Wesbank’s job creation finance initiative launched in September 2003 and designed for small- and medium-sized companies is proving to a real money-spinner, the bank says
Wesbank’s job creation finance initiative launched in September 2003 and designed for small- and medium-sized companies is proving to a real money-spinner, the bank says.
The initiative rewards companies that have created additional employment by allowing them a 0,25 per cent rebate on interest charges on any moveable assets financed through Wesbank.
To qualify for the rebate, companies need to employ at least one extra person during the first year of the finance period. These companies will then be entitled to a 0,25 per cent rebate calculated over the entire contract period, and not just the first 12 months.
Peter Page, head of Wesbank Business, said: “Since launching the Job Creation Finance initiative towards the end of last year, Wesbank has achieved tremendous milestones in terms of assisting with job creation and in turn generating just over R100 million in job creation finance transactions.”
