Small, Medium and Micro Enterprises (SMME) as well as other developing contractors have in the past and are currently still experiencing extreme challenges to acquire their own construction equipment. This is due to the old adage of limited access to finance and stringent credit affordability measures through the normal financial institution processes. In addition to severely hampering the development of these businesses in realising their growth potential, it also presents a huge impediment to the development goals of the construction sector and industry.

Recognising this challenge, Dynapac SA (Pty) Ltd has introduced a simple, flexible and affordable financial solution namely Dyn@fin, that makes it possible for up-and-coming South African contractors to acquire and own compaction and road surfacing equipment.

The Dyn@fin finance package offers ownership of the equipment at the end of the customer’s selected repayment period, irrespective of the purchase plan. Being off-balance sheet it affords the business more growth flexibility.  

“This unique and innovative finance package stems from our understanding of the importance of developing the SMME construction sector so it can play a more meaningful role not only in the construction industry but also in the larger South African economy,” affirms Neville Marthinussen, Business Line Manager at Dynapac South Africa.

“Dyn@fin will assist this vital SMME segment of our customer portfolio to build an asset base in order to develop and grow their business and secure future projects.”

Dyn@fin has placed specialist yellow metal finance management in control of the finance process with simple, easy-to-follow steps to assist customers in obtaining finance in a faster and much more efficient way compared to conventional methods.

Various payment options in terms of deposits, repayment terms, direct instalments and sale purchases are available. Marthinussen points out that each plan and option is tailor-made to suit the customer’s current requirements and business capabilities with each deal structured to ensure the instalments are affordable and below the average cost of finance.

Assistance with cash flow and contributing to the improvement of the credit ratings of these contractors are further key benefits offered by this versatile plan.

“We are proud of the fact that the Dyna@fin program was developed in South Africa especially for the South African market with the support from our regional and global management teams,” says Marthinussen who reveals that they are in the process of rolling Dyn@fin out to all players in the broader construction industry.

“We have seen growing pressure on affordability but also profitability of new equipment which is exacerbated by the recent negative economic developments within this space and is now further hampered by the current technical recession.

The introduction of Dyn@fin could therefore not have come at a better time. Since its launch in the second quarter of 2018 we have seen substantial market gain which has contributed positively to our growth, a most encouraging sign especially when taking into account the tough economic trading climate.”

“We want to be part of the solution to development of the industry and, through the support of our solid financial assistance, we are empowering SMME contractors to create jobs, upskill people and uplift communities, ultimately making a valuable contribution to the South African economy,” concludes Marthinussen.

Dynapac, part of Fayat Group, is a global frontrunner in the manufacture and supply of equipment for the roadbuilding and civil construction industries. South Africa is a key market for Dynapac in the Heavy and Light compaction equipment, as well as Road Paving equipment.  /ends