Name of the fund
The 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
FUNDING CRITERIA FOR MERCANTILE BANK - THE SOUTH AFRICAN FUTURE TRUST:
- Be able to prove the current or future impact of COVID-19 on your operation
- Have been trading for 24 months or more
- Be in good standing with the bank
- Have an annual turnover of less than R25m
- Includes sole proprietors, partnerships, operating trusts, CCs and Pty Ltd
HOW TO APPLY TO MERCANTILE BANK - THE SOUTH AFRICAN FUTURE TRUST:
You will need to provide the following documents with your application:
- Company registration number (Closed Corporations).
- ID number and business address (Sole Proprietors).
- Master’s reference number (if applying on behalf of a trust).
- Names, ID numbers and email addresses of all directors, trustees, sole proprietor or members.
- Income tax reference.
- PAYE number (if applicable).
- A list of all full-time employees who require SAFT payments including ID numbers, full names, mobile telephone number, email address and bank account details.
- Send your email with all documents attached with subject: SAFT Application.
ADDITIONAL INFORMATION FOR MERCANTILE BANK - THE SOUTH AFRICAN FUTURE TRUST:
- Business Banking Clients | email@example.com