Scheme
Amavulandlela Funding Scheme
Credit facilities from R50 000 to R15 million for qualifying South African entrepreneurs with disabilities who are building sustainable enterprises.
Opens the Old SMME Portal sign-in page.
Overview
About the scheme
The fund was established solely for entrepreneurs with disabilities in response to high levels of poverty and unemployment among this community, and to assist them in accessing fundamental social and economic rights.
Who can apply?
Who can apply?
Small and medium-sized enterprises, including close corporations and companies, and cooperatives with at least 50+1% ownership by entrepreneurs with verified disabilities are eligible to apply for Amavulandlela funding.
- The entrepreneur must be operationally involved in the daily running of the business
- Existing businesses seeking to expand is the preferred funding candidates, but start-ups with merit may also be supported
- Funding should preferably be used for the fulfilment of orders or contracts
- Financing applications must have economic merit (financially sustainable and technically feasible)
Benefits
Benefits to entrepreneurs with disabilities
- The scheme offers standard credit facilities ranging from R50 000 up to R15-million at a preferential fixed interest rate of Prime minus 5% per annum
- Repayment terms for facilities will be up to 60 months. The actual loan duration will be subject to the projected cash flows of the business
- Normal sefa administration fees will apply
Also available
Additional customised benefits
- Pre-approval assistance of up to 5% of the local intended investment, but not exceeding R75 000, plus targeted mentoring to reach a bankable stage
- Post-approval assistance to a maximum of up to R350 000 for mentoring over two years
Exclusions
Exclusions
The following are excluded from the scheme:
- Labour brokers
- Manufacturers or sellers of ammunition
- Tobacco, liquor, gambling or sex trade businesses
- Non-profit organisations
- Political organisations
- Persons under debt review
- Unrehabilitated insolvent shareholders and/or directors of applying entities
- Primary agriculture (except cash crops, and the applicant must have an offtake agreement in place)
- Property development