Covid-19 Funding Opportunities For SA Entrepreneurs

Covid-19 Funding Opportunities for SA entrepreneurs. The COVID-19 pandemic has had detrimental effects on the world economy as a whole and as young entrepreneur, bouncing back might be proving to be a lot more challenging than expected. Here is a list of a few relief-fund opportunities in place to assist with the damage incurred:

SME Debt Relief Finance Scheme

Administered by Department of Small Business Development.

-Covers working capital, stock, bridging finance, order finance and equipment finance.

-Amount based on business needs, interest rate of prime-5%.

-Business must be 100% South African owned with 70% employees.

-Preference will be given to women and youth.

-Register HERE https://www.smmesa.gov.za/

UIF Covid-19 Temporary Relief Scheme

UIF relief fund scheme fund for businesses that need to temporarily lay off staff as a direct result of Covid-19-claims for three months or less.

-The business mst be up to date with UIF payments.

-Employee will be paid according to the income replacement rate sliding.

-Businesses to apply on behalf of employees.

-For application documents email [email protected]

NEF Covid-19 Scheme

-Funding for working equipment, machinery to supplye and manufacture a range of medical products.

-R50 000- R10million concessionary loan for black owned businesses with existing retail supplier relationships.Up to 60 months repayment with 0% interest the first year.

-Applications open through NEF website www.nefcorp.co.za

IDC Working Capital Support

-Provision of short term working capitals for The Mining and Minerals, Agriculture and Agro-processing and Automotive Sector.

More information available at www.idc.co.za

SME Growth and Resilience Fund

-Working capital (direct costs) , stock , bridging finance , purchase order finance and capital equipment finance for SMMEs that manufacture locally or supply products in demand due to the pandemic.

-Loan facilities provided at -5%

– More information and applications available at https://www.smmesa.gov.za/