NEF iMbewu Entrepreneurship Finance

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Organisation: National Empowerment Fund

The iMbewu Fund is designed to support black entrepreneurs wishing to start new businesses as well support existing black-owned enterprises with expansion capital. The Fund supports these entities by offering debt, quasi-equity and equity finance products with the funding threshold ranging from a minimum of R250 000 to a maximum of R10 million.

 

The Entrepreneurship Finance product is aimed at providing startup and expansion capital to new and early-stage businesses that are owned and managed by black people.

Qualifying Entrepreneurs/Businesses:
  • BEE applicants should be actively involved in the day-to-day management of the business
  • Minimum black ownership of 50.1% is a requirement
  • Business and/or industry experience by black entrepreneurs is also considered
  • The NEF reserves the right to oblige applicants to participate in the NEF mentorship programme where there is lack of business and/or industry experience
  • The business should be able to repay NEF’s investment
  • Funding instruments include term-loans, shares and other structures with ordinary share characteristics
  • NEF funding is charged at prime linked interest rates
  • Businesses must have a clear value-add with a sound business case
  • Maximum NEF funding is R10 million
  • The NEF will exit from the investment in 5 to 7 years
Documentation:
 
Start-Up Business
  1. Application form
  2. Business Plan
  3. Five(5) year financial projections (Income Statement, Balance Sheet and monthly Cash Flow Statement) with first year prepared on a monthly basis
  4. Personal Statements of Assets and Liabilities of all the members or directors including those of