Manzini – More than 1 500 small and medium enterprises (SMEs) have benefited from FNB Eswatini’s Automated Scored Lending facility, which now allows businesses to access up to E1.5 million through a simplified funding process.
The facility was presented to SME owners during FNB Eswatini’s SME Growth Forum held at The George Hotel in Manzini on Monday, where entrepreneurs shared their experiences with the bank’s solutions.
FNB Eswatini SME Lead Nombuso Mndzebele said the lending facility had changed the way SMEs access finance by reducing paperwork and allowing quicker processing of applications.
“Many of you have already experienced some of the ways we are changing how we support SMEs. Our Automated Scored Lending solution has enabled us to approve funding faster and with far less paperwork than before,” Mndzebele said.
She said since the facility was introduced in 2023, the bank had increased the lending limit from E250 000 to E1.5 million.
Matsapha entrepreneur and owner of Zambie Mobile, Zambie Dube, said the facility assisted him to acquire a vehicle for his business.
“FNB helped me buy a vehicle through the Scored Lending solution and I am very grateful. I look forward to using the facility to expand my operations,” Dube said.
Another Matsapha-based entrepreneur, Melusi Dlamini, praised FNB’s Business Toolkit, saying it helped businesses keep proper financial records and monitor income and expenses.
The toolkit provides SMEs with business plan templates, cash flow forecasting tools and financial calculators to assist entrepreneurs with business management.
FNB Eswatini CEO Thokozani ‘TK’ Dlamini said the bank was considering concerns raised by entrepreneurs, including requests for more flexible lending options and improved Speedpoint devices.
The SME Growth Forum was held in partnership with the Small Enterprises Development Company (SEDCO) and Eswatini Revenue Service (ERS).
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