Search

National Empowerment Fund: Arts and Culture Venture Capital Fund



About the Opportunity

The fund is designed to promote and develop the arts and culture sector by providing affordable loans to start and/or expand small businesses. It is an important source of finance for start-up entities and for companies that have a limited operating history which do not have access to capital markets. The Department of Arts and Culture realizes that in order to achieve radical economic transformation, access to funding must not be limited to few businesses. The Funds will assist businesses with the potential to be self-sustainable and not rely on the government for grant funding. Funding will be made available to businesses in all provinces, where more job opportunities will be created.

Qualifying criteria:

  1. All compliance requirements listed below must be submitted;

  2. A brief profile of artists that will be performing to be included in the business plan;

  3. Justification for proposed pricing of the event and line up of artists. Demonstration of the artists’ ability to draw a crowd must be submitted as part of the business plan;

  4. There must be commercial returns at the end of the project, in other words, the revenue to be made through ticket sales must exceed the total cost of the event;

  5. The venue to be used must be available, have enough capacity, and be suitable for the event;

  6. A reputable distribution channel must be used for ticket sales; and

  7. A demonstration of how the proposed timing of the show is optimal, that is, it should not coincide with other events that may compromise the ticket sales

Compliance Requirements

  1. Completed NEF application form;

  2. Business plan and projected Income Statement, Balance Sheet and Cash Flow Statement for the duration of the funding period;

  3. Cash flow projections indicating how the loan will be repaid over the term and the loan duration;

  4. Registration documents as a legal entity;

  5. Valid tax clearance certificate;

  6. Minimum of 50.1% shareholding by black South African citizens as defined in the B-BBEE Act who are resident within the borders of South Africa;

  7. In need of start-up or expansion capital;

  8. Require loan from Arts and Culture Venture Capital Fund of not less than R250,000 and not more than R5 million; However, applicants are welcome to apply for normal NEF funding above R5 million;

  9. Loan repayment should be within twenty-four (24) months;



For more information, please click:

https://www.nefcorp.co.za/products-services/arts-culture-venture-capital-fund/


To Download Application Form, please Click:

https://www.nefcorp.co.za/wp-content/uploads/2018/07/Funding-Application-Forms.pdf


Send Application Form to:

applications@nefcorp.co.za


Contact Details:

Head Office

West Block, 187 Rivonia Road, Morningside 2057, PO Box 31, Melrose Arch, Melrose North 2076

Tel: +27 (11) 305 8000

Fax: +27 (11) 305 8001

Call Centre: 0861 843 633 | 0861

info@nefcorp.co.za (General Enquiries)

90 views0 comments