Name of the fund
FNB - South African Future Trust
Fund administered by
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
Who does the fund target?
Minimum amount you can apply for
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
- The business has an annual turnover below R25m.
- The business can clearly demonstrate the impact of COVID-19 on their operations and the business must have been in good financial health prior to 1 March 2020.
- The business must have been trading for at least 24 months.
- Confirmation of permanent employment status of employee.
- The business must have its main bank account with FNB and be in good standing with the bank and have demonstrated sound banking behaviour and maintained a good credit history.
SUPPORTING DOCUMENTATION TO BE PROVIDED:
- Company registration number (if you have a company or a close corporation).
- The Master's reference number (if applying on behalf of a trust).
- Identity number and business address (if you are a sole proprietor).
- Names and ID numbers of all directors/members/trustees/sole proprietor.
- PAYE number (if applicable).
- Income tax number.
- A list of the full-time employees to receive relief with the full names, ID numbers, bank account details and contact details.
HOW TO APPLY:
PLEASE NOTE APPLICATIONS FOR THIS FUND ARE CURRENTLY CLOSED.
FNB SMEs can register their interest to apply for the South African Future Trust (SAFT) funding by completing the SME assessment found under the “COVID-19 – For My Business” menu on the FNB App or FNB Online Banking. Log in by going to https://www.fnb.co.za/
FOR ADDITIONAL INFORMATION:
087 736 2247