FNB unlocks growth for South African SMEs with 480 000 pre-approved loans annually

FNB has strengthened its position as a key supporter of South Africa’s small business sector, with more than 480 000 SME loans pre-approved each year through its data-led credit strategy.

The bank’s move away from traditional credit scoring towards a more inclusive, cash flow-based model is opening new opportunities for entrepreneurs nationwide.

Sandile Phillip, Head of Sales for FNB Commercial Lending, said this evolution represents a major shift in how the bank approaches business finance.

“Our scored lending model has evolved significantly over the past decade. We have moved beyond relying solely on audited financials and now use real-time behavioural data to assess creditworthiness. By analysing cash flow patterns and transactional behaviour, we are able to generate personalised credit offers that are accessible via our digital platforms, often within minutes,” he said.

Through this data-driven approach, FNB now pre-approves credit for over 40 000 small and medium enterprises every month, representing almost half of its SME client base of more than 1.2 million businesses.

FNB’s pre-approved credit is available across three key products—overdrafts, business loans, and credit cards.

Entrepreneurs can apply for one or more of these through a single, streamlined process on the FNB App, Online Banking, or via their banker. Current data shows that 47 percent of SMEs apply for one product, 40 percent for two, and 13 percent for all three.

Phillip added that the bank’s lending innovation is driven by behavioural scoring across multiple products.

“Advanced behavioural scoring has complemented our existing lending offerings on both secured and unsecured products, making it easier for clients to get the right solutions to address their cash and resource needs for day-to-day operations,” he said.

One of the standout offerings is FNB’s Cash Advance solution, which uses point-of-sale data from Speedpoint, Speedee, SpeedeeQR, and SpeedeeApp devices to create instant pre-approved funding offers.

Once accepted, funds are released the same day, with repayments deducted automatically as a small percentage of daily card sales.

This model ensures that repayment terms align naturally with the business’s cash flow.

“This is not just about lending, it is about enabling growth,” Phillip added.

“We have invested heavily in technology, data science, and credit innovation to ensure that SMEs, regardless of size or formality, can access the capital they need to thrive.”

FNB’s approach extends beyond finance to building deeper relationships with entrepreneurs.

By engaging directly with business owners, the bank has developed a lending ecosystem that is faster, more inclusive, and better aligned with the real-world challenges faced by small enterprises.

“For us, it is about more than just funding businesses. It is about enabling futures, driving progress, and helping to build a more inclusive and resilient South African economy,” Phillip further said.

FNB continues to offer a range of long-term funding and working capital solutions, supporting businesses at every stage of their growth journey. Through its commitment to innovation and financial inclusion, the bank is helping South Africa’s entrepreneurs turn opportunity into sustainable success.

BUSINESS REPORT