DL
Damon L

1 reviews | Active since Jul 2011

23 Mar 2015, 17:25

Nedbank Hurting Small Business

As a small business that has banked with Nedbank both in my personal and business capacity I have been extremely disappointed by their behaviour towards small business. As a small business operating for 4 years with major blue chip clients, we app**** for a business overdraft in order to better manage our cash flow due to the fact we have to fund our projects upfront most of the time and with an increase in business comes an increase in funding these projects upfront. Our application was submitted three weeks ago, we submitted the application forms, income statements and even client PO's with signed project contracts yet Credit keeps on coming back for additional information and they can't tell me if the application is going to be approved or not. Finally today they requested additional information yet again based on our financials and that if we don't provide it then they can't approve our application. As a small business we are in desperate need for the overdraft facility as we are starting new projects beginning of April and now we are unable to fund them, I feel that Nedbank have dropped us as a small business at the last minute with now nowhere to at such short notice.

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Replies (1)
Nedbank
Nedbank's reply24 Mar 2015, 08:04
Official
Hello damonl,

Thank you for raising your concerns with us. We are looking into your complaint and appreciate your patience in this regard.

Kind regards

Client Experience Team