FNB declined a business loan application due to a low turn over on my business account. Firstly it would have been appreciated if my bank had the decency to let me know what the terms where by means of a phone call and not an sms As i would have liked to have been given the chance to meet with a consultant and at least present my business plan. secondly its a new business and am not sure how else to get my turnover up other than asking my clients for a deposit upfront before commencing with work so that i can buy the stock from the deposit, which most clients are not comfortable with. So it is safe to assume that you need to show fnb that you do not need them in order to secure a start up loan from them. I will be going into my branch tomorrow morning to close my accounts with FNB as i do not want them to be a part of my business when i make it a success on my own. Having a BEE certificate means nothing to me anymore, as i will always be disadvantaged in the eyes of any financial institute in south africa.
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