14/04/2024
5 Companies and organisations that can assist in funding your SME
Here is a list of financing websites:
1. Department of Trade and Industry (the dti)
The dti promotes economic development and Black Economic Empowerment. This is achieved through a number of Industrial Development Initiatives.
2. National Empowerment Fund (NEF)
The National Empowerment Fund promotes black economic participation. The Empowerment Fund provides business loans from R250 000 to R75 million across all industry sectors.
3. Industrial Development Corporation (IDC)
The IDC, founded in 1940 is a state owned finance institution. It functions as a means to generate balanced and sustainable growth in Africa. The IDC funds start ups and existing businesses up to a maximum of R1 billion.
4. Small Enterprise Finance Agency (SEFA)
Small Enterprise Finance Agency was established in 2012 as a result of a merger of South African Micro Apex Fund, Khula Enterprise Finance Ltd and the small business activities of IDC.
SEFA prides itself on the mandate to foster establishment, survival and growth of SMMEs. They also aim to contribute to poverty alleviation and job creation. SEFA provides loans from R50 000 to R5 million to SMMEs and co-operatives.
5. Isivande Women’s Fund
The Isivande Women’s Fund aims to stimulate black economic empowerment. The fund, originally targeted at women but then opened its doors for all black persons in South Africa. The Isivande Women’s Fund specialises in start up funding, business expansion, rehabilitation as well as financing.
The IWF is managed by the IDC and provides funding from R30 000 to R2 million.
IOL
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