Maxtec provides partners with a seamless credit solution

The next evolution of payments model, Buy Now Pay Later (BNPL) is growing in South Africa and closing the gap for many Cyber Security SMEs who are struggling to get access to much-needed funds.

Over recent years, especially during the onset of the pandemic, banks experienced a massive influx of time-critical loan applications from SMEs. However, the pace of loan approvals from the traditional bank and the red tape involved in acquiring a loan has meant that far fewer SMEs are able to receive the assistance they require within the set time.

The offering, which is designed specifically for small and medium enterprises will give businesses easy access to working capital, which can mean the difference between a good trading month and a bad one. In the current times, it can also be the lifeline a business desperately needs to continue to operate despite the difficulties it experiences.

Maxtec’s payment solution offers peace of mind for its partners, who can immediately access trade credit when they need it the most. It works on a flexible payment option enabling them to choose up to 6 months to settle invoices. Therefore, they are able to pay only ¹⁄₆^th of the invoice price plus costs on a monthly basis.

From a costing perspective, the earlier they settle the fewer fees involved. The first month’s costs are completely free, thereafter, only 2% is charged per month. They can settle early at any time in order to avoid all future costs.

The solution surpasses the traditional banks – whose processes include filling huge amounts of paperwork and waiting long periods for approval. Maxtec’s paperless online application process takes only minutes.

Maxtec’s partners get easy access to credit when it is needed the most and bypass the process of reapplying for new business finance each time they need a loan.

The solution boasts sophisticated technology, used to evaluate the real-time performance of an SME to get the best possible funding, providing a decision very quickly.

Some of the other benefits partners can enjoy, include the following:

• Up to 6 months to pay
• Current credit terms from Maxtec + 30 days Interest Free
• Access to extended credit terms
• Simple Sign-up process; without the unnecessary paperwork
• Quick access to finance to secure deals

Maxtec is addressing a critical pain point for its partners and is contributing towards building the local SMB IT Security Sector, which is advancing at an accelerated level. The solution is available for all Maxtec offerings including hardware, software and managed services, subject to approval.

To get access to the platform – > Find out more here