FNB - COVID-19 Term Loan Scheme

FUND DETAILS

Name of the fund                                                             

FNB COVID-19 Term Loan Scheme

Fund administered by                                                     

FNB, on behalf of National Treasury and the South African Reserve Bank

Type of relief/support                                                     

Term loan including a six-month payment break for the first payment.

Total size of the fund                                                      

R200b

Who does the fund target?                                           

All businesses, regardless of turnover

Sector target                                                                 

All sectors                     

Minimum amount you can apply for                                         

Not stipulated 

Maximum amount you can apply for                            

R100 million

Please note there may be changes to the Term Loan Scheme, discussions are currently under way with National Treasury and the Reserve Bank. A portion of the funds will be set aside to help businesses restart. Please speak with your business banker for more information regarding this.

APPLICATIONS FOR THE COVID-19 TERM LOAN SCHEME WILL CLOSE ON 11 JULY 2021.

FUNDING CRITERIA FOR FNB COVID-19 TERM LOAN SCHEME:                                      

• The business must show that they were in good standing before the COVID -19 pandemic.

• The business must have been negatively impacted by COVID -19.

• The business must be registered with the Companies and Intellectual Property Commission (CIPC).

• The business must be registered with, and in good standing with SARS as 29 February 2020 (i.e. up to date on all credit agreements, good credit history).

HOW TO APPLY FOR FNB COVID-19 TERM LOAN SCHEME:    

• Qualifying clients can contact the Business Desk on 087 736 2247.

ADDITIONAL INFORMATION FOR FNB COVID-19 TERM LOAN SCHEME:    

0877362247 | Speak to your business banker

Related Links:

• https://www.fnb.co.za/realhelp/for-my-business/government-relief/loanSchemePhase2.html

• https://www.fnb.co.za/realhelp/for-my-business/loanScheme.html

Featured Articles:

• https://businesstech.co.za/news/banking/393516/this-is-what-you-will-need-to-apply-for-a-coronavirus-business-loan-fnb/

• https://www.fanews.co.za/article/covid-19-coronavirus-disease/1425/general/1430/fnb-welcomes-covid-19-loan-scheme-and-commits-to-deployment-to-help-businesses/28916

• https://www.businesslive.co.za/bd/companies/financial-services/fnb-expects-to-provide-even-more-covid-19-payment-relief/

• http://www.treasury.gov.za/comm_media/press/2020/20200512+Media+statement+-+Loan+0guarantee+scheme+opens.pdf

• http://www.treasury.gov.za/comm_media/press/2020/COVID-19+loan+guarantee+scheme+FAQs+26+July.pdf

•  https://www.iol.co.za/business-report/companies/covid-19-how-the-r200bn-loan-scheme-will-work-for-struggling-companies-47089416

•  https://www.dailymaverick.co.za/article/2020-04-24-a-r200bn-shot-of-adrenalin-for-the-formal-economy/

•  https://www.iol.co.za/business-report/economy/smes-can-apply-for-funding-from-r200bn-covid-19-term-loan-scheme-47847381

• https://www.businessinsider.co.za/how-to-apply-for-covid-19-credit-loan-guarantee-scheme-2020-6

• https://www.dailymaverick.co.za/article/2020-10-12-governments-covid-19-loan-guarantee-scheme-still-stuck-on-the-runway/?utm_medium=email&utm_campaign=Business+Maverick+Tuesday+13+October+-+NWU&utm_content=Business+Maverick+Tuesday+13+October+-+NWU+CID_77058e264c3e4e2dbc1fc126e09bd58f&utm_source=TouchBasePro&utm_term=Governments+Covid-19+loan+guarantee+scheme+still+stuck+on+the+runway

• https://www.gov.za/speeches/treasury-three-month-extension-covid-19-coronavirus-loan-guarantee-scheme-12-apr-2021-0000#