Debt relief fund for SMMEs amid Covid-19 pandemic
“The Debt Relief Fund is aimed at providing relief on existing debts and repayments, to assist SMMEs during the period of the Covid-19 state of disaster.”
Whether you are funded by the state or not, you could get some sort of relief. This will be look at by a case by case basis to qualify,
you will have to prove a direct link between your inability to service your business loan and the coronavirus outbreak.
“This facility will also assist entities to acquire raw material, pay labour and operational costs. All these interventions will be structured to match the patterns of the SMMEs cash flows, as well as the extent of the impact suffered.”
If the SMME businesses qualify, funds will
be offered for working capital, bridging finance, stock, order finance and/or equipment finance, and the amount required will be based on the funding needs of each business.
Enterprises seeking assistance must register on the SMME South Africa portal at www.smmesa.gov.za, which will open on 24 March.Read more