FNB not assisting the small business owner

<p>Dear FNB..</p> <p> </p> <p>We requested a meeting with Ra****i Mapheto at FNB Woodlands, Pretoria (our Business Manager) to apply for a loan. We had the meeting and he requested us to send him our Cash Flow Projections which we did 23 August 2016.</p> <p> </p> <p>On the 24th Ra****i send feedback where he stated that he will get back to us later today.</p> <p> </p> <p>He only gave us feedback 1 September 2016 in which he stated we need to give collateral.</p> <p> </p> <p>We’ve tried to speak with him thereafter regarding his reply, however we could not get any form of feedback from him.</p> <p> </p> <p>I then addressed a mail to him, which I know also address to FNB where you state that “you offer business loans which can assist with capital to inject into a business for growth or expansion purposes”.</p> <p> </p> <p>A couple of requirements are needed:</p> <p>Need to be in business for 15 months or more. We’ve been in business for more than 24 months.<br />The FNB Business Account need to be in good standing, which it is.<br />We need to have an annual turnover in excess of R500,000-00. We have a turnover in excess of R1 million.<br /> </p> <p>We have met all the above requirements and therefore do not see why we cannot be assisted.</p> <p> </p> <p>Previous to our business opening I’ve given FNB an extensive Business Plan when we initially requested financial help to start-up the business. FNB gave us no help and said we first need to be in business more than 18 months before we can even qualify for a business loan.</p> <p> </p> <p>At that stage it was interesting considering FNB’s slogan “How can we help you” and all the stuff you state about being there for new entrepreneurs.</p> <p> </p> <p>Now years later you are still not assisting a business who banks with you. We push more than R1 million through our account annually and growing. We also use your card machine.</p> <p> </p> <p>Your Business Manager phoned us to say FNB will not assist in which I requested through email that he give us proper feedback in mail on 20 October 2016. To date he has not given any feedback.</p> <p> </p> <p>We are now forced into a position where we need to make a decision. Do we keep our business interests with FNB or move it to a bank that’s actually serious about supporting the entrepreneur and not just stating it in media campaigns.</p> <p> </p> <p>The question is easy, will FNB support our growth plans as discussed with Ra****i or should we move our business account to another provider where we can get the business support from a bank that we need.</p> <p> </p> <p>Standard Bank has confirmed in writing that if we move our business account over to them they will assist with our loan requirements.</p> <p> </p> <p>Your feedback will be much appreciated.</p>