The Ithala Development Finance Corporation manages fully-integrated business activities that provide a range of financial and property services throughout KwaZulu-Natal.
The mission of the Ithala Development Finance Corporation Limited is to drive economic development and empowerment, whilst remaining financially sustainable. The nature of their business includes: business finance, industrial and commercial property development and management, retail banking services, home loan products, and insurance services.
The Ithala Development Finance Corporation
The Corporation’s strategic objectives are to mobilise financial resources and provide financial and supportive services; plan, execute, finance and monitor the implementation of development projects and programmes; promote, assist and encourage the development of human resources and social, economic, financial and physical infrastructure; promote, encourage and facilitate private sector investment and the participation of private sector and community organisations in development projects and programmes, and in contributing to economic growth and development; and act as the government’s agent for performing any development-related tasks and responsibilities that the government considers may be more efficiently or effectively performed by a corporate entity.
Ithala Development Finance Corporation specialises in the management of synchronised business activities which provide a set of finance and property services within the KwaZulu-Natal Province of South Africa. Three strategic business units (SBUs) are responsible for the major activities of the Corporation in the field of development.
Saving and investment solutions
The Corporation provides financial services which include business and micro finance and insurance and property services. Businesses can take advantage of development and commercial loans and finance, strategy, IT, marketing, audit and risk assurance services. Individuals can find saving and investment solutions and home loans. Ithala offers property development and management services to business and individuals.
Every financial solution is designed to meet the needs of the specific business precisely. You can expect maximum flexibility and perfect affordability with our business finance. Ithala has an expert team of experienced professionals who provide assistance with all aspects of business management and growth from finance and development to strategic planning, marketing, information technology and assurance.
Business Units of The Ithala Development Finance Corporation
The Corporation’s core developmental activities are carried out by three Strategic Business Units (SBUs), namely:
- Business Finance;
- Micro Finance; and
- Property Development; and
- Property Asset Management.
- Savings and Investments;
- Home Loan Finance;
- Home Improvement Loan Finance;
- Development Loan Finance; and
- Commercial Loan Finance.
Other Strategic Business Units
- Corporate Services;
- Group Strategy;
- Information Technology;
- Marketing; and
- Group Audit and Risk Assurance Service.
Providing financing to individuals and businesses
Ithala is a corporation providing financing to individuals and businesses in the KwaZulu-Natal Province of South Africa. It caters primarily to small and micro businesses that are unable to access the commercial loan facilities available from traditional banks. You should definitely consider the Ithala business loans if you are just starting out and you do not have many valuable assets and a lot of cash. You have very high chances of getting finance.
Just keep in mind that the loans are subject to lending criteria just like all of their counterparts offered by commercial lenders. In order to qualify for finance, a company must meet a set of general criteria like job creation, use of modern technologies and working with raw materials produced in South Africa. Basically, the company has to support the local economy via its activities. At the same time, there are no precise requirements for financial performance or collateral with our business financing.
There are no fixed minimum and maximum amounts with the Ithala business loans. Still, since the loans are for small and micro businesses you should not expect them to offer millions of rands. The loan amounts always correspond to the size of the company. Another thing to note is that Ithala may not be able to offer 100% finance for business ventures, projects and other initiatives. This can be somewhat of a drawback especially if you do not have access to any finance available from other lenders.
The interest rates are based on the prime lending rate. They are quite competitive especially to what the major banks have to offer. The fees are affordable as well. If you want an affordable loan, this is the lender to work with. This review concludes that the Ithala business loans are an excellent choice for small businesses that are active in their communities. They are easily accessible and affordable.
Contact us for more information on funding through the Ithala Development Finance Corporation.