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Enterprise Development Fund
NATURE OF SUPPORT: Financial assistance
BENEFICIARIES: Businesses (including co-operatives) operating in the Western Cape that has a black shareholding of at least 51%.
PROJECT DESCRIPTION: The Enterprise Development Fund is an initiative between the Department of Economic Development and Tourism and the National Empowerment Fund (NEF) aimed at supporting qualifying small, medium and micro enterprises (SMME’s) as well as co-operatives in the Western Cape with financial support.
The Enterprise Development Fund aims to assist and accelerate the development of the operational and financial capacities of qualifying businesses.
The ED Fund offers the following benefits to qualifying beneficiaries:
- Financial assistance in the form of a (low cost) loan ranging between R 250 000 – R 75 000 000 to qualifying entities.
Who can qualify for assistance from the ED Fund?
- All applicants must reflect an ownership make-up of a minimum of 51% black shareholding;
- Must be in possession of a valid tax clearance certificate;
- Must be in possession of all compliance permits and licences;
- Annual turnover must be between R 500 000 and R 5 000 000 per annum;
- Latest financial statements must be available;
- Certified copies of business owner’s/shareholders’ identity documents;
- Three-months bank statement of the business;
- Company profile / proposal / business plan.
The process with regard to the identification of successful applicants will be as follow:
- Proposals to be evaluated by a committee;
- Completeness of proposal (attachment / submission of all necessary documents) will play a major part in the success of the application;
- Communication with regard to the outcome of the submitted proposal will be handled by the Department.
National Empowerment Fund
Mr Peter-Jon Thebus
Tel: 021 483 9026
- Financial Support (Site Page)
- Partnership Network (Public Information)
- Minister Encourages Entrepreneurs Make Use of Enterprise Development Fund (News)
- Minister Winde to Provide Progress Report on Enterprise Development Fund (News)
The content on this page was last updated on 27 January 2014