The Eastern Cape Development Corporation (ECDC) has launched a new digital platform aimed at transforming the way small-and-medium businesses (SMBs) access funding to grow their various ventures, automating loan funding and business support processes.
The integrated virtual platform, designed to enable seamless interaction and application for ECDC products and services, marks a significant milestone in supporting entrepreneurial growth, the organisation says.
“We are excited to introduce this game-changing online platform that will transform the way SMBs access funding,” says Darwin Zinzile Nkonki, enterprise finance and business support executive at ECDC. “Our goal is to make the process easier and more efficient enabling entrepreneurs to focus on what they do best – growing their businesses and supplying their communities with goods and services, as well as creating job opportunities. This platform not only streamlines the application process, but also provides training and support to new entrepreneurs, equipping them with the tools they need to succeed.”
The platform has been designed by Finfind and CEO, Darlene Menzies, adds: “We are proud to be partnering with the ECDC and the Nelson Mandela iHub to contribute to the vital work they are doing to support MSMEs in the Eastern Cape.”
Among the services the platform provides are efficient application processes that fast-track verifications such as ID and CIPC documents, significantly reducing processing time.
The platform also extends the ECDC’s reach beyond their physical offices, ensuring that entrepreneurs located in remote areas can benefit from its services. In addition to funding, the platform offers comprehensive training for new entrepreneurs covering essential topics such as company registration and the development of customised business plans.