Department of Small Business Development Funds.

Administered/Managed By
Department of SMME Business Development

Fund Size
This fund is currently at a budget of R500 million. However, the department is in discussions on whether this fund will be increased

Purpose 

  • The purpose of the Debt Relief Fund is strictly is to assist small businesses that are experiencing financial challenges as a result of COVID-19
  • The Debt Relief Fund is not to assist businesses that have been experiencing financial challenges prior to COVID-19
  • To mitigate the impact of the expected economic slowdown on small and medium enterprises (SME) in the country for SME businesses which are negatively affected, directly or indirectly, due to the COVID-19 pandemic

Qualifying Criteria 

  • The business must have been registered with CIPC by at least 28 February 2020
  • Small, micro and medium enterprises with 100 or less employees or an annual turnover of less than R20 million or a gross asset value of less than R5 million
  • A valid B-BBEE certificate
  • Company must be 100% owned by South African Citizens (there is a small possibility that this requirement might be waived, provided that the foreign owner is a permanent resident)
  • Employees must be 70% South Africans
  • Priority will be given to businesses owned by Women, Youth and People with Disabilities
  • Be registered and compliant with SARS and UIF
  • Registration on the National SMME Database
  • Proof that the business is negatively affected by COVID-19 pandemic
  • Provide Company Statutory Documents
  • Provide FICA documents (eg Municipal accounts, letter from traditional authority)
  • Certified ID Copies of Directors
  • 3 months Bank Statements
  • Latest Annual Financial Statements or Latest Management Accounts not older than three months from date of application – where applicable
  • Business Profile
  • 6 months Cash Flow Projections – where applicable
  • Copy of Lease Agreement or Proof ownership if applying for rental relief
  • If applying for payroll relief, details of employees – as registered with UIF and including banking details – will be required as payroll payments will be made directly to employees
  • SMME employers who are not compliant with UIF must register before applying for relief
  • Facility Statements of Other Funders
  • Detail breakdown on application of funds including salaries, rent etc

Application Process 

  • To access the fund, businesses are required to register here. It requires applicants to fill in the details of their shareholder/s as well as their employee demographics and whether they require financial assistance or non-financial assistance
  • Upon completion of the online registration form, an applicant will be issued a reference number to be quoted when completing the financial assistance application form
  • Downloadable application forms are scheduled to be available here soonest. These are to be completed and manually returned to the email address on the form
  • Due to system overload as a result of demand, the department have created a different communication channel to assist applicants experiencing challenges accessing application forms and information Those experiencing challenges are urged to send an email with their Name, Company Name, and Cell Number to info@dsbd.gov.za

More Information / Contact Details
Website: click here
Help line: 0860 663 7867
Email: info@dsbd.gov.za

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