Asset Finance
Mali’s Asset Finance product is designed to help entrepreneurs, hustlers and small-business owners acquire the tools, machinery or equipment needed to grow their income. This product supports business development by offering responsible, developmental credit combined with disciplined savings through MyChama Stokvel. It is not a personal-use loan; it is strictly for business-related assets that increase productivity and earning potential.
Asset Finance Overview
A developmental credit solution created for business purposes only, enabling entrepreneurs to acquire essential tools and equipment, supported by a required MyChama Stokvel savings contribution.
- Eligibility:- Business owners, self-employed individuals and entrepreneurs.
- Loan Structure: - 100% financing by Mali.
- Repayment Period: - Based on affordability and business cash flow.
- Interest Rates:- In line with NCR developmental credit guidelines.
- Initiation and Service Fees:- Charged According to NCR Regulations.
- Repayment Method:-Secure Debicheck Mandate.
- Payout: Paid directly to preferred or approved suppliers only.
- Purpose: Strictly for income-generating business assets
Asset Finance Requirements
Applicants must demonstrate active business activity, financial discipline through MyChama Stokvel savings and the ability to manage repayments responsibly.
- Valid South African ID.
- Active business operation or verifiable self-employment.
- Active bank account where business income is deposited.
- Latest 6 months’ bank statements for business income verification.
- Proof of trading activity (receipts, invoices, statements or sales history).
- Successful affordability and business viability assessment.
- Confirmed DebiCheck mandate for repayment.
- Must be a MyChama Stockvel member for a minimum of 6 months.
- Must have saved 40% of the asset value through MyChama Stockvel.
- Valid supplier quotation, invoice or offer to purchase.
- No cash disbursement — payment made directly to the supplier.
How It Works
The process begins with an online application where you submit your business information, trading proof and MyChama Stockvel savings record. Mali reviews your business activity and conducts a developmental-credit assessment to ensure your cash flow can support repayments. Once approved, you submit a quotation or invoice for the asset you want to purchase. Mali finances 100% of the asset. The payment is then made directly to the supplier, ensuring the asset is acquired securely and used for business growth.
This approach protects you from unnecessary debt, supports business expansion and strengthens long-term financial stability.
FAQs
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Who qualifies for Mali Asset Finance?
Asset Finance is strictly for entrepreneurs, small-business owners and self-employed individuals who can show active trading. Applicants must demonstrate business income, provide supporting records and meet Mali’s affordability and viability assessments.
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Why do I need to save 40% through MyChama Stockvel before applying?
The 40% MyChama Stockvel savings requirement strengthens financial discipline.
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Do I need to be a MyChama Stockvel member to apply for Asset Finance?
Yes. You must be a MyChama Stockvel member for at least 3 months and show consistent savings behaviour. This helps establish your commitment to your business goals and forms part of Mali’s responsible lending criteria.
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Does Mali pay the loan funds directly to me?
No. Mali does not disburse cash for any business or developmental loans. Once approved, payment is made directly to the preferred or verified supplier to ensure the asset is purchased correctly and used for business purposes only.
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What documents do I need to provide from the supplier?
You must submit a valid quotation, invoice or offer to purchase for the asset you want to acquire. This allows Mali to verify the supplier, confirm pricing and process payment securely once your loan is approved.
