iloli is SA’s only funder to …
- focus on emerging trucking entrepreneurs & owner-drivers
- and provide both working capital and/or truck & trailer financing [no deposit required]
About iloli …
The logistics/transport sector is like the arteries of the South African economy – carrying the lifeblood of key sectors like mining, commodities, FMCG, manufacturing and agriculture.
It’s also an easy-win entry point for emerging entrepreneurs to start and grow a stable business.
However, the asset-heavy nature of trucking – has a Pro & Con. The Con is the struggle to finance that high capex. The Pro is entrepreneurs eventually build an asset base & balance sheet with their fleet.
iloli is SA’s only funder to focus on emerging trucking entrepreneurs & owner-drivers.
And provide both working capital and/or truck & trailer financing.
iloli’s purpose is to solve the funding barrier for emerging truckers and owner-drivers, facilitating their entry into a key sector – helping them grow and build an asset base.
iloli
means truck or lorry in Zulu
Our criteria …
iloli is strictly focused on emerging trucking entrepreneurs and owner-drivers … this is who we finance.
You will be considered for finance if:
you have an existing trucking business
you have at least a few clients
your finance need is to start/expand on a contract – with an end client that is a corporate or a mid-sized main logistics contractor
OR
you’re an existing owner-driver within a large corporate’s owner-driver program
We don’t serve start-ups.
Emerging Trucking Entrepreneur
Funding emerging trucking entrepreneurs or owner-drivers is usually a challenge – for 2 main reasons:
- firstly, the financial history often does not justify their capex funding needs
- secondly, funders struggle to rely on transport contracts – as transport contracts are often ‘lite’ and one-sided
However, iloli understands emerging trucking entrepreneurs as we only work with them & our credit assessment process is aligned to their challenges.
We offer 100% finance – we do not require a deposit.
Corporates – for your logistics contractors
- a corporate usually appoints a main logistics contractor and/or emerging trucking entrepreneurs or owner-drivers
- in appointing emerging trucking entrepreneurs or owner-drivers – the corporate often bears the brunt when:
- the entrepreneur has inconsistent deliveries – due to older fleet or cashflow constraints for fuel & maintenance
- it’s pestered for early payments – due to transporters’ cashflow constraints & poor planning
- iloli’s answers to this are: our specialisation in this market, our truck financing program and our early payment program for a corporate’s transporters
Main logistics contractors – for your subbies
- main logistics contractors often appoint emerging trucking entrepreneurs as subbies
- in appointing these subbies – the main logistics contractor often bears the brunt when:
- the subbie has inconsistent deliveries – due to older fleet or cashflow constraints for fuel & maintenance
- it’s pestered for early payments – due to subbies’ cashflow constraints & poor planning
- iloli’s answers to this are: our specialisation in this market, our truck financing program and our early payment program for your subbies
Truck Dealers & Trailer Manufacturers
- truck dealers & trailer manufacturers find it challenging to get finance for their emerging trucking clients
- as an example, say a dealer or manufacturer has 100 deals in their pipeline and 60 of these are from emerging clients
- these 60 emerging clients struggle to get traditional finance – and most of these deals are lost
- iloli’s answer to this is our partnership program for truck dealers & trailer manufacturers
Who’s backing us ?
iloli has the advantage of being powered by an established 40-year-old SME lender – Spartan SME Finance
Spartan is a Registered Credit Provider NCRCP8669, in terms of Section 40 of the National Credit Act 34 of 2005, as amended
Spartan is an Authorised Financial Services Provider, with licence number 47631, in terms of Section 8 of the Financial Advisory And Intermediary Services Act, 2002 (Act No. 37 of 2002)
Members of: Aspen Network of Entrepreneurs (ANDE); SME Finance Forum (Managed by IFC); Association of SMME Funders
What our emerging trucking entrepreneurs say …
“we knew that when we were actually deep in the waters Spartan had come through to our rescue and we believed in the relationship we had built with Spartan … so we went back to Spartan for funding”
“we where approved by funders that represent the OEMs – however we knew that when we were actually deep in the waters Spartan had come through to our rescue and we believed in the relationship we had built with Spartan … so we went back to Spartan for funding instead”
“this particular contract needed specialised trailers that are for the transportation of dry-bulk material … transported under strict conditions”
“we needed financing that would give us more than the 1 or 2 trucks at a time – we got a contract with one of our biggest clients and they required that we should have more trucks”
“Spartan offered us the finance for the 5 trucks, we definitely wanted to get all 5 at once – since we’ve started we have never got such a big fleet from the word go in one finance application”
“the impact it has made in our business is more productivity, more income and more work … we’re also creating more jobs as we had to hire more truck drivers”
How it works ..?
A few FAQs …
iloli is strictly focused on emerging trucking entrepreneurs and owner-drivers … this is who we finance.
You will be considered for finance if:
- you have an existing trucking business
- you have at least a few clients
- your finance need is to start/expand on a contract – with an end client that is a corporate or a mid-sized main logistics contractor
OR
- you’re an existing owner-driver within a large corporate’s owner-driver program
We don’t serve start-ups.
iloli’s purpose is to solve the funding barrier for emerging truckers and owner-drivers, facilitating their entry into a key sector – helping them grow and build an asset base
- truck & trailer financing
- working capital financing
- trucking finance program – for transporters of corporates or main logistics contractors
- early payment program – for transporters of corporates or main logistics contractors
- for emerging trucking entrepreneurs – our minimum finance amount is R1M and can go over R10M
- for corporates – the program size for truck financing is at least R25M, the early payment program size is at least R10M per month
- for main logistics contractors – the program size for truck financing is at least R25M, the early payment program size is at least R10M per month
- Truck/Trailer Finance: 12-60 months
- Working Capital Finance: 1-3 months or 6-12 months
- Early Payment Program: 30-90 days [but, paid within 48hrs of approved invoice]
No, with us you do not require any deposit for our finance …
We offer 100% finance without any deposit.
From the time that we have received all your information:
- +- 5-10 days to approval
- sometimes quicker or longer depending on your responsiveness
- iloli finances in a no/low collateral context, with an approx 5-10 day turnaround
- therefore we supplement your bank rather than substitute it
- our pricing is relative to the above
- however, against usual secured overdraft rates – our costing is reasonable
Documents we require include:
- financial information – this includes AFS, Management Accounts and 6 months Bank Statement
- personal assets & liabilities statement – we do secured and unsecured lending, this helps us with our risk mitigation
- transport contracts with key clients
- we focus exclusively on South African SME’s
- if your business is based in South Africa but also operates outside of South Africa then we may be able to finance you
- once we understand your context we approve you as an accredited partner
- we’ll assign a dedicated person to engage with you for all your deals – managing the relationship
- you refer your emerging trucking clients to iloli – and close more deals
Contact us …