SEFA FUNDING: 2024 GREAT OPPORTUNITIES

Many small and medium-sized enterprises (SMEs) and cooperatives struggle to secure commercial credit, despite their potential for growth and job creation. This is where the Small Enterprise Finance Agency (sefa) comes in. SEFA FUNDING

sefa funding is an agency of the South African government that provides development finance to qualifying SMMEs and cooperatives. The agency is committed to providing these entities with the best service and expertise, and does so in innovative and creative ways. With a focus on sectors such as services, manufacturing, agriculture, construction, mining, and green industries, sefa offers a range of financial products and services to help SMEs and cooperatives thrive.

One of the key ways that sefa supports SMEs and cooperatives is through its direct lending products. These products provide loans directly to qualifying entities, ranging from a minimum of R50 000 to a maximum of R15-million. This means that SMEs and cooperatives have access to the capital they need to invest in their business, expand their operations, and create jobs. In addition to direct lending products, sefa funding also offers asset finance solutions tailored to the specific needs of SMEs and cooperatives.

These solutions can help businesses acquire the equipment and machinery they need to operate efficiently and effectively. Overall, sefa funding is a valuable resource for small businesses in South Africa. With its commitment to providing development finance, expertise, and support, the agency helps SMEs and cooperatives overcome the hurdles they face and achieve their growth potential. So if you’re a small business owner or cooperative in need of financing and support, sefa is the agency to choose.

Asset finance is a great way for businesses to acquire the necessary machinery and equipment needed for their operations. sefa offers asset finance solutions that are tailored to meet the unique needs of your business. With our help, you can finance a wide range of new and/or used moveable assets that are essential for your business success. One of the options available to businesses is a bridging loan. This is a short-term loan that is provided to an enterprise to finance its working capital, such as stock and/or operating overheads.

sefa funding It is a great way to bridge the gap between your current financial situation and the future success of your business. Another option is a revolving loan. This is a line of credit where the borrower is allowed to use the funds when they are needed. It is a flexible solution that gives you the freedom to access funds as and when you need them. This can be particularly useful for seasonal businesses or those with irregular cash flow. Term loans are also available, which offer businesses the cash they need to purchase other forms of moveable assets.

This option is ideal for those looking to make a significant investment in their business, such as purchasing new machinery or equipment. With a term loan, businesses can spread the cost over a set period of time, making it easier to manage their finances. In addition to these options, sefa funding also offers the Tourism Equity Fund (TEF). The TEF is a fund established by the Department of Tourism (DT) in partnership with the private sector and banking institutions. It is in line with the existing B-BBEE legislation and is implemented by sefa on behalf of the DT.

This fund is specifically designed to support businesses in the tourism industry, providing them with the financial support they need to succeed. Overall, asset finance is a fantastic way for businesses to acquire the machinery and equipment they need to succeed. With sefa’s tailored solutions, you can access the funds you need to purchase a wide range of moveable assets. Whether you’re looking for a short-term bridging loan or a long-term term loan, sefa funding has the expertise to help you succeed.

sefa funding A bridging loan is a financial tool that is designed to provide short-term financing to businesses for their working capital requirements. The loan is typically used to finance the purchase of stock and other operating expenses. This credit facility is particularly suitable for business-to-business transactions, where one enterprise has secured firm contracts (purchase orders) with other businesses that offer services and/or products.

Revolving credit facilities are often used for operating purposes and the loan amount varies from month to month, depending on the client’s current cash flow needs. The loan is given in advance and is available to established businesses that are existing clients with satisfactory credit records. One of the benefits of a bridging loan is that repayments are structured in relation to the business’s cash flow projections. This means that the loan repayment terms are tailored to the business’s expected income, making it easier for the business to budget for the loan repayments.

sefa funding In addition to bridging loans, businesses can also take advantage of term loans, which are used to acquire movable assets that cannot be identified by means of serial numbers, such as office furniture, fixtures, and fittings. Unlike asset financing, term loans provide businesses with the cash they need to purchase other forms of movable assets. Overall, bridging loans and term loans are invaluable financial tools that businesses can use to meet their short-term and long-term financing needs.

