Relief Funding for Businesses Effected by the Riots and Looting

posted in: Business Grants | 0

Relief funding is now available for businesses effected by the recent riots in KwaZulu-Natal and Gauteng. Government has set aside a R3.75-billion fund which forms part of the R38 billion relief package announced recently.  The relief fund is in collaboration with a cluster of state owned entities that includes the Industrial Development Corporation (IDC) and the National Empowerment Fund (NEF).

The relief fund aims to assist hundreds of businesses that were impacted by rioting and looting in the provinces of Gauteng and KwaZulu-Natal, and will offer concessionary funding to qualifying affected companies through interest-free loans which can at the discretion of the lender be converted into a non-repayable grant.

  • Businesses applying for funding must be based in KwaZulu-Natal or Gauteng.
  • Funding must not be used to service existing debts with banks or fund expansions.

It is estimated that more than 75 000 workers have been impacted by the unrest in both provinces and the relief also assists in the employees of effected companies. The process will enable employers to make bulk applications and they will be required to meet the following conditions:

  • The employer must be registered with the UIF;
  • The employer’s closure must be directly linked to the destruction, damage or looting of its workplace;
  • The employer must provide details of the destruction, closure, or damage to, or looting of, its workplace and submit documentary proof of a report to the South African Police Services, with proof that a case has been opened by providing a case number, and, if insured, proof of submission and acknowledgement of receipt of the insurance claim;
  • The employer must confirm in writing or electronically that – he/she accepts the terms of the Scheme herein and any procedure document issued by UIF, and
  • Submit any other information that the Minister or delegated authority may require to assess eligibility of claim.

For more information on relief funding that is offered for companies effected by the riots and looting contact us today…