Emergency COVID-19 Funding for SMME’s
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Agri-Businesses facing financial difficulty due to the COVID 19 pandemic can benefit from the debt relief fund announced by Government to assist with the alleviation that the economic impact will have on small businesses in South Africa.
Applications opened just after midnight following the 21-day Lockdown made by President Cyril Ramaphosa
“All South Africans – with the exception of those in essential services, including the production, distribution and supply of food – will have to stay home as Covid-19 infections continue to surge and threaten to spiral out of control.” (food for mzanzi)
Additional funds made available:
- R500 million has been made available immediately by the Department of Small Business Development
- R1.2 billion will be made available to ensure that food production continues post Covid-19 by the Department of Agriculture, Land Reform and Rural Development
- R200 million available to assist SMME’s in the tourism and hospitality sector by the Department of Tourism
- R3 billion for industrial funding to address the situation of vulnerable firms by The Industrial Development Corporation with the Department of Trade, Industry and Competition.
For more information on the application for emergency funding, please visit the Small Business Development website or contact the help line number at 0860 663 7867
Sources: cnbcafrica.com / iol.co.za