By understanding the benefits of these loans and how they work, businesses can make informed decisions about their financing options and ensure that they have the cash they need to grow and thrive. The Tourism Equity Fund (TEF) is a crucial financial resource established by the Department of Tourism (DT) in partnership with the private sector and banking institutions. This innovative fund is designed to promote growth and transformation in line with the Tourism B-BBEE Sector Codes, which seek to address the funding challenges faced by enterprises in the tourism sector.

sefa funding The TEF is implemented by the Small Enterprise Finance Agency (sefa) on behalf of the DT. One of the key features of the TEF is that it offers a blended finance support system, which includes both a loan from sefa funding and any other strategic financiers, as well as a grant funding from the DT. This unique structure ensures that businesses in the tourism sector have access to the financial resources they need to grow and thrive. The TEF has a specific set of objectives that it aims to achieve. Firstly, it seeks to promote growth and transformation in line with the Tourism B-BBEE Sector Codes.

sefa funding Secondly, it aims to address the funding challenges faced by enterprises in the tourism sector. Thirdly, it seeks to stimulate job creation in the sector, which is a critical aspect of any economic development strategy. The TEF has a particular focus on four key areas within the tourism sector. These areas include accommodation, hospitality and related services, travel and related services, and other tourism-related initiatives.

Accommodation encompasses establishments like hotels, resort properties, bed and breakfast (B&B), guest houses, game lodges, resorts, and backpackers facilities. Hospitality and related services include conference and convention venues that are significantly tied to accommodation facilities, restaurants, and professional catering. Privately owned attractions within well-established tourism hubs are also eligible for consideration. Travel and related services comprise of tour wholesalers, tour operators, travel agents, tourist guides, car rental companies, and coach operators. sefa funding

sefa funding Lastly, the TEF is open to enterprises within the tourism sector and all parts of the value chain as prescribed in the Tourism B-BBEE Sector Code. In conclusion, the Tourism Equity Fund is a crucial financial resource for businesses in the tourism sector. Its blended finance support system, specific objectives, and focus on key areas make it an essential tool for promoting growth and transformation in this critical sector of the economy.

sefa funding In order to be considered eligible for support from the Tourism Equity Fund, tourism enterprises must meet a set of specific and strict criteria. These criteria are put in place to ensure that the financial assistance is directed towards businesses that are owned and managed by South African citizens, thereby promoting economic growth and development within the country. One of the key requirements that must be met is that the targeted entity must be wholly owned by South African citizens.

sefa funding This means that 100% of the business must be owned by individuals who are citizens of South Africa. This stipulation is in place to ensure that the financial assistance provided by the fund is directed towards businesses that are truly rooted in the local community, and that the benefits of the funding are felt by those who live and work within the country. Beyond this basic requirement, there are additional criteria that must be met to be considered eligible for support from the Tourism Equity Fund. sefa funding

sefa funding These include factors such as the size and type of the enterprise, the nature of its operations, and its potential for growth and sustainability. In addition, businesses must demonstrate a clear commitment to promoting and supporting local communities, and must show evidence of good governance and financial management. sefa funding

sefa funding While the criteria for eligibility may seem stringent, they are designed to ensure that the funds are directed towards businesses that have the potential to make a real impact on the tourism industry in South Africa, while also contributing to the economic growth and development of the country as a whole. By supporting locally-owned tourism enterprises, the Tourism Equity Fund is helping to build a stronger, more resilient economy that benefits all South Africans.

sefa funding When it comes to qualifying for funding from the Tourism Equity Fund (TEF), there are several requirements that an enterprise must meet. The first of these is ownership. To be eligible for TEF funding, the targeted entity must be wholly owned by South African citizens. This means that all 100% of its ownership must be vested in individuals who are South Africans. In addition to being wholly owned by South African citizens, the targeted entity must also have a minimum of 30% black ownership. sefa funding

sefa funding However, if the black ownership in the targeted entity is less than 30%, the TEF funding should result in a minimum of 30% black ownership. This is an important requirement, as it ensures that the benefits of the TEF are distributed fairly and equitably among South Africans. Another requirement for TEF funding is legal registration. The enterprise must be a registered legal entity in South Africa in accordance with the relevant legislation, including the Companies Act of 1973 (as amended), the Close Corporations Act of 1984 (as amended), or the Cooperatives Act of 2005 (as amended). sefa funding

sefa funding This requirement ensures that the enterprise is operating within the legal framework of South Africa. In addition to legal registration, the enterprise must also be fully compliant with applicable laws of the country. This includes complying with the loan requirements of applicable debt providers. Each financer may have different loan requirements, so it’s important for applicants to familiarize themselves with these requirements before applying for TEF funding. The enterprise must also operate within the qualifying sectors specified by the Tourism Sector B-BBEE Sector Codes. sefa funding

