South Africa Support Business Covid19 Loan: the Government has unrolled a string of resilience grants and tax/debt stimulus packs for SMMEs.
Titled Temporary Financial Relief Scheme for Destroyed, Affected, or Looted Workplaces, the project encompasses every effort to stem Covid19 impacts on society. It also provides an enveloping category for SMEs and companies eligible for tax subsidies.
The loan covers sectarian enterprises in tourism, travel, and agriculture. Further, small businesses and medium-scale companies get resilience/stimulus support from the pay model.
Who can apply? Practically, everyone specified by the loan schema can apply for the grants pertaining to his category. As per small ventures, the following eligibility criteria apply preliminarily.
SARS Grants Small Enterprises
To get started on this Package, applicants will have to acquire the requisite tax clearance information (the process might admit tax certificates to that effect).
Since the measure attempts to relieve the financial impact of Covid19 on small businesses, it waives a portion of the outstanding tax, easing debt clearance for the stakeholders.
How do you go about acquiring the Tax Relief Package, though?
So far, the best step in this direction is to access the TAX COMPLIANCE STATUS portal for due process. Check the official website for details.
Note: the SARS grant for small enterprises eases debt payment for indigenous businesses. Ensure you get one today
Is that all we can expect from the South Africa Support Business Covid19 Loan news? Of course not! See similar projects in the sections below.
South Africa Support Business Covid19 Loan: Debt Relief Finance Scheme SMMEs
Small and Medium Enterprises in South Africa impacted by Covid19 are eligible for this loan as a relief aid during the pandemic.
Below are the eligibility criteria.
- The company must be a property of a South African or an indigenous South African conglomerate.
- Registration with the CIPC (countdown from 28 February 2020) is necessary
- SMMEs will have at least seventy percent (70%) of South Africans as employees
- Observe SARS and UIF compliancy
- Liaison must proceed via firstname.lastname@example.org.
- Preliminary enrollment in the SMME Database
- The demonstrable impact of Covid19 on the business
- Apply duly via the online portal
- Provide statutory documents and requisite FICA papers (check the SEDA Portal for specifications)
- Bank statements of not less than three months of consecutive transactions
- Audits for trades concluded annually
- Six (6) months revenue projections according to requirements
You can see the rest of the criteria at the official portal, smmesa.gov.za (preferably, contact the CS branch via the above Google address in bold print.
SEFA Grants is another branch of the South Africa Support Business Covid19 Loan project that attempts to ease Covid19 impacts. See the eligibilities below.
Restructured SEFA Loans: Eligibility Criteria
Qualified applicants get not less than half a year’s lull (moratorium) until the relevant gov.za agency calls in loans, by which period substantial yields will better position the SMMEs to pay back the loans in installments.
How it Works
- Enroll on smmeda.gov.za for a reference PIN.
- Fill out an application online using the PIN.
- Finally, ensure that you provide all the requisite documents to the website, forwarding emails to the above address in bold print.
Who is Eligible for this Grant?
Every indigenous Small, Medium and Microenterprise (SMMEs) is eligible for the relief package in this program. You can contact the CS office (the link is the same as the liaison address above) for detailed information.
Business Growth Relief (Debt Payment Ease Facility) has the same qualification metrics as the Debt Relief Project already discussed previously. However, you can learn more about the grant via the lines below.
Tel: 0860 663 7867 or 0860 ONE STOP
South Africa Support Business Covid19 Loan: Agricultural Disaster Support Fund
While every other loan discussed previously is exclusively for SMMEs and the sprawling small businesses in South Africa, the Agricultural Disaster Fund focuses on the rural communities and communal stakeholders.
Below are the eligibility criteria
- Stakeholders (communal farmers) in the yearly revenue bracket of R20,000-R1000000
- At least one year of farming
- Farms that yield these stocks: livestock, winter field crops, fruits, poultry, and vegetables
Internet processing _ You can fill out the application online, using the above address in bold print.
Online Processing _ Eligible applicants can access the application portal at the designated zonal, district, and provincial offices of the
Preferably, you can contact/use the following addresses for registration (or to get more details of the processes involved). Dalrrd.gov.za or email@example.com.
See the official website for the contacts according to provinces.
Besides a draft for SMMEs tax and (Agriculture) resilience packages, the South Africa Support Business Covid19 Loan scheme covers tourism. See the section below for details.
South Africa Tourism Relief Grant
In this case, the government grants are sustenance measures to spur the tourism industry in South Africa, which has many sites, parks, and getaway resorts.
Further, applicants with demonstrable evidence of Covid19 impacts on their tourism business will get the stimulus package earmarked for easing operational costs, supply and service delivery chain, and management costs.
- Landed properties like Bed and Breakfasts (B&B’s), hotels, resorts, parks, and so on
- Conference Avenues and catering services also factor in the criteria.
- Itinerary Services (including car rentals, coach operators, travel agents, etc.)
Moreover, qualified draws can get R50000 per successful (for one business entity) from the budget of R200000000 (two hundred million rands).
Qualified SMMEs in the tourism industry can apply via the online portal: tourism.gov.za/Pages/COVID19tourismrelieffundaspx