starting in South Africa.
The Department of Small Business Development identified Finfind as a vital solution to address the challenges experienced by providers and seekers of SME finance in South Africa.
Finfind was launched in South Africa by the Minister of Small Business Development in October 2015.
Finfind provides its services free of charge to businesses seeking finance. Our primary purpose is to link SMEs with all the relevant finance providers and finance products that match their funding needs. As a matching service we are not required to be a registered finance provider as we do not loan money directly.