BrownSense is excited to announce its partnership with UsPlus, a developmental finance organisation, which is specially designed to cater for local black owned businesses. They operate as a fintech business focusing on the provision of flexible working capital solutions to local SMMEs.
It is within BrownSense’s interest and commitment to create and build an enabling environment and creating access to market for opportunities to Black owned businesses. As a clear endorsement of the partnership, UsPlus has invited BrownSense to provide a platform for black owned businesses to have access to funding that they, UsPlus, provide for the local SMMEs.
UsPlus offers services of tailor made invoice discounting/ factoring solutions which gives a growing business access to money that is tied up in their debtors’ books. As a result, enabling money to be available to the business when it needs it, as it grows, thus allowing business owners to take advantage of pressing growth opportunities. They provide services to 43 different business industries, such as agriculture, logistics, media & film production, etc, but there are certain sectors that are not eligible as they are excluded by the International Finance Corporation (IFC).
The aim and mission of UsPlus is to help the local economy grow by assisting vital SMME sectors. This is done so through proactive engagement with their clients, and aim to facilitate:
- the re-industrialisation of the economy,
- the promotion of import substitution,
- manufacturing of recycled materials,
- scientific and environmental research,
- the expansion of South Africa’s Space capabilities,
- the provision of affordable healthcare to township communities, and
- environmentally sustainable food production.
A list of products and services that UsPlus do not cater as per International Finance Corporation (IFC) regulation:
- Production of trade in any product or activity deemed illegal under host country laws or regulations or international conventions and agreements.
- Production or trade in weapons and munitions.
- Production or trade of alcoholic beverages.
- Production or trade on tobacco.
- Trade in wildlife or wildlife products regulated under CITIES.
- Production or trade in radioactive materials.
- Production or trade in or use of unbounded asbestos fibres.
- Purchase of logging equipment for use in primary tropical moist forest.
- Production or trade in pharmaceuticals subject to international phase outs or bans.
- Drift net fishing in the marine environment using nets in excess of 2.5 kilometers in length.
Interested parties/ business owners may see below the relevant documents UsPlus would normally require to process an application for funding:
- up to date/recent CIPC & Tax Clearance Certificates;
- ID documents of the directors;
- Latest signed Annual Financial Statements;
- up to date Management Accounts;
- 3 months’ worth of business bank statements;
- Confirmation of active funding arrangements’ (if any);
- Copies of the associated facility letters/agreements (if any);
- Debtors & Creditors Age Analysis;
- A sample of recent invoices raised for payment by your clients;
- Copies of the associated service level agreements with the corresponding clients (above) together with any guarantees in place
To apply click on the following link: https://bit.ly/33Ndnht