These codes outline the sectors that are eligible for TEF funding, and it’s important for applicants to ensure that their activities align with the fund’s objectives and priorities. Finally, the application process for TEF funding involves two stages. In the first stage, applicants must complete and submit an application online through the SEFA website. This is an important step in the process, as it allows the TEF to evaluate the enterprise’s eligibility and determine whether it meets the necessary requirements for funding. Overall, there are several requirements that an enterprise must meet to qualify for funding from the Tourism Equity Fund. sefa funding

These requirements ensure that the benefits of the fund are distributed fairly and equitably among South Africans, and that the enterprise is operating within the legal framework of the country. By meeting these requirements, eligible enterprises can access the funding they need to grow and succeed in the tourism sector. When it comes to financing, it is important for applicants to choose a financier that suits their needs the best. While there are various financiers available in the market, it is crucial for applicants to meet the application requirements of the respective financiers chosen. sefa funding

sefa funding This is because different financiers have different criteria for lending money, and applicants must comply with them to be considered for financing. Once applicants have selected their financier of choice, they will move on to the pre-screening stage. During this stage, applicants will be screened against the qualifying criteria and eligibility. This is done to ensure that the applicants meet the minimum requirements for the financing they are seeking. Applicants who pass pre-screening will move on to a full due diligence. At the due diligence stage, applications will be assessed for financial viability, growth, and sustainability. sefa funding

SEFA FUNDING This is a crucial stage in the financing process, as the financier will evaluate the feasibility of the application. The processes, systems, and capabilities of the applicant will be tested against the supporting documentation provided. sefa funding It is important for applicants to ensure that all the necessary documentation is in order to avoid any delays or rejections. Once the due diligence is complete, successful applications will be considered for approval. This means that the financier has evaluated the application thoroughly and is satisfied with its financial viability, growth potential, and sustainability. sefa funding

sefa funding Once approved, the financing will be granted to the applicant, and they can use the funds to achieve their financial goals. Overall, the financing process can be lengthy and complex, but it is crucial for applicants to follow the process carefully to increase their chances of success. By selecting the right financier, meeting the application requirements, and providing comprehensive documentation, applicants can secure the financing they need to achieve their financial goals. APPLY HERE

SETA TENDERS

The procurement department of the Small Enterprise Finance Agency (sefa) has recently advertised a number of tenders for various services. One of the tenders advertised is for the appointment of an Internet Service Provider (ISP) to supply and install a dedicated internet connection for the sefa Regional Office. The tender was re-advertised on 25 April 2024, with a closing date of 3 May 2024 at 11:00 AM.

This tender is important as it will provide the sefa Regional Office with a reliable and high-speed internet connection, which is essential for carrying out day-to-day operations. Another tender that has been re-advertised is for the drawing, supply, and installation of an evacuation plan for the Eastern Cape Regional Office in Mthatha. The tender was advertised on 24 April 2024, with a closing date of 2 May 2024 at 11:00 AM.

This tender is crucial for ensuring the safety of sefa staff and visitors in the event of an emergency. The evacuation plan will outline the procedures and routes to be followed in the event of a fire, earthquake, or other emergency situation. In addition to these tenders, sefa has also advertised tenders for the rendering of disinfection and sanitisation services for its Northern Cape and North West Regional Offices. Each office requires fifteen services, and the tenders were re-advertised on 24 April 2024, with a closing date of 2 May 2024 at 11:00 AM.

The importance of these tenders cannot be overstated, especially in light of the ongoing COVID-19 pandemic. The disinfection and sanitisation services will help to ensure that sefa staff and visitors are protected from the spread of the virus. Another tender that has been re-advertised is for the drawing, supply, and installation of an evacuation plan for the Bloemfontein Regional Office. The tender was advertised on 24 April 2024, with a closing date of 2 May 2024 at 11:00 AM.

This tender is just as important as the one for the Eastern Cape Regional Office, as it will also ensure the safety of sefa staff and visitors in the event of an emergency. Finally, sefa has advertised a tender for the appointment of a service provider to provide awareness training on the Prevention of Organized Crime (POCA) and the Prevention and Combating of Corrupt Activities Act (PRECCA) to sefa staff. The tender was re-issued on 23 April 2024, with a closing date of 3 May 2024 at 11:00 AM.

This training is essential for ensuring that sefa staff are aware of their responsibilities under these laws and can help to prevent corruption and organized crime within the organization. In addition to these tenders, sefa has also advertised a tender for the appointment of a service provider to provide cleaning and hygiene services for its head office in Cent Khula Business Premises (Pty) Ltd is a subsidiary of Small Enterprise Finance Agency SOC Ltd (sefa) that offers a range of services and products to support small businesses.

The company is committed to providing high-quality solutions that help small businesses grow and thrive. As part of its commitment to excellence, Khula Business Premises (Pty) Ltd is currently seeking certified partners to supply and deliver Grammarly and Adobe licenses. The company is also looking for a service provider to conduct a Customer Satisfaction Survey on its behalf. In addition, Khula Business Premises (Pty) Ltd is seeking a service provider to provide cleaning and hygiene services for its Parktown Regional Office.

The company is looking for a reliable partner that can ensure a clean and healthy work environment for its employees. Furthermore, Khula Business Premises (Pty) Ltd is seeking an annual fire equipment servicing for a period of three years at Mamelodi Industrial Park, Atteridgeville Industrial Park, Hennospark Industrial Park, Rosslyn 21, 22, 23 and Garankuwa Industrial Park. The company is committed to ensuring the safety of its employees and customers, and is therefore looking for a qualified and experienced service provider to provide this important service.

Khula Business Premises (Pty) Ltd is also seeking a service provider to supply and replace hygiene products for a period of three years at Longstreet JV in Kimberley, Northern Cape. The company understands the importance of maintaining a clean and hygienic environment, and is therefore looking for a partner that can provide high-quality products and reliable service. Finally, Khula Business Premises (Pty) Ltd is seeking built professionals to provide a turnkey solution for its Westridge Shopping Centres in Mitchells Plain, Western Cape.

The company is looking for a partner that can provide a comprehensive and efficient solution that meets its needs and exceeds its expectations. Overall, Khula Business Premises (Pty) Ltd is committed to excellence and is seeking partners that share its values and commitment to quality. The company is looking for reliable and experienced partners that can help it achieve its goals and support the growth and success of small businesses.

The Small, Medium and Micro Enterprises (SMME) Outreach Programme led by the Department of Small Business Development (DSBD) is an initiative aimed at empowering small business owners in South Africa. As part of this programme, the DSBD has identified the need for a VIP lunch to be provided for attendees who will be participating in an upcoming event. To ensure that the event runs smoothly and that the attendees are well taken care of, the DSBD has issued a Request for Quotation (RFQ) under the reference number RFQ/DSBD/0006.

The RFQ is seeking to appoint a suitable service provider who has relevant, adequate expertise, and experience to provide VIP holding room refreshments. The service provider will be responsible for ensuring that the refreshments provided are of the highest quality and meet the dietary requirements of the attendees. They will also be required to ensure that the holding room is set up in such a way that it is comfortable and conducive to networking and engagement.

This is an excellent opportunity for service providers who have a passion for providing exceptional service to showcase their skills and expertise. The successful bidder will be expected to provide a quote that is competitive and within the budget set by the DSBD. Overall, the provision of VIP holding room refreshments is a critical aspect of the SMME Outreach Programme.

It is essential to ensure that attendees feel valued and appreciated, which, in turn, will encourage participation and engagement. The DSBD is committed to empowering small businesses and believes that this initiative will go a long way in achieving this goal. APPLY TENDERS HERE