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      1. Funding Info
      2. COVID-19 relief funds
      3. Government funds now closed

      IDC COVID-19 Small Industrial Distress Fund

      FUND DETAILS

      Name of the fund:                                                              

      IDC COVID-19 Small Industrial Distress Fund

      Fund administered by:

      IDC

      Type of relief/support:      

      • Revolving credit facilities. 
      • Refinancing of existing facilities.
      • Share buy-backs.
      • Payment of non-operational expenditure. 

      Total size of the fund:      

      R300m

      Who does the fund target?                                              

      Small businesses (with a turnover of less than R50m)

      Sector target:

      • Agro-processing and agriculture.
      • Chemical products and pharmaceuticals.
      • Basic and specialty chemicals.
      • Clothing and textiles.
      • Heavy manufacturing.
      • Light manufacturing.
      • Media and audiovisuals.
      • New industries.
      • Tourism
      • Automotive transport and equipment.
      • Industrial infrastructure.
      • Basic metals and mining.            

      Minimum amount you can apply for:                                 

      R1m

      Maximum amount you can apply for:                                

      R15m

      FUNDING CRITERIA FOR THE IDC COVID-19 SMALL INDUSTRIAL DISTRESS FUND:   

      • The funding is specifically for small industrial businesses that have been affected by COVID-19, and have had their cash flows significantly eroded.
      • Existing IDC clients and new clients in distress as a result of COVID-19. 
      • Companies in distress because of the COVID-19 pandemic, not because of mismanagement .
      • Distressed funding cannot be used to fund bonuses or dividends. 

      HOW TO APPLY FOR THE IDC COVID-19 SMALL INDUSTRIAL DISTRESS FUND:      

      Follow the APPLY FOR FINANCE link at: https://www.idc.co.za/2020/03/24/idc-interventions-in-response-to-covid-19/

      DOCUMENTATION TO BE PROVIDED FOR THE IDC COVID-19 SMALL INDUSTRIAL DISTRESS FUND:   

      Documentation not stipulated, however the following documentation can be assumed as required:

      • CIPC registration documents.
      • Owners' IDs.
      • Annual financial statements.
      • Management accounts.
      • Bank statements.
      • Statements of any existing funding facilities.
      • FICA documentation.
      • Business plan.

      Please contact the IDC on the number below for a list of all documentation required. 

      CONTACT INFORMATION FOR THE IDC COVID-19 SMALL INDUSTRIAL DISTRESS FUND:     

      covid@idc.co.za | 0860 693 888

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