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Q. what are my options for getting US finance/loan/operating capital (from existing lender) into my South African bank account

Category: Accounting and Finance

Industry: Export/Import

Location: South Africa

2 answers | on 17/11/09

Corne Barnard

Corne Barnard E

Industry: Green Building/Renewable Energy
Pretoria, South Africa

Answers

David van der Merwe

David van der Merwe S

Industry: Business Consulting/Coaching
Seattle, United States

You require South African government approval to bring foreign capital into the country. Without it your foreign lenders will not be able to repatriate their funds when the loan is repaid or receive interest payments abroad.

To do this you must approach your South African bank and ask them to apply for foreign exchange approval on your behalf. Once approval has been obtained, it is a simlpe matter for an US bank to do a wire transfer of funds directly into your bank account.

on 6/12/09

Gautam Shah

Gautam Shah S

Industry: Education/Training
Princeton, United States

Funding from overseas financial instituitons require to follow legal channels. Repayment of funding must be assured since foreign exchange is involved. You must contact your banker for securing approval of repatriation of funds from the Reserve Bank of South Africa. On basis of this approval you can approach any US bank for funding.

on 8/12/09

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