1. Funding Info
  2. COVID-19 relief funds
  3. Banks/Private sector funds now closed

Standard Bank - Business Interruption Payment Scheme

FUND DETAILS

Name of the fund                                                     

Standard Bank - Coronavirus Business Interruption Payment Scheme

Fund administered by                                              

Standard Bank

Type of relief/support                                            

Deferral of instalment from 1 April 2020 until 30 June 2020

Total size of the fund                                                

Not stipulated

Who does the fund target?             

SMMEs

Sector target             

Not stipulated

Minimum amount you can apply for    

Not stipulated

Maximum amount you can apply for                               

Not stipulated

NB. THIS INSTALMENT RELIEF WAS OFFERED FROM 1 APRIL 2020 TO 30 JUNE 2020, REPAYMENTS WILL RECOMMENCE FROM JULY. PLEASE SPEAK TO YOUR BUSINESS BANKER FOR FURTHER INFORMATION.

FUNDING CRITERIA FOR THE STANDARD BANK CORONAVIRUS BUSINESS INTERRUPTION PAYMENT SCHEME:

  • Your business is South African based, with a turnover of no more than R 20 million per year.

  • Your business Current account, Bizlaunch account and Business Lending accounts are paid up to date.

  • Your business is in good standing, and not in arrears as at 31 March 2020.

  • Standard Bank will set up automatic new payment terms for all the Standard bank clients who meet the requirements.

This includes:

  • Business Revolving Credit Plan.

  • Term loans.

  • Vehicle Asset Finance (including Fleet Card, Managed Maintenance and Rentals).

  • BizFlex.

  • Home loans in the name of a business (excluding trusts).

  • The term of the loans will be extended by 3 months to ensure that the monthly instalments do not increase materially after the instalment relief.

The Coronavirus Business Interruption Payment will be automatically applied however, should you wish to opt-out of the instalment relief pay your loan instalment or email businessassist@standardbank.co.za

ADDITIONAL INFORMATION FOR THE STANDARD BANK CORONAVIRUS BUSINESS INTERRUPTION PAYMENT SCHEME:

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