Spartan SME Finance secures R100m from SA SME Fund for R600m – Ventureburn

SA small business financier Spartan SME Finance has secured a R100-million investment from The SA SME Fund to anchor its R600-million debt financing fund, with half of the investment or R50-million, to be channelled to black African owned businesses.

The funding will be immediately available to Spartan SME Finance to boost its lending to SMEs. The debt fund is expected to finance at least 100 small and medium sized enterprises every year.

Earlier this month the SA SME Fund announced that it had committed R110-million to Cape Town based hardware tech incubator Savant, with 50% of this amount earmarked for black African owned firms (see this story).

Spartan SME Finance has secured a R100-million investment from The SA SME Fund to anchor its R600-million debt financing fund

Spartan SME Finance CEO Kumaran Padayachee (