Loan Term: Maximum of 10 Years.
Benefits of an Energy Fund to your Business:
- South Africa loses R500 million a day to load-shedding and according to the South African Reserve Bank, this number can increase to R900 million per day when the country faces Stage 6 power cuts.
- SMEs play a vital role in the South African economy and these losses impact them directly.
- They are also severely affected by the loss in electricity supply and many do not have the resources to invest in alternative sources of electricity supply.
- SMEs need to keep their businesses running by prioritizing the sourcing of alternative and sustainable supply of energy.
- The Energy Fund for SMEs has been introduced to:
- Allow SMEs to source alternative energy, in order to keep their businesses running.
- Help SMEs mitigate the impact of load-shedding.
- Assist SMEs with reaching their sustainability objectives
Minimum And Maximum Loan Amount
- Finance from R250 000 to a maximum of R2 000 000
The applicant must be a company or a close corporation – trusts cannot be funded. Should you not meet the criteria below, we invite you to contact us for alternative financing options.
- The applying company’s shareholding/ membership must be held by a natural person.
- The business’s turnover must be less than R20 million.
- The business must have a trading history of not less than 2 years. Start-up businesses are not financed using this financing product.
- The business must have a profitable track record.
- The business must have a clear credit record.
- The business must be able to afford installments based on cash flow history.
Required Documents Application
We require the business owner to submit some information in order for us to assess their application. Below is a list of information we typically require:
- Quotes for equipment from an accredited installer.
- Copies of Identity documents of all related parties.
- Company/ Close Corporation documents.
- Copy of Registration Certificate/ Founding Statement.
- Copy of memorandum of incorporation.
- Copy of the company’s share register.
- Signed Annual Financial Statements not older than 12 months from the date of application.
- Signed Management Accounts not older than 3 months from the date of application.
- 12 Months’ bank statements of the business for the period ending no earlier than 3 months before the date of application.
- A rental statement (premises), not older than 1 month.
- The statements for any other credit agreements such as ISA, Bond Facilities, Trade Finance; and which statements must not be older than 3 months from the date of application.
- Statements of assets and liabilities for the main business owner/s.
- Confirmation of bank account details issued by the relevant bank.
Start-up businesses are not financed using this financing product.