Applications for uninsured small business assistance from the Small Enterprise Finance Agency (Sefa) will close on Friday, August 20.
Since the beginning of August, Sefa has been working to assist small businesses affected by the recent looting and unrest in KwaZulu-Natal and Gauteng.
Mxolisi Matshamba, chief executive officer of Sefa said they believe that assisting small, medium and micro-enterprises (SMMEs) is vital and key to the country’s growth.
Matshamba said the business recovery package- open for applications until Friday- is geared towards providing working capital to uninsured small enterprises affected by the unrest.
One of the agency’s functions is to foster small enterprises so that they, in turn, can contribute towards job creation, economic growth and poverty alleviation, he said.
“At Sefa, we acknowledge the difficulties small enterprises face, and we have been determined since the beginning of August to support as many South African small business owners as possible to get back on their feet.
“We want to be part of the solution to rebuild our economy, which is why we have partnered with the Department of Small Business Development (DSBD) and the Small Enterprise Development Agency (SEDA) to support uninsured South African SMMEs through funding.”
Sefa’s business recovery package eligibility criteria is as follows: the small enterprise must;
- Be negatively affected by the unrest that took place in July 2021 (a SAPS case number and police statement must be submitted)
-Be a registered legal entity in South Africa (through the CIPC)
-Be 100% owned by South African citizens
-Have been in operation as of June 30, 2021 (bank statements to prove operations)
-Be registered and compliant with the South African Revenue Service
-Be registered on the national SMME database – https://smmesa.gov.za
-An affidavit must be supplied confirming that the business is not insured (the conditional grant provided in the scheme will be converted into a loan should the business benefit from insurance post-approval).
Preference will be given to businesses in KwaZulu-Natal and Gauteng.
There are however exclusions.
The following businesses are not eligible:
•Manufacturers and sellers of ammunition
•Those in the tobacco, liquor, gambling, and sex trade
•Persons under debt review
•Unrehabilitated insolvent shareholders and/or directors of applying entities
•Speculative property development
•Informal businesses are excluded since there is a dedicated support package for them (the Informal Traders Support Package)
To find out how to access funding through the package, visit http://www.sefa.org.za.