FUND DETAILS
Name of the fund
Standard Bank - Coronavirus Business Interruption Payment Scheme
Fund administered by
Standard Bank
Type of relief/support
Deferral of instalment from 1 April 2020 until 30 June 2020
Total size of the fund
Not stipulated
Who does the fund target?
SMMEs
Sector target
Not stipulated
Minimum amount you can apply for
Not stipulated
Maximum amount you can apply for
Not stipulated
NB. THIS INSTALMENT RELIEF WAS OFFERED FROM 1 APRIL 2020 TO 30 JUNE 2020, REPAYMENTS WILL RECOMMENCE FROM JULY. PLEASE SPEAK TO YOUR BUSINESS BANKER FOR FURTHER INFORMATION.
FUNDING CRITERIA FOR THE STANDARD BANK CORONAVIRUS BUSINESS INTERRUPTION PAYMENT SCHEME:
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Your business is South African based, with a turnover of no more than R 20 million per year.
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Your business Current account, Bizlaunch account and Business Lending accounts are paid up to date.
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Your business is in good standing, and not in arrears as at 31 March 2020.
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Standard Bank will set up automatic new payment terms for all the Standard bank clients who meet the requirements.
This includes:
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Business Revolving Credit Plan.
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Term loans.
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Vehicle Asset Finance (including Fleet Card, Managed Maintenance and Rentals).
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BizFlex.
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Home loans in the name of a business (excluding trusts).
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The term of the loans will be extended by 3 months to ensure that the monthly instalments do not increase materially after the instalment relief.
The Coronavirus Business Interruption Payment will be automatically applied however, should you wish to opt-out of the instalment relief pay your loan instalment or email businessassist@standardbank.co.za
ADDITIONAL INFORMATION FOR THE STANDARD BANK CORONAVIRUS BUSINESS INTERRUPTION PAYMENT SCHEME:
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