Business solar financing
Loans for businesses buying solar electricity systems, with grid-connected and battery-storage options and repayment over up to 60 months.
Tato příležitost je nyní dostupná v angličtině.
Finance a solar photovoltaic (PV) system that generates electricity for your business. Systems start at R10,000. You can choose solar connected to the utility grid, solar with both a grid connection and battery storage, or solar with batteries and no utility connection. The minimum loan is R10,000.
Standard Bank lends the money through a Business Term Loan. You repay the borrowed amount and interest over up to 60 months. The bank advertises a personalised interest rate linked to the prime lending rate plus 2.5 percentage points and fixed monthly repayments. It lists a once-off initiation fee of 1.26% of your approved limit and a R69 monthly service fee. Product-specific or individually agreed fees take precedence over the general pricing guide.
The bank may require security for the debt, for example by asking you to hand over rights to money held in one or more of your bank products to ensure repayment. Closing a term loan within three years of opening it is subject to early repayment penalties. If you miss a payment, the bank may use money in your other accounts to settle the debt where the law permits, after notifying you; it may hold that amount while discussing the matter. If you do not correct a default after notice, it may take legal recovery steps and charge collection and reasonable legal costs allowed by law. Tell the bank immediately in writing if a change in your finances could put repayment at risk.
Eligibility
- This is a business lending route in South Africa. If you are new to Standard Bank, you need at least two years of trading history. For these new customers, funds are paid only into their Business Current Account and repayments are collected from that account by debit order.
- Approval depends on the bank’s credit and compliance checks. You must provide financial information when requested so it can assess your ability to repay.
- You must supply accurate information, comply with applicable laws, have authority to enter the agreement and not be in default under another agreement. Maintain required business licences, approvals, permits and insurance. You must not be subject to sanctions recognised by the bank, appear on a sanctions list or be under investigation for sanctions-related activities; notify the bank immediately in writing if that changes.
- You must not use the loan or your bank accounts to finance or benefit a person or organisation subject to sanctions recognised by the bank. You must not use the money in a sanctioned country or pass it to someone who intends to finance such a person or organisation.
- Provide the bank’s requested up-to-date information and documents for its customer identification and financial-crime checks. It may refuse the application or suspend or close an existing product if you do not provide them.
How to apply
- Stav
- Průběžně otevřené
- Podmínky daného kola žádostí
- Subject to credit and compliance approval.[^c2]
- New customers enter through the Business Term Loan route; existing customers can request a callback or contact their Relationship Manager.[^c7]
Existing business clients can contact their Relationship Manager or select “Call me back” on the application page. New customers should use the Business Term Loan route shown on that same page; that route advertises borrowing up to R750,000 and asks for six months of bank statements and two years of trading history. Submit your details for a bank consultant to contact you about the application.
Have identification documents for owners and signatories, proof of address no older than three months, and company registration documents if your business is a registered company ready for the consultant.