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

      Debt Relief Finance Scheme

      FUND DETAILS

      Name of the fund

      Debt Relief Finance Scheme

      Fund administered by                                               

      Department of Small Business Development

      Type of relief/support:                                                         

      Loan funding @ Prime -5%

      Total size of the fund                                                   

      Increased to R500m, from an initial R200m

      Who does the fund target?

      SMME specifically

      Sector target

      All sectors

      Minimum amount you can apply for

      Not stipulated

      Maximum amount you can apply for

      Not stipulated

      NB: Window 1 of the above fund is now closed for applications

      FUNDING CRITERIA FOR THE DEBT RELIEF FINANCE SCHEME:     

      • Business must be registered with CIPC.
      • Turnover must be less than R20m.   
      • Must be SARS compliant (i.e. up to date with submissions and payments).

      HOW TO APPLY FOR THE DEBT RELIEF FINANCE SCHEME:

      NB: Window 1 of the above fund is now closed for applications

      DOCUMENTATION TO BE PROVIDED FOR THE DEBT RELIEF FINANCE SCHEME:

      • CIPC registration documents.
      • FICA documents (e.g. municipal accounts, letter from traditional authority).
      • Certified ID copies of directors.
      • 3 months’ bank statements.
      • Latest annual financial statements or latest management accounts not older than three months from date of application - where applicable.
      • Business profile.
      • 6 months’ cash flow projections - where applicable.
      • Copy of lease agreement or proof ownership if applying for rental relief.
      • If applying for payroll relief, details of employees - as registered with UIF and including banking details - will be required as payroll payments will be made directly to employees.
      • SMME employers who are not compliant with UIF must register before applying for relief.
      • Facility statements of other funders.
      • Detailed breakdown on application of funds including salaries, rent etc.

      FOR ADDITIONAL INFORMATION ON THE DEBT RELIEF FINANCE SCHEME:

      smmerelief@seda.org.za | 0860 663 7867 or 0860 ONE STOP

       

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