The Khula Credit Indemnity Scheme was established to give access to finance to people who wish to start or expand small to medium sized businesses but do not have sufficient collateral / security to support facilities provided by participating banks. The scheme covers facilities from R10 000 to R3 million.

Who qualifies?

• Owner-managed businesses - the owner should be involved in the day-to-day running of the business on a full-time basis.
• Business activity must be situated in the Republic of South Africa.
• Business must be conducted with a profit motive and be economically viable.
• The borrower must be able to repay the bank facility.
• Individual or person holding a controlling interest must be a citizen of the Republic of South Africa.
• Borrower with proven and sufficient entrepreneurship, knowledge, skills and experience directly related to the nature of the business.
• The entrepreneur must provide own contribution towards a start-up or expansion of the business.

How do I access finance?

• As an owner or potential owner of a small or medium business, you can approach any of the following retail financial intermediaries:

Participating Financial Institutions

• Nedbank Ltd
• ABSA Bank Ltd
• First National Bank Ltd
• Standard Bank of South Africa Ltd