The coronavirus slowdown affects us all. But, it’s especially tough for South African business owners.
Every day we speak with business owners who are struggling. They’re worried about paying salaries and sustaining their SMEs in a post-coronavirus world.
In response, the government, private sector, and citizens have come together to offer support when small businesses need it most.
In this post, you will learn:
- How to become a top Lulalend affiliate
- How Lulalend affiliates help SMEs grow during difficult times
COVID-19 SME support: What are we doing at Lulalend?
To support SMEs during this difficult time, we have:
- Continued to provide business funding
- Set up a Facebook group for South African SMEs to connect and support each other
- Created content that covers the latest on COVID-19 SME support
- Lobbied for government and private sector to join forces to help SMEs
We also depend on affiliates like you.
As a Lulalend affiliate, you play an important role in our COVID-19 support programme.
If you’re a business advisor or an accountant, you are already giving SME owners valuable guidance about the future of their businesses. Now more than ever before, business owners depend on your advice to make decisions about their short-term financial futures.
As a Lulalend affiliate, you can also tell them about fast business funding.
How top affiliates support South African SMEs
Lucille Bester, Lulalend’s Head of Sales, shared practical strategies used by Lulalend’s most successful affiliates.
Bester said top affiliates made their customers aware about online funding and shared relevant business finance content with their clients.
Here’s a summary of the top points:
1. Share your referral link widely
A simple technique to spread the word about online funding is to share your referral link whenever you communicate with new customers.
Bester suggested the following tactics:
- Add your link to your email signature
- Create a website button to display your link prominently
2. Use customer data
Perhaps you’re a business consultant or an accountant. It’s your job to sort through your customer’s data to steer them in the right direction, added Bester.
In some sectors, SMEs are busier than ever because they deliver goods and services that are in high demand due to the outbreak.
“Maybe there’s a client who’s missing out on new contracts or opportunities because of cash flow. Here’s where you can support them to secure funding,” said Bester.
3. Ensuring a perfect match
Our top affiliates understand the minimum requirements, which include:
- R500 000 minimum annual revenue
- One year trading history
Unlike banks, we don’t ask business owners to submit stacks of paperwork. All you need is three months of bank statements.
4. Teach your audience about business finance
Securing business funding can be a complex journey.
Your SME network can easily become overwhelmed with endless information from different sources.
“Your clients trust you. And they trust you to make ethical decisions in the interests of their businesses,” said Bester.
On top of connecting your clients with responsible funders, let your audience have access to content that serves their funding needs.
We’ve written about:
- How to apply for a business loan in South Africa
- The most common mistakes SMES make when they apply for loans
- How fintech speeds up fintech funding
Our blog is updated weekly with new content tailored to help SMEs get the funding they need to grow. When you give business owners more information about the minimum requirements, they stand the best shot at accessing finance.
5. Subscribe to our communication channels
At Lulalend, we believe in the power of community.
That’s why we set up SA Small Business Unlocked.
Plus, we publish the latest news on SME funding on the Lulalend Facebook and Twitter channels.
Our weekly email updates SMEs about new promotions and useful content.
It’s not always hard to find the right funder for your needs. We create content that aims to help SMEs make the best decision for their business.
6. Write a Lulalend review
By writing an honest, helpful Lulalend review, you can expand your own network.
Your profile will be noticed in the search results. And review based on your real engagement with the company positions you as a trusted contact for SMEs searching for funding.
Connect South African SMEs with easy access to capital
Are you ready to spread the word about fast business funding?
As a Lulalend affiliate, you have the power to save SMEs. Together, we can expand access to finance for businesses throughout South Africa.