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Dept urges SMMEs to apply for relief packages following July unrest

20 September 2021 1:37 PM
Tags:
Small businesses
SMMEs
Small Enterprise Finance Agency
July Unrest

According to Small Enterprise Finance Agency (SEFA) Executive Finance Manager Tumi Sefolo, the department had divided the support into two different packages for informal and formal businesses.

Author: Tebogo Mokwena

Read more small business good news on Vutivi Business News.

The Small Business Development Department has called on formal and informal SMMEs to apply for the various relief packages that were established to assist those impacted by July’s civil unrest.

According to Small Enterprise Finance Agency (SEFA) Executive Finance Manager Tumi Sefolo, the department had divided the support into two different packages for informal and formal businesses.

Sefolo said that R300-million has been set aside for these relief packages. “The first is for formal businesses where we are offering support up to R2-million of which 60% is a grant and 40% repayable loan at a 5% interest rate,” she said.

“The second package is for informal traders where we are offering a once-off grant of R3,000 to restart their businesses.”

Sefolo told Vutivi News that the qualification criteria were not restrictive. “Businesses must have been operating as of 30 June 2021, and must have been affected by the unrest,” she said.

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This article first appeared on EWN : Dept urges SMMEs to apply for relief packages following July unrest




20 September 2021 1:37 PM
Tags:
Small businesses
SMMEs
Small Enterprise Finance Agency
July Unrest

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