EICT and its alliance partners are assisting businesses apply for the Debt Relief Fund. We are in the process of researching and exploring the requirements of the process. At the present time it appears that the fund will be distributed to SMME’s and will take the form of a loan with a reduced interest rate (current indications appear that the rate will be at prime less 5%). It appears that the fund will be aimed at SMME’s and we believe a turnover threshold of R50 million and lower will apply. There is still significant uncertainty of the exact process and requirements but we are updating our requirements as more information becomes available.
We will provide assistance with the registration and submission of the process for interested parties. At the moment the basic information required includes information about the entity, information about shareholding, information about employees. It also appears that we would need to demonstrate a direct link between loss of income to the business and the COVID 19 Virus.
Kindly confirm you interest in this application (Click Here), by completing the Questionnaire and signing the Engagement letter.
Our fee for the registration is R1250 excl VAT. Further information may be required, which will be charged separately.