Blue's Small Business Division has so far granted loans worth R134.1 million and expanded in seven countries since it's inception 18 months ago.
The division, which grants loans of between R15 000 and R3 million, has awarded 1, 784 loans, 96% of them to existing small and medium enterprises, and the remainder to new business.
The Small Business Division is currently operating in South Africa, Nigeria, Swaziland, Lesotho, Botswana, Malawi and Namibia. “The two largest loan books we have are in South Africa and Nigeria,” said the division's general manager Kenneth Fisher.
Training
Blue has adopted a holistic approach when offering loans and incorporated 87 SMME training programmes that have so far benefited 484 entrepreneurs. “Blue has managed to create and maintain 8 920 jobs since the division's inception. The spin-off effect in the various economies, collectively - at a factor of five, has impacted
about 44 600 people," said Fisher.
In addition the division provides aftercare and mentorship services by making use of Business Partners.
There are four existing training programmes namely the Simply Successful Small Business Course, which teaches people how to run a small business; the Business Plan Guidelines Workshop, the Simply Successful Selling Course, and the micro-MBA course aimed primarily at the semi-formal and informal sectors.
Creating a business plan
The division plans to launch a "Business Plan Creator" to enable people to access the product as well as 'tool kits' and check lists for various facets of a business. The programmes have also been converted into 'virtual books' which can be accessed on Blue's website at a small cost.
"We have also produced a DVD that allows an individual to watch the programme as presented, read the virtual book, hand in the test and receive a certificate if all
requirements have been met. This is one of the loan conditions,” said Fisher.
The micro financier uses loan officers to offer aftercare services, while a mentor is appointed to coach beneficiaries of loans over R250 000.
Another factor that keeps Blue as the industry leader in Small Business Development is psychometric testing, which helps the company assess potential clients and establish possible risks. "In the 18 months the division has been operational there have been no bad debts and the arrears are low and within benchmark limits," said Fisher.
For more information about Blue's Small Business Division, or how you can take advantage of the company's rapid growth, please contact:
Kenneth Fisher
Email: kenneths@blue.co.za
Tel: +27 12 990 8400
www.blue.co.za
