Organisation: Industrial Development Corporation
Our goal is to develop a viable model for the clothing and textiles industry, supporting existing players to enhance competitiveness, wherever possible. Our Clothing and Textiles business unit offers support to a variety of enterprises across the industry, ranging from companies producing natural or synthetic fabrics and creating home décor, as well as those involved in the manufacture of leather goods and clothing. The projects we support must promote entrepreneurship, industrial development and strategic partnerships.
Please note that we also manage a Clothing, Textiles, Leather & Footwear Competitiveness Scheme on behalf of Department of Trade and Industry.
- Natural fibres, including cashmere, wool and mohair beneficiation;
- Synthetic fibre production;
- Spinning of yarns, knitting and weaving of fabrics;
- Dyeing, printing and finishing of fabrics;
- Non-woven textiles;
- Household textiles;
- Clothing manufacturing;
- Leather tanning; and
- Leather products.
- Manufacturers who wish to expand and/or modernise their production capacity;
- Manufacturers in distress due to global economic trading conditions;
- Entrepreneurs who wish to start up small to medium manufacturing facilities.
- Security, the type of which will relate to your specific circumstances;
- Compliance with international environmental standards;
- Relevant bargaining council compliance; and
- Shareholders/owners are expected to make a material contribution, generally 35% of total assets for going concerns and 45%-50% for start-ups, depending on the industry norms and risks involved. We prefer our exposure not to exceed that of the owners of the business. However, the contribution for start-ups with a material developmental and job creation impact may be lowered, in which case the IDC may be prepared to extend finance greater than the owners’ contribution.
- Financing fixed assets and the fixed portion of growth in working capital requirements;
- Supporting projects and/or businesses that have a high developmental impact such as rural development, empowerment, job creation, township development and value addition; and
- Supplying distress funding for troubled companies that have a clear turnaround plan.
Expansion of Existing Business:
- Latest audited and actual financials (signed by the finance director, MD or CEO).
- Your updated business plan focusing on the proposed project/expansion.
- A detailed description of the nature of expansion, its related costs and revenues.
- A comprehensive business plan
Small, Medium and Start-Up Businesses:
- A comprehensive business plan*