Proudly South African and passionate about how she can support our country, Meagan has had many opportunities to leave our shores, but can’t see herself anywhere else. “Where in the world can you make such an impact as you can in South Africa?” she asks the show’s host, Mark Sham.
“I use my SME lending umbrella as my tool to grow and support SMEs, who in turn will support and grow our country.”
Supporting SMEs from year one
This week’s episode is a bit different to the usual Small Business Showcase because unlike regular guests, Meagan isn’t an entrepreneur the traditional sense – but she is an SME activist.
Sasfin is continuously looking for new products, new engagement models, and new ways to support businesses in South Africa, and in many ways, Meagan’s passion is spearheading this key focus area.
With unemployment numbers continuing to climb in South Africa, entrepreneurship is becoming more important than ever.
“Most banks tightened credit opportunities in the wake of the pandemic,” says Meagan. “We looked at it as an opportunity to really help SMEs to not only weather the storm but become the backbone of our economy.”
To achieve this, Sasfin partnered with FMO, the Dutch Entrepreneurial Development Bank, to obtain a R390 million funding line, as well as a R600 million portfolio guarantee facility (NASIRA) that would allow for the relaxation of credit policies towards SMEs.
“We’re working hard within the SME lending space to build and streamline products and tools that nurture businesses throughout their growth journeys. What finance do you need when you’ve been operating for one year? What tools do you need to apply for credit? How do you manage your business and get everything together that you need to prove the financial state of your business? These are the questions we are focusing on and what we’re most excited about – how can we help to build a vibrant and growing small business landscape in South Africa?”
Watch the full video to meet Meagan and to learn more about how Sasfin is supporting SMEs across their full growth journey.