Name of the fund
NEF - Covid-19 Economic Distress Fund
Fund administered by
NEF and DTIC
Type of relief/support
Business loans with a fixed interest rate of 2.5%
Total size of the fund
Who does the fund target?
Businesses involved in the manufacturing or supply of essential goods
Manufacturing - essential medical supplies
Minimum amount you can apply for
Maximum amount you can apply for
FUNDING CRITERIA FOR THE NEF - COVID-19 ECONOMIC DISTRESS FUND:
- The business must have at least 10 employees.
- The business must have a copy of the historical financial statements (up to 3 years ).
- The business must show that the business is unable to fund its operating activities in the next six months.
- The business must prove that getting financial support will give their business a fair chance of recovery and job retention.
- The business must demonstrate a track record of honoring debt obligations, except during the period since the Covid-19 pandemic began.
- The applicants must demonstrate that the business is unlikely to pay all its debts due in the next six months without external financial support.
HOW TO APPLY FOR THE NEF - COVID-19 ECONOMIC DISTRESS FUND:
Fill in the application form https://www.nefcorp.co.za/wp-content/uploads/2021/02/NEF-COVID-19-Economic-Distress-Fund-Application-Form.pdf
ADDITIONAL INFORMATION FOR THE NEF - COVID-19 ECONOMIC DISTRESS FUND: