Alternative finance

Quick facts

Alternative finance is a catch-all term for any type of business finance that does not come from a mainstream provider such as a high street bank.

Put simply, alternative finance describes any finance provided outside of the traditional banking system. Some people have a narrower definition that includes only the internet-based platforms on which borrowing and lending take place, usually between private individuals and businesses. We however prefer the broader definition.

Banks often have lending criteria that smaller businesses can’t meet, which is why businesses might look at non-bank options such as:

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Disclaimer: Swoop Finance helps South African firms access business finance, working directly with businesses and their trusted advisors. We are a credit broker and do not provide loans or other finance products ourselves. We can introduce you to a panel of lenders, equity funds and grant agencies. Whichever lender you choose we may receive commission from them (either a fixed fee of fixed % of the amount you receive) and different lenders pay different rates. For certain lenders, we do have influence over the interest rate, and this can impact the amount you pay under the agreement. All finance and quotes are subject to status and income. Applicants must be aged 18 and over and terms and conditions apply. Guarantees and Indemnities may be required. Swoop Finance can introduce applicants to a number of providers based on the applicants’ circumstances and creditworthiness. Swoop Finance (Pty) Ltd is registered with CIPC in South Africa (company number 2023/820661/07, registered address 21 Dreyer Street, Cape Town, South Africa, 7708).

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