NEF - COVID-19 Economic Distress Fund

FUND DETAILS

Name of the fund

NEF - Covid-19 Economic Distress Fund

Fund administered by                                                 

NEF and DTIC

Type of relief/support                                                 

Business loans with a fixed interest rate of 2.5%

Total size of the fund

R200m

Who does the fund target?

Businesses involved in the manufacturing or supply of essential goods

Sector targeted

Manufacturing - essential medical supplies

Minimum amount you can apply for                  

R250 000

Maximum amount you can apply for

R10m

FUNDING CRITERIA FOR THE NEF - COVID-19 ECONOMIC DISTRESS FUND:    

  • The business must have at least 10 employees.
  • The business must have a copy of the historical financial statements (up to 3 years ).
  • The business must show that the business is unable to fund its operating activities in the next six months.
  • The business must prove that getting financial support will give their business a fair chance of recovery and job retention.
  • The business must demonstrate a track record of honoring debt obligations, except during the period since the Covid-19 pandemic began.
  • The applicants must demonstrate that the business is unlikely to pay all its debts due in the next six months without external financial support.

HOW TO APPLY FOR THE NEF - COVID-19 ECONOMIC DISTRESS FUND:

Fill in the application form https://www.nefcorp.co.za/wp-content/uploads/2021/02/NEF-COVID-19-Economic-Distress-Fund-Application-Form.pdf

ADDITIONAL INFORMATION FOR THE NEF - COVID-19 ECONOMIC DISTRESS FUND:    

www.nefcorp.co.za | covidfund@nefcorp.co.za | 011 305 8080

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