FNB not helpful with business credit solutions

We hereby notify you of our intention and request for our current business account, 628*****366 to be closed and removed from your records as of 16th September 2022. The above date is requested in order to allow all monies already invoiced to clients to be cleared from the FNB account before closure. The main reason for wanting to close off the account is because we reasonably feel that in all the cases where we have requested for financial assistance from you, we have always been met with a negative outcome (decline). And in all cases, the reason behind a declined outcome will be due to the miniature and account conduct instances. In other words, it’s never due to the financial or credit worthiness of our company looked at objectively. We have been banking with FNB for quite well and we believe that we have done pretty well so far when it comes to a significant number of deposits going into the account, but obviously because we are still an SMME, and there will be those days where we will sit with a negative balance for about a day or two – but to have FNB use that as a reason to decline a simple application for an overdraft not exceeding R50 000.00 – still puzzles us. Hence we saw the choice of moving our banking from FNB and look somewhere else. We are a tenderpreneur company and our cash flow relies heavily on government clients and we have been so lucky to have clients who pay us well on time, and even way before time. In more cases than one, we find ourselves looking for just enough funds to carry out an simple and urgent order and with repayment term as soon as 15 days but FNB would not even entertain that request. Hence we end up having to go to these loanshark lookalike companies that charges us an arm and a leg for just a tiny amount only for a few days before the client pays. All we are looking for to find our feet is to have access to a bank’s overdraft facility that can enable us to avoid going to a loan shark or so-called purchase order funders who’ll have a thousand requirements and a lengthy documents requirement that will end up taking years to get an outcome and make us look *********** and unprofessional to a client. Why can’t FNB give us that, is our question.

Regards, THOBEKA