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      1. Funding Info
      2. COVID-19 relief funds
      3. Banks/Private sector funds now closed

      Standard Bank - COVID-19 Term Loan Scheme

      FUND DETAILS

      Name of the fund                                                             

      Standard Bank - COVID-19 Term Loan Scheme (Phase 2)

      Fund administered by                                                     

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

      Type of relief/support                                                     

      Loans will be offered at Prime interest rate

      Total size of the fund                                                      

      R100b (initially)

      Who does the fund target?                                           

      Businesses with a turnover of less than R300m

      Sector target                                                                 

      All sectors                     

      Minimum amount you can apply for                                         

      Not stipulated 

      Maximum amount you can apply for                            

      Up to R100m
      The purpose of the loan will be to assist businesses to cover business operating expenses for a maximum period of up to 6 months, with a payment holiday of up to 6 months.
      Operating expenses includes items such as: 
      • Salaries and wages.
      • Rental and lease payments in force prior to 29 Feb 2020.
      • Utility payments.
      • Supply chain expenses.
      • Cleaning and maintenance services.
      • Insurance premiums.
      • Other operating expenses e.g. security for premises, cash in transit etc.
      NB. A business may only hold one COVID-19 loan at one bank, it is recommended that you apply via your primary business bank. 

      FUNDING CRITERIA FOR THE STANDARD BANK COVID-19 TERM LOAN SCHEME:                     

      • Have an existing banking relationship with Standard Bank.
      • Are in good standing with the Bank as at 31 December 2019.
      • Are registered with the South African Revenue Service (SARS).
      • Are in a state of financial distress and require funding for operational expenses.
      • Have no existing capacity to borrow that can help alleviate financial distress; this excludes overdraft facilities and/or facilities not typically intended to support operational expenses.
      • Are a company, statutory body corporate, close corporation, sole proprietorship, trust or partnership, association, joint venture or any similar entity, but excludes state owned entities, listed companies (including their direct and indirect subsidiaries) and companies with capital market funders or funding instruments.
      • Is a South African entity, and funds lent and advanced through this scheme will be pursuant to ensuring the financial stability and continuation of South African businesses.
      • Further exceptions may exist for loan amount requests above R50m; in these instances, you will be guided by your Relationship Banker.

      HOW TO APPLY FOR THE STANDARD BANK COVID-19 TERM LOAN SCHEME:  

      Standard Bank customers must provide the following information when applying for the COVID-19 Term Loan (In addition to information about the business and director/s, shareholder/s, partner/s, trustee/s, etc.): 

      • View of business turnover over the last 12 months.
      • View of business expenses, current debt repayments and net profit before tax over the last 12-month period.
      • Business’ income tax number.
      • Description of how the business has been impacted by COVID-19.

      A list of the business’ monthly operational expenses for 6 months for which a loan is required, broken down by: 

      • Salary and wages payments.
      • Rental and lease payments.
      • Supplier payments.
      • Utility payments.
      • Other operating expenses.

      Please note that additional documentation may be requested once your application has been received based on their assessment and verification criteria. This may include annual financial statements and/or proof of income and expenses. As a Standard Bank customer, you can apply online through the Standard Bank COVID-19 website. 

      Applications are now open: https://www.standardbank.co.za/southafrica/business/covid-19/support/covid-19-business-term-loan/application#/business-details

      ADDITIONAL INFORMATION FOR THE STANDARD BANK COVID-19 TERM LOAN SCHEME:  

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