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NEF & Solidarity Fund’s Humanitarian Crisis Relief Fund launch new initiative to support SMME's




About the Opportunity:

The National Empowerment Fund (NEF) and the Solidarity Fund’s Humanitarian Crisis Relief Fund (HCRF) have announced a financial relief programme to support small, medium and micro enterprises (SMMEs) recover from the devastating effects of riots and unrests in KwaZulu Natal and some parts of Gauteng, which broke out in July this year.


The NEF and Solidarity Fund’s HCRF have established a R450 million SMME Support Programme, a first between the two organizations, which will support businesses that can demonstrate that they were negatively impacted by the riots and unrests in both provinces. The unrests and riots affected several businesses across KwaZulu Natal and Gauteng, bringing economic activities in both provinces to a halt.


Submission Details:

A webinar, which is planned for Thursday, 30 September 2021, will provide more details about the initiative between the two institutions.



Funding criteria:

The following criteria must be met by a business to be eligible for the support:

  • The business must be located in Gauteng and KwaZulu Natal and must demonstrate that it was affected by the riots and the unrests;

  • The business must either be a registered company, close corporation or co-operative;

  • The applicant must be a taxpayer in good standing and must provide proof thereof from SARS;

  • Demonstrate that the jobs lost during the unrests will be restored or increased within 12 months of funding;

  • Where a business is insured, funding can be provided as bridging finance against a cession by the insurance company of the insurance proceeds.

  • All recipients will be encouraged to have a SASRIA or an equivalent insurance cover going forward.

  • The business must demonstrate the need for a grant and the ability to service the loan.

  • Loans will be made available at 0% interest rate.

  • Some of the funding will be made available in the form of a grant.



For more information, please click:

https://www.nefcorp.co.za/nef-solidarity-fund-sme-funding/



Applications can be sent to:

unrest-relief@nefcorp.co.za



Contact Details:

email: covidfund@nefcorp.co.za

Tel: 0113058000


Address:

West Block, 187 Rivonia Road, Morningside 2057

PO Box 31, Melrose Arch, Melrose North 2076

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