Innovation Bridge Portal South Africa
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Overview

The IDC has established a R300-million Covid-19 Small Industrial Finance Distress Fund to assist qualifying IDC clients, as well as new clients, that have been negatively affected by the Covid-19 pandemic. The fund offers concessionary finance to cover their short-term operating costs.

Funding Criteria; 

  • Existing small business with a trading history of more than 12 months
  • Registered business operating within the borders of South Africa
  • Annual turnover/revenue does not exceed R100-million
  • Business plan showing a clear turnaround strategy within the next 36 months

Click here for more information.

Click here to complete a form, indicating your interest to apply for the fund. 

Full description

Qulaifying Sectors; 

  • Agro-processing and Agriculture
  • Chemicals, Medical & Industrial Mineral Products
  • Industrial Mineral Products
  • Tourism
  • Clothing and Textiles
  • Wood and Furniture Products
  • Automotive and Transportation
  • Basic Metal Producers
  • Machinery and Equipment
  • ICT Services and Business Process Outsourcing (BPO)
  • Energy and Infrastructure

Exclusions 

  • Financing for normal expansions
  • Refinancing of existing facilities
  • Share buy-backs
  • Payment of non-operational expenditure

Website

https://www.idc.co.za/small-industrial-finance-distress-fund/