Many SMME’s face the challenge of gathering capital to start and/or expand their businesses. SMME loans from the government can be a cost-effective means to get the funds you need, but there are important things to consider on the way – such as being prepared for a lot of paperwork, strict selection criteria, and a very long wait. Most loans for business come through Government Funding or Non-repayable Business grants. These loans tend to offer comparably lower interest rates to financial institutions, and have longer or more flexible repayment terms. Business grants are not repayable. Businesses that receive a loan from the government are still required to repay the loan in the same way they would if receiving finance from a bank. The difference is that interest rates are much lower and repayment terms longer or more flexible.
Some requirement to qualify for a business loan and/or non-repayable grants are:
- A registered legal entity (we can help you choose & register the right one)
- A premises identified to house your new business
- Quotes on your setup or expansion
- To improve social impact in the form of job creation and economic empowerment.
At DTC we understand the complexities of the various funding agencies and the unique application criteria for each. We have assisted thousands of entrepreneurs through the application process to access funding for businesses, and we can assist you with the same. DTC has SA’s largest network of funders that includes venture capital companies, government funds, private equity funds, banks, angel investors, BEE grants & initiatives, Silicon Cape investment companies and crowd funders. We assisted businesses since 2006 in accessing over R4,8billion in funding and/or non-repayable grants and we offer national assistance.