BZ
Buntu Z

1 reviews | Active since May 2018

20 Nov 2019, 10:31

Most horrifying and stressful experience from ABSA to secure a SME fundig for a contract

I'm a emerging black business who not fortunate to have a family with trust funds available to fund any contract i secure. I managed to secure a 1 month contract extended to 3 month with Alfred Nzo District Municipality to assess and upgrade their UPS system on the 26 September when i received and signed the appointment letter. After assessing the work required and material to be procured to complete the job, I approached my Fetola Mentor to assist me with finding a funding institution. I was referred to ABSA; apparently they have a dedicated product for SMEs requiring funding for a contract. 14 Oct 2019 I forwarded all required documents including the contract to a ABSA representative; 16 Oct 2019 i was referred to ABSA Or tambo region to complete an application form; the banker also checked my credit profile. 08 November i was advised my application is with credit support; 13 Nov 2019a response came back that i need to submit supporting docs for my property and account where i payoff my property and a letter indicating that invoice payment will b paid to ABSA account which i did. Now it is 20 Nov 2019 and ABSA is quiet. This is a game changing contract for me; i have provided all required documents in time; i have made constant follow-ups and what is painful is ABSA isn't realizing that the dreams they say they make them come true is the dreqm they currently destroying now. I have the contract; i have a healthy financial profile; my ict credit profile is good; i have showed i have the qualifications to do the contract; what more does ABSA want. So this is the most stressful and horrific experience i ever had with ABSA. Funny their website promise a fast quick process to assist SMEs and im experiencing the opposite.

0
Replies (3)
Absa
Absa's reply20 Nov 2019, 10:51
Official
Dear Buntu,
 
Thank you for bringing this unfortunate matter to my attention and please accept my sincere apology for inconvenience caused. I will be in touch within the next hour to provide you with my specific contact details as well as your unique complaint reference number together with a request for additional information.  
 
Kind regards,
 Basani Hlungwane
 Group Customer Care
 Absa Bank Ltd

BZ
Buntu Z's update27 Nov 2019, 20:55
Reviewer Update
Dear Basani

I'm happy with the swift response from the group customer care, your encounter with me was 5/5. OR Tambo regional branch deserve an award of best customer satisfactory region because they took my application close to heart; i request my appreciation be forwarded to that team.

My application was approved on Tuesday, 26-Nov-2019. I opened new business account with ABSA and going forward our encounter should be efficient and effective with minimum disappointment.

Regards
Buntu Zengetwa
Bzeng Group


Absa
Absa's reply28 Nov 2019, 13:37
Official
You are most welcome!