Other requirements
Business Partners Limited considers financing applications up to R25 million in all sectors of the economy. Applications for financing below R500 000 are usually not considered; the company does not operate in the informal or micro enterprise sectors.
Business Parners Contact details
E-mail: enquiries@businesspartners.co.za
Tel: 0861 SMEFIN (0861 763 346)
Branch offices
Website: http://www.businesspartners.co.za/
3. IDC
What is IDC?
IDC is a national development finance institution set up to promote economic growth and industrial development. It is owned by the South African government under the supervision of the Economic Development ministry.
Duration of a loan?
IDC funding usually takes the form of medium term loans (three to seven years) with interest charged at prime + related rates
Requirments:
We encourage existing manufacturers who wish to expand and/or modernise their production capacity; manufacturers in distress due to global economic trading conditions; and entrepreneurs who wish to start up small to medium manufacturing facilities to apply for IDC support.
Every business proposal is considered on its own merit, but preference is given to:
- Financing fixed assets and the fixed portion of growth in working capital requirements;
- Supporting projects and/or businesses that have a high developmental impact such as rural development, empowerment, job creation, township development and value addition; and
- Supplying distress funding for troubled companies that have a clear turnaround plan.
IDC Contact details
E-mail: callcentre@idc.co.za
Tel: 0860 693 888 (Call Centre), +27 (0)11 269 3000
Fax: +27 (0)11 269 3116)
Regional offices
Website: http://www.idc.co.za/
4. NYDA
What is NYDA?
The National Youth Development Agency (NYDA) is a South African-based agency established primarily to tackle challenges that the nation’s youth are faced with
NYDA Services
NYDA is offering grands to a total of 500 enterprises every year
What types of grants you can apply for?
• Individual grants will be issued to (Formal and informal businesses) who are at the promising and start-up phase of their development or development stage.
• Co-operatives: which are autonomous association of persons united voluntarily to meet their common economic and social needs and aspirations through a jointly owned and democratically controlled enterprise organised and operated on cooperative principles.
• Community Development Facilitation projects: the NYDA will also facilitate a process of community development through identifying projects that will be funded through NYDA funds and/or funds sourced from partners.
NYDA Grands requirments
• Are youth (18-35 yrs.) with necessary skills, experience or; with the potential skill appropriate for the enterprise that they conduct or intend to conduct;
• Are South African citizens, are resident within the borders of South Africa and members of the entity should comprise 100% South African citizen;
• Requires the grant for business start-up or growth.
• Must be willing to join the business on a full-time basis;
• Are involved in the day-to-day operation and management of the business;
• For groups they must have or be willing to form a group of minimum 5 persons;
• Operate either informally or formally; generally recognised as micro enterprises (e.g. street traders, vendors, emerging enterprises);
• Have a profit motive and are commercially viable and sustainable;
• Business are operating within the borders of South Africa;
7. What types of businesses can be assisted through the NYDA Grant Programme?
The types of businesses that will be assisted through the Grant Programme include but are not limited to; motor mechanics/panel beaters, electricians, plumbers, domestic appliance repair services, beauticians, hair dressers, cleaning companies, small scale recycling companies, street vendors, car washes and others.
Does a grant mean that I do not have to pay back the money that NYDA gives to me as an entrepreneur?
Yes, a grant does not have to be paid back, however all successful applicants will be required to actively participate in NYDA development support services such as mentorship, entrepreneurship development programme, market linkages, skills programmes etc. for two years.
NYDA Contacts
Call Centre: +27 10 880 1809
Fax: 086 606 6563
Email: info@nyda.gov.za
NYDA Branches
NYDA Enquire Online
Other ways you can fund your startup business
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Franchise
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