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

      COVID-19 Term Loan Scheme

      FUND DETAILS

      Name of the fund                                                             

      COVID-19 Term Loan Scheme
      Fund administered by                                                     
      Banking institutions, on behalf of South African Reserve Bank and National Treasury
      Type of relief/support                                                     
      Special credit facility
      Total size of the fund
      R200b
      Who does the fund target?
      SMEs with a turnover of less than R300m
      Sector target
      All sectors
      Minimum amount you can apply for
      Not stipulated
      Maximum amount you can apply for
      Not stipulated
      APPLICATIONS FOR THE COVID-19 TERM LOAN SCHEME WILL CLOSE ON 11 JULY 2021.
      FUNDING CRITERIA:              
      • SME must show that they were in good standing with their banks prior to the onset of the Covid-19 pandemic.
      • All loans will be subject to bank credit approvals.
      • Operating entities - all business types, but specifically excluding individuals, state-owned entities, listed companies and companies with capital market funders or funding instruments
      • Turnover must be less than R300m per year.
      • The business must be registered with, and in good standing with SARS as at 29 February 2020 (i.e. up to date on all credit agreements, good credit history).
      • The loan covers up to three months’ full operating expenses, and the qualifying amount will be determined by the business needs and affordability. 
      • Operating expenses include salary and wages; rental and lease cost; utilities; supply chain; and other operating expenses.
      HOW TO APPLY:
      • Complete and sign a loan application form from your bank. Only one application will be allowed to one bank.
      SUPPORTING DOCUMENTATION TO BE PROVIDED:
      • All documentation listed on the document checklist as determined by your bank.
      FOR ADDITIONAL INFORMATION:
      • Please contact your bank for further details. 
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