Name of the fund
Sukuma Relief Fund - SMMEs
Fund administered by
Type of relief/support
Interest free loan for 12 months with no repayment obligations. The money can be used to cover payroll and other monthly operating overheads. There is also an unsecured interest-bearing loan of R250 000 and R1m coupled with non-repayable grant of R250 000 per qualifying business.
Total size of the fund
Who does the fund target?
Close Corporations, companies and trusts
Minimum amount you can apply for
Maximum amount you can apply for
- Business must provide evidence of financial activity prior to the COVID -19 outbreak.
- Must be SARS compliant.
- Be formally registered.
HOW TO APPLY:
PLEASE NOTE APPLICATIONS FOR THIS FUND ARE CURRENTLY CLOSED.
- Register on https://finance.businesspartners.co.za/financial-aid-for-formal-small-and-medium-enterprises/
- Complete online application form.
- Upload required supporting documents.
SUPPORTING DOCUMENTATION TO BE PROVIDED:
- Annual financial statements for the financial period ended 28 February 2019, signed off by a professional accountant and management accounts for the period 1 March 2019 until at least 31 December 2019.
- The latest available EMP201 document submitted to SARS, not older than 3 months.
- 3 months’ bank statements for the business for the period 1 December 2019 to 29 February 2020 to assess operations before the lockdown.
- A rental (premises) statement, not older than 3 months.
- The statements for any other credit agreements such as asset finance or trade finance loan agreements as at 31 January 2020.
- Motivation and supporting documentation clearly illustrating the financial distress suffered by the SME as a result of the COVID-19 outbreak. The motivation can cover the following information: reduction in turnover; erosion of working capital; inability or difficulty to pay wages and preserve jobs; inability to pay rent; inability to pay for other overheads; inability or difficulty in servicing existing debt obligations; or all of the above.
- Statement of assets and liabilities for the main business owner.
- Copies of IDs of all directors, shareholders, members, and trustees, where applicable.
- Copy of marriage certificate including ANC contract, divorce certificate, or death certificate if applicable.
- Copy of registration certificate.
- Copy of memorandum of incorporation.
- Copy of the company’s share register.
For Close Corporations:
- Founding statement.
- Copy of the trust deed.
- Copy of the Master’s Authority Certificate.
- Copy of IDs of all trustees.
- Confirmation of bank account details issued by the relevant bank.
FOR ADDITIONAL INFORMATION:
- email@example.com | 011 713 6600