DROWNING

It is well established that SMME, are catalyst to achieving economic growth and development of our country. Challenges faced by SMME is the inaccessibility of bank finances. It is well established should a contractor defualt on a government tender, they will be blacklisted for up to 10 years. I app**** as an SMME for finance in August though our business banker. The cashflow projections was based on a government contract that we currently have and seek assistance on, as advised by our banker. We have been surviving by family and friends' loans but that has become unsustainable, we fear defaulting on our contract. The problem we have is that, the credit department is of the view that I the only member will use the funds to pay for my personal homeloan deposit, attorney fees. I have paid this by using my personal overdraft and credit card and also my wife's contribution. The other issue is the fact that the fact that the cashflow projection show a member's drawing of R 10 0000, which is based only on the contract we require funding on. The last issue was an incorrect default listing on credit bureau. I forwarded a copy of my credit profile from Transunion obtained on 3 October 2017 to my banker. The credit profile showed that i have no default listed under my name. "Mistakes can be made. In fact, of the credit reports issued to consumers during Q4 2015, over 17% were challenged for alleged inaccuracies. Of these, nearly two-thirds were resolved in favour of the consumer,” Salem Dyafta, Brand Manager: Consumer at TransUnion said." The frustrating part is the fact that i am not given an option to request for a review of the conclusion of the credit department. The second part is I have not had an opportunity to meet my banker since the decision not to grant me credit. This mainly because the banker is either on training or writing exams. What we seek is for a review of our application as we had forwarded our banker with my credit profile on 04 and 05 October 2017. We also explained with regards to issues raised regarding my homeloan.