The business Growth and Resilience Facility

Does your business manufacture any product that could curb and manage the spread of the Corona (Covid-19) virus? The Government has already identified products such as sanitizers, detergents, and tissue paper to qualify, but invite any other manufacturers of similar products to get into contact with them on the www.SMMESA.gov site. Apart from the general qualification criteria (add link here), the products also need to be manufactured in South Africa.

This facility will offer working capital stock bridging finance, order finance, and equipment finance. The funding amount will be based on the funding need of the actual business.

The SMME Relief finance facility will provide soft-loan funding for existing businesses in distress due to the COVID-19 pandemic. The relief will be for a period of 6 months from 1 April 2020. In an instance where SMMEs will require assistance for longer than six months, the term may be extended dependent on their needs. Separate and tailor-made facilities re being finalized for the informal Sector, Spaza Shops, and the Self-employed. These will be announced on Friday, 27 March 2020.

The SMME Relief finance facility

This facility is positioned to provide soft-loan funding for existing businesses in distress due to the COVID-19 pandemic. The relief will be for a period of 6 months from 1 April 2020. In an instance where SMMEs will require assistance for longer than six months, the term may be extended dependent on their needs.

Separate and tailor-made facilities are being finalized for the informal Sector, Spaza Shops, and the Self-employed. These will be announced on Friday, 27 March 2020.

The Sefa-Debt Restructuring facility

This facility is geared towards self-funded SMMEs that are negatively affected by the pandemic.

A payment moratorium/holiday will be given to the qualifying SMMEs for a period of a maximum of 6 months, in efforts to reduce the instalment burden of loan obligations on the affected SMMEs.

These SMMEs will be required to illustrate the direct linkage of their business distress to the pandemic.