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VodaLend works to close the funding gap for women-owned businesses

Article provided by Vodacom

VodaLend, an innovative business funding platform from Vodacom Financial Services, is sending a message to all South African women entrepreneurs, “We’d like to help solve your unique funding challenges by offering you simple and accessible finance to small and medium-sized businesses.”

Vodacom Financial Services CEO, Mariam Cassim, says, “We are very passionate about supporting female entrepreneurs, especially during the current trying times. Local studies show that funding for small businesses owned by women lags far behind funding for their male counterparts.  This is a trend that the VodaLend team is determined to reverse in the interests of developing small businesses in the country.”

According to a recent article by SME South Africa’s Breaking the Glass Ceiling’ Series, “Female entrepreneurs have limited access to finance in comparison to their male counterparts.  It is estimated that the unmet yearly financial needs for women-owned businesses worldwide is estimated to be between $260bn and $320bn.”

Cassim continues, “We know that South African women are rising to the challenge of creating their own wealth, starting and running their own businesses and contributing to the development of their communities in the process.  But a recent study shows that South African women are still in the minority in terms of the entrepreneurial landscape. While more than 50% of the country’s population is female, they account for less than a third of the nation’s entrepreneurs.”

Vodalend wishes to change the narrative around this global and local trend by partnering and supporting woman owned businesses. 

A disruptive SME business-funding solution

VodaLend’s model is simple. Specifically designed to offer a disruptive SME business-funding product, applicants apply online and have a response within four hours.  There are no hidden fees, no paperwork and no branch visits. VodaLend does not need details of how the finance will be used and the model has none of the delays and uncertainties inherent in obtaining a loan from a traditional lender such as a bank. 

VodaLend is in the business of empowering SME’s through simple and easy financing, a process that is critical for the economic development of South Africa and the creation of jobs. As we celebrate woman during the month of August, and in keeping with the Vodalend strategy, ,   we are using the platform to reiterate and reinforce our support to f existing and potential female entrepreneurs out there.  We are behind you, every step of the way.

Simplified business solutions in a complex environment

Cassim explains, “We‘ve found that business owners need help with the complex financial environment in which they operate. They need assistance with finding, insurance, payments and business automation. The under-serviced small business market is full of untapped potential and allows innovative funders, who are able to tailor business-specific solutions, to help these companies reach their full potential.”

More than just funding

Businesses that secure funding with VodaLend qualify for a R2,000 eziADS Voucher. This voucher is a digital and mobile advertising bundle on the Vodacom Digital Advertising portal.  The bundle includes text and display advert types across various Vodacom platforms.

This service has been extremely effective for example when used with another SME a Please Call Me SMS campaign delivered more than 4.5-million impressions and a display ad featured on Vodacom’s platforms AppWorld, MyMuze got close to 250 click-throughs.

So, if your business is in need of an urgent cash injection, put VodaLend to the test today.

Vodacom is a proud Partner of the NSBC