Quick Facts

Where the impacts of the investment may be experienced.
  • South Africa
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • Netherlands Development Finance Company (FMO)
Status: Active
Bank Risk Rating: C
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Board Decision Date: 2017-06-19
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower or Client: Spartan Technology Rentals (Spartan)
The holder of the loan, grant, or other investment.
The service or industry focus of the investment. A project can have several sectors.
  • Finance
Investment Amount (USD): $ 3.50 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.

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Primary Source

Original disclosure @ FMO website
Updated in EWS: 2017-09-16

Project Description
Spartan Technology Rentals (Spartan) is a South African financial services provider, established in 1981. The institution is fully specialised in asset backed lending to small and mid-sized businesses (SMEs) with a focus on technology assets including machinery, specialized equipment, software finance and working capital finance. Fmo is providing a 5-year ZAR equivalent senior loan of USD 3.5 mln to Spartan to support their recent strategic change towards full SME dedication with a focus on specialised SME finance. FMO's key rationale for the investment is to support and increase access to finance for SMEs in South Africa. Almost all of Spartana€™s targeted SMEs have limited access to credit from traditional banks which lack specialized knowledge and perceive these SMEs as high risk. Instead, these SMEs are forced to use short-term working capital or overdrafts to finance their acquisition of technology and other specialised equipment. This creates a cash flow mismatch and inhibits their growth activities.
Investment Description
Contact Information
+27 11 507 2500 joburg-office@fmo.nl Regent Place, 2nd Floor Cradock Ave, Rosebank 2196 Johannesburg South Africa
Bank Documents