FUND DETAILS
Name of the fund
Enterprise and Supplier Development Fund
Fund administered by
National Empowerment Fund (NEF) and (STLM)
Type of relief/support
Repayable loans at a prime-linked interest rate
Total size of the fund
R50m
Who does the fund target?
Small, medium and micro enterprises (SMMEs)
Sector target
All sectors except sin industries
Minimum amount you can apply for
R250 000
Maximum amount you can apply for
R5 000 000
The Steve Tshwete Local Municipality (STLM) in collaboration with the National Empowerment Fund (NEF) has jointly set aside R50 million towards the Enterprise and Supplier Development (ESD) fund established between the two entities, to benefit black owned and managed SMMEs situated within the municipality. The municipality will make a financial contribution of R20m, the NEF committing R30m for qualifying transactions on a 40:60 ratio.
ELIGIBILITY CRITERIA FOR THE ENTERPRISE AND SUPPLIER DEVELOPMENT FUND:
- Your business is 30% or more Black-owned or Black-women owned.
- Your business has a BEE status of between 1 and 3 as defined in the B-BBEE Codes of Good Practice.
- Your business can show it provides job creation.
- Your business can show commercial sustainability.
ADDITIONAL INFORMATION FOR THE ENTERPRISE AND SUPPLIER DEVELOPMENT FUND:
For additional information, visit https://www.nefcorp.co.za/r50m-set-aside-for-black-smmes-in-steve-tshwete-local-municipality/
Related Links:
Featured Articles:
- https://www.iol.co.za/business-report/entrepreneurs/steve-tshwete-municipality-sets-aside-r50m-for-black-smmes-7fe901b2-cef5-4b08-a50a-b0de63444758
- https://www.buzzlifenews.com/2021/07/02/r50m-set-aside-for-black-smmes-in-steve-tshwete-local-municipality/?utm_source=rss&utm_medium=rss&utm_campaign=r50m-set-aside-for-black-smmes-in-steve-tshwete-local-municipality