FNB Business Loan

FNB business loan requirements

FNB’s document requirements distinguish existing customers from businesses banking elsewhere:

• Existing customers borrowing below R400,000: Supporting documents or collateral may not be required.
• Existing customers borrowing above R400,000: A business finance application, signed annual financial statements, year-to-date management accounts and financial projections.
• Non-customers: Six months’ bank statements, signed annual financial statements, year-to-date management accounts, projections and a business plan.

The wording does not clarify the document category for exactly R400,000; confirm this with FNB. Ask for the identity, business-registration and signing-authority documents relevant to your legal structure.

Reduced paperwork does not remove credit assessment. FNB’s privacy notice allows credit-bureau enquiries where legally permissible. Prepare a cash-flow forecast that shows how repayments fit alongside payroll, tax, suppliers and existing debt, including a weaker trading period.

Who should consider an FNB Business Loan?

This is worth assessing when the funding need has a clear amount, purpose and repayment source. For example, an expansion should generate enough additional cash to support the instalment without relying entirely on optimistic sales forecasts.

Reconsider borrowing if the business needs repeated loans to cover continuing losses. An overdraft or revolving facility may suit recurring cash-flow gaps better; asset finance deserves a separate quotation when purchasing equipment or vehicles. Compare other business funding options using the same amount, repayment period and security assumptions.

A start-up should establish its eligibility before committing to purchases. The reviewed product information does not establish automatic approval for a new business or a universal minimum trading history.

How the FNB business loan application works

Application and assessment

1. Define the request: Specify the amount, purpose and repayment period your forecast supports.
2. Submit directly to FNB: Use the official application channel or speak to a business banker. FNB’s business-loan contact number is 087 736 2247.
3. Review the offer: Check the interest basis, fees, insurance, security, repayment schedule and conditions attached to approval.
4. Complete the conditions: Required facility and collateral documents must be signed before the loan becomes available.

Approval and payment timing

No firm approval or payout deadline was identified. Ask FNB to distinguish the credit-decision date from the date funds will be usable. Avoid committing to a supplier deadline on the strength of an application acknowledgement.

Questions to ask before accepting FNB’s offer

• What cash amount will reach the business, and are any fees deducted or added to the debt?
• Is the quoted annual rate fixed or linked to prime? How would a rate increase affect repayments?
• What is the total repayment including fees and compulsory insurance, and which business-account charges are additional?
• Does security or personal surety cover only this loan or other FNB obligations? What must happen before it is released?
• Which insurance policy is required, can existing cover be accepted, and what exclusions affect the insured person?
• Which National Credit Act provisions apply to this agreement, and what charges or notice requirements apply to early settlement?

FNB Business Loan advantages and limitations

• Defined repayment structure: Paying down capital can suit an investment with an identifiable useful life and expected return.
• Published fee schedule: Initiation and monthly credit charges can be checked before requesting a quotation.
• Account requirement: Include the cost and practical implications of maintaining business banking with FNB.
• Price remains individual: A published fee schedule does not reveal your interest rate, insurance premium or final total cost.
• Potential personal exposure: Read any surety separately from the loan offer. Understand the obligations you would assume if the business cannot pay.

FNB business loan interest, fees and insurance

Interest and the quoted repayment

Check whether the offer fixes the annual rate or links it to prime. A personalised interest rate is not an APR incorporating all borrowing costs. Request the repayment schedule and total amount payable rather than relying on an interest-only calculator.

Published credit fees

FNB’s 2026/2027 pricing guide, page 28, lists these VAT-inclusive charges under business and bounce-back loans:

• Initiation: 1.25% of the facility amount, minimum R499, for both borrower categories. The guide states that National Credit Act maximum fees apply to natural persons.
• Monthly credit fee for juristic borrowers: 0.0621% of the facility amount, minimum R69 and maximum R690. This category includes entities such as companies.
• Monthly credit fee for natural-person borrowers: R69.
• Default-related charge: A section 129 letter fee of R111.50 is listed. Other applicable recovery costs need checking in the agreement.

The percentage-based monthly charge uses the facility amount. Do not assume it falls automatically as the outstanding capital reduces. Confirm account fees, security costs and the treatment of fees added to the balance.

Illustration of fees on a R200,000 company loan

Original fee-only calculation, not an FNB quotation: For a juristic borrower with a R200,000 facility maintained for 24 months, the published formula gives a R2,500 initiation fee and R124.20 monthly credit fee. Those charges total R5,480.80, assuming unchanged pricing throughout.

This is not the total borrowing cost. It excludes interest, insurance, transactional-account charges, security costs and default charges. A full repayment calculation requires the actual quotation and any charges financed into the loan.

Insurance requirements and exclusions

Clause 6 of FNB’s published general loan terms requires life and permanent-disability cover for the borrower or surety. It permits an acceptable existing or new policy from an authorised insurer. Confirm how this wording applies to your facility and obtain the premium before comparing offers.

The separately published Business Credit Protection Plan covers eligible sole proprietors and single-member entities. Its wording excludes disability arising within the first three months and, for the first 12 months, specified conditions known to have affected the insured person during the preceding 12 months. Other exclusions apply. Check the policy schedule supplied with your offer; these conditions should not be assumed to describe every acceptable insurance policy.

Is the FNB Business Loan worth considering?

FNB is worth including in a quotation comparison when a planned investment can support scheduled repayments. Its strongest feature is a structure that reduces the debt over an agreed period. Its main limitation is that the final price and security obligations emerge through assessment.

The decisive comparison is the cash received against the full repayment cost and personal exposure. A smaller instalment is not sufficient justification for extending borrowing beyond the period in which the investment is likely to earn its return.

FNB business loan FAQs

Is R400,000 the maximum FNB business loan, or can I borrow more?

R400,000 is a documentation threshold, not the advertised maximum. FNB lists requirements for larger applications, including signed financial statements, management accounts and projections. Existing customers borrowing below that threshold may qualify without supporting documents or collateral. The product page does not publish a universal ceiling or clarify the document category for exactly R400,000. Compare the amount actually offered with your funding requirement, rather than treating another lender’s higher advertised limit as an approval indication.

Can I apply before moving my business banking to FNB?

Yes. Non-customers can apply and must open an FNB Business Account if successful. FNB requests six months’ bank statements, signed financial information, projections and a business plan. Before switching, establish which account is required and whether turnover must flow through it. Include transaction charges and any overlapping banking costs when comparing FNB’s quotation with an offer from your existing bank.

Will FNB consider a start-up without financial statements or six months’ trading history?

The published requirements do not establish a separate approval route for businesses without trading records. A business plan is requested from non-customers, but it is not presented as a substitute for financial statements and bank statements. Ask whether FNB will consider your application using forecasts and what additional evidence it would require. If the business is still pre-revenue, compare business funding options that explicitly accommodate that stage.

Could I remain personally liable if FNB does not require collateral?

A collateral exemption does not establish that personal surety is waived. Ask FNB to identify each obligation separately. Its published general loan terms also provide for security to support other existing or future liabilities to the bank. Check whether that wording appears in your agreement, whether any surety has a monetary limit, and what releases it. This can materially change the comparison with an offer requiring narrower security.

Do FNB’s business loan fees differ for sole traders and companies?

Yes—the monthly credit fee depends on the borrower category. FNB’s July 2026–June 2027 guide lists R69 for natural persons and 0.0621% of the facility amount for juristic borrowers, subject to a R69 minimum and R690 maximum. For illustration, a R200,000 company facility produces a R124.20 monthly credit fee. That calculation uses the facility amount, not the reducing balance. Interest, initiation fees, any required insurance and business-account charges are additional; ask FNB to confirm your classification and full repayment cost.

Can I make extra payments or refinance an FNB business loan without a penalty?

Extra payments and full early settlement receive different treatment. FNB’s published general terms allow penalty-free prepayments, allocated first to unpaid interest, then fees, then capital. They permit an early-settlement fee where legally allowed and describe settlement quotes as valid for five business days. Confirm your agreement’s terms before refinancing. Compare the interest saved against settlement charges, new initiation fees and any security-release costs.

Should I choose FNB’s Business Loan or Business Revolving Loan if I need funds repeatedly?

The term loan does not provide automatic redraw rights; its published general terms leave access to prepaid amounts to FNB’s discretion. The separate Business Revolving Loan starts at R20,000 and advertises further access after 15% has been repaid, subject to its conditions. That flexibility carries a fee difference for companies: the 2026/2027 guide lists a monthly revolving credit fee of 0.125% of the facility, versus 0.0621% for the term loan, both with R69–R690 limits. Compare that continuing cost with how frequently you expect to borrow again.

Can FNB reduce my instalments if sales fall or customers pay late?

A lower instalment requires an agreed change; a cash-flow shortfall does not suspend repayment. Ask your business banker to assess the position using updated management accounts, overdue customer invoices and a revised forecast. For any proposed extension or temporary arrangement, obtain the revised total repayment, treatment of unpaid interest, fees and credit-reporting consequences. FNB’s published terms allow default to lead to a demand for the outstanding debt, so distinguish a formal repayment agreement from an informal discussion.

How can I challenge an unexpected FNB business loan fee or settlement charge?

Send FNB the accepted quotation, relevant agreement clause, statement entry and your calculation of the disputed amount. Use its complaints process through care@fnb.co.za or 087 575 9408, and request a reference number and written explanation. FNB says it aims to resolve complaints within five business days, with updates if more time is needed. An unresolved banking dispute may go to the National Financial Ombud Scheme on 086 080 0900, subject to its jurisdiction.