Programme: Funding opportunity in Alex
 

Organisation: Department of Small Business Development with Greater Alexandra Chamber of Commerce
 

Type of Support

• Funding Opportunities
• Mentorship
• Exposure / Recognition
• Skills Development

 

Programme Description
 
Small, micro and medium enterprises (SMMEs) and aspirant entrepreneurs in Alex will be able to get financing from the Department of Small Business Development, provided they present convincing business proposals. The government is looking to support business options to assist in creating employment and reducing incessant poverty. Loans of R50 000 to R5 million will be made available
 

Target Market

• Small to Medium enterprises
• Entrepreneurs based in Alex and surrounding areas
• Focus areas being on:

• Youth
• Women
• Disabled entrepreneurs
• Cooperatives in formerly disadvantaged areas

Applicants must be:

• South African citizens or have permanent residence
• Have their businesses registered in the country and have a fixed address
• Comply with the required criteria stipulated in the application form and the general corporate governance practices
• Submit a compliant business proposal and plan
• Demonstrate ability to repay the loan
• Provide credit references and relevant collateral
• The majority shareholder
• Have a valid tax clearance certificate.

 

Application Process

Applicants must present their business proposal to the department.
Applicants will stand a better chance of getting the loans if they have a clear operational plan, market, financial analysis, comply with all requirements of the criteria and demonstrate they will have an impact on poverty, job creation and economic development.
 

Contact Details

Website: http://www.dsbd.gov.za/
Telephone: 011 440 7887 or 011 440 8103
Email: nfo@galxcoc.com