Covid19 SA Government Response – Business Growth/Resilience FacilityVenture Central email@example.com
The second facility that the Department of Small Business Development has introduced is the Business Growth and Resilience Facility.
This facility is targeted at SMMEs who locally manufacture or supply hygiene and medical products that are in demand in order to curb and manage the spread of the COVID-19 virus. These include sanitizers, detergents and tissue paper.
The facility will offer working capital, stock, bridging finance, order finance and equipment finance. The funding amount will be based on the funding needs of the actual business.
Businesses must register on the newly launched www.smmesa.gov.za.
The database will be used for financial and non-financial support, access information about business opportunities, and access to market opportunities.
Qualifying companies must:
- Be 100% South African owned
- Have 70% South African employees
- Be compliant with SARS
Non-compliant SMMEs will be assisted with the compliance process by the department.