Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • South Africa
Banks:
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.
Sectors:
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: 2018-04-09
SPARTAN SME FINANCE PTY LTD
FMO-51841

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

 

ACCOUNTABILITY MECHANISM OF FMO

Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism.

Bank Documents