Funding Opportunities for South African Entrepreneurs
Discover various funding options available for South African entrepreneurs, including government agencies like SEDA and SEFA, as well as alternative sources such as crowdfunding and purchase order funding. Learn about the funding requirements and how organizations like SEDA and SEFA support small, medium, and micro enterprises in South Africa.
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FUNDING OPPORTUNITIES FOR SOUTH AFRICAN ENTREPRENEURS
OPTIONS AVAILABLE TO SOUTH AFRICAN ENTREPRENEURS Small Enterprise Development Agency (SEDA) : https://www.seda.org.za/ Small Enterprise Finance Agency (SEFA) https://www.sefa.org.za/ Department of Trade, Industry, and Competition (DTIC) https://www.thedtic.gov.za/ National Empowerment Fund (NEF) https://www.nefcorp.co.za/ National Youth Development Agency (NYDA) NYDA https://www.nyda.gov.za/ May be grants special grants/loans especially for agriculture, technology, green energy and manufacturing see regional /government department websites Self-funding Friends and Family Banks/ other Financial Providers e.g. FNB, ABSA, Old Mutual, Business Partners, Vodacom, etc. Crowdfunding: USA https://www.kickstarter.com/ Biggest in Africa https://thundafund.africa/ Purchase Order Funding /Invoice Factoring https://www.brightoncapital.co.za/ https://www.sourcefin.co.za/ https://www.merchantcapital.co.za/ (Lots of good reviews) https://www.bridgement.com/ 2
SEDA & SEFA SEDA: Small Enterprise Development Agency SEDA: Small Enterprise Development Agency Purpose: SEDA's primary goal is to promote the growth and development of small, medium, and micro enterprises (SMMEs) in South Africa. Services: SEDA offers a wide range of services, including Business development support: Providing guidance on business planning, marketing, and operations. Training and mentorship: Offering training programs and mentorship opportunities for entrepreneurs. Funding and finance: Facilitating access to funding and finance options, such as loans, grants, and equity investments. Networking and collaboration: Connecting entrepreneurs with industry experts, potential partners, and other resources. SEFA: Small Enterprise Finance Agency SEFA: Small Enterprise Finance Agency Purpose: SEFA focuses on providing financial assistance to small businesses in South Africa. Services: SEFA offers various financial products, including Loans: Providing loans to businesses for working capital, fixed assets, and expansion purposes. Guarantees: Offering guarantees to help businesses access credit from commercial banks. Equity investments: Investing in promising small businesses in exchange for equity. 3
FUNDING REQUIREMENTS Standard Funding Document requirements Standard Funding Document requirements Business Plan Loan Repayment Schedule CICP registration SARS UIF, PAYS, SARs CLEARANCE PIN Certified IDs of Directors Bank Confirmation letter Company Profile CV of Senior Employees Statement of Assets: personal/business Exceptions / Differences: Exceptions / Differences: 1. Small Enterprise Development Agency (SEDA) WHY? Its mission is to help grow SMALL Enterprises including Informal/micro, Sole Proprieties 2. Gov agencies- does not ask for assets as surety 3. Can grant loans even when the Company Director credit profile is not clear excludes Debt Review 4. SEFA will give payment holidays 5. SEFA/IDC/NEF low interest rates: 2.5-5% fixed and they can have longer repayment terms 4
Terrill Christians | 082 925 3939 | Terrill Christians | 082 925 3939 | terrill@successbydesign.co.za terrill@successbydesign.co.za | | www.successbydesign.co.za www.successbydesign.co.za
