Programme: Isivande
Women’ Fund (IWF)
Organisation: Department of Trade and Industry, managed by the IDC through Identity Development Fund (IDF) Managers.
Type of Support
· Funding
· Business Support
Programme Description
Both short and long term loans are available under this fund, ranging from R30 000 to R5 million in the form of debt, equity or quasi equity. This can be used as bridging finance or for growth and expansion or 51% acquisition of a business.
Target Market
The following organisations are eligible:
· Black owned and managed businesses
· Black women and managed businesses
· Black youth owned and managed businesses
· White women owned and managed businesses
Application Process
Applications have to be made through Identity Development Fund Managers.
The business must have been operating for at least 6 months, with the entrepreneur being involved in the operational activities of the business.
The business must have growth potential and be commercially viable
There must be a willingness on the part of the entrepreneur to receive business support
Success Stories
i. Chanchai Soni founded Adora Fine Jewellers in 2012, She purchased stock for the business launch with the funding that she received, and is looking forward to the growth and expansion of her business.
ii. Mashudu Constance Tloubatla founder of Bliss Pharmaceuticals, which is a distributor of pharmaceuticals, nutraceuticals and medical supplies benefited from both the financial and non financial interventions from IDF and grew to having orders worth more than R70 million in 2012.
iii. In 2008, Nelani Gama, cofounded Cinnel Shoes which is a fashion brand retailing high-end women’s fashion. She has grown from operating from the boot of her car to having an online store as well as opening a retail outlet in Sandton City. The interventions from the IDF Managers allowed both Nelani and her business partner to focus on, and realise their goal of retail expansion.
Contact Details
Physical Address
2nd Floor, 33 Fricker Road, Illovo Boulevard, Illovo, 2196
Telephone: 011 772 7900 / 7910
Fax: 011 772 7950
Email: info@idf.co.za
An online application form can be completed on; http://www.idf.co.za/applya.php
The company website is as follows: http://www.idf.co.za/
Organisation: Department of Trade and Industry, managed by the IDC through Identity Development Fund (IDF) Managers.
Type of Support
· Funding
· Business Support
Programme Description
Both short and long term loans are available under this fund, ranging from R30 000 to R5 million in the form of debt, equity or quasi equity. This can be used as bridging finance or for growth and expansion or 51% acquisition of a business.
Target Market
The following organisations are eligible:
· Black owned and managed businesses
· Black women and managed businesses
· Black youth owned and managed businesses
· White women owned and managed businesses
Application Process
Applications have to be made through Identity Development Fund Managers.
The business must have been operating for at least 6 months, with the entrepreneur being involved in the operational activities of the business.
The business must have growth potential and be commercially viable
There must be a willingness on the part of the entrepreneur to receive business support
Success Stories
i. Chanchai Soni founded Adora Fine Jewellers in 2012, She purchased stock for the business launch with the funding that she received, and is looking forward to the growth and expansion of her business.
ii. Mashudu Constance Tloubatla founder of Bliss Pharmaceuticals, which is a distributor of pharmaceuticals, nutraceuticals and medical supplies benefited from both the financial and non financial interventions from IDF and grew to having orders worth more than R70 million in 2012.
iii. In 2008, Nelani Gama, cofounded Cinnel Shoes which is a fashion brand retailing high-end women’s fashion. She has grown from operating from the boot of her car to having an online store as well as opening a retail outlet in Sandton City. The interventions from the IDF Managers allowed both Nelani and her business partner to focus on, and realise their goal of retail expansion.
Contact Details
Physical Address
2nd Floor, 33 Fricker Road, Illovo Boulevard, Illovo, 2196
Telephone: 011 772 7900 / 7910
Fax: 011 772 7950
Email: info@idf.co.za
An online application form can be completed on; http://www.idf.co.za/applya.php
The company website is as follows: http://www.idf.co.za/
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