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

      ABSA - South African Future Trust

      FUND DETAILS

      Name of the fund                                                     

      ABSA - The South African Trust 

      Fund administered by                                              

      ABSA

      Type of relief/support                                             

      The fund is to provide relief to the SMME sector in the form of 5-year, interest-free loans to qualifying businesses, for the purpose of maintaining minimum weekly payments to those employees who are at risk of losing their jobs or suffer loss of income.                                         

      Total size of the fund                                                

      R1bn

      Who does the fund target?             

      SMME 

      Sector target             

      All sectors

      Minimum amount you can apply for     

      Not stipulated

      Maximum amount you can apply for                               

      R750 per qualifying employee per week, over a period of 15 weeks i.e. R11 250 per permanent employee

      PLEASE NOTE APPLICATIONS WILL NO LONGER BE AVAILABLE AS THE FUND IS NOW DEPLETED

      FUNDING CRITERIA:

      To qualify for a SAFT loan your business needs to visit www.absa.co.za

      • Be able to prove the current or future impact of COVID-19 on your operation.
      • Have been trading for 24 months or more.
      • Be in good standing with the bank.
      • Have an annual turnover of less than R25m.
      • Includes sole proprietors, partnerships, operating trusts, CCs and Pty Ltd.

      HOW TO APPLY:

      PLEASE NOTE APPLICATIONS WILL NO LONGER BE AVAILABLE AS THE FUND IS NOW DEPLETED 

      You will need to provide the following documents with your application:

      • Company registration number (Closed Corporations).
      • ID number and business address (sole proprietors).
      • Master’s reference number (if applying on behalf of a trust).
      • Names, ID numbers and email addresses of all directors, trustees, sole proprietor or members.
      • Income tax reference.
      • PAYE number (if applicable).
      • A list of all full-time employees who require SAFT payments including ID numbers, full names, mobile telephone number, email address and bank account details.
      • Send your email with all documents attached with subject: SAFT Application.
      • Register at : https://www.absa.co.za/personal/covid-19/south-african-future-trust

      FOR ADDITIONAL INFORMATION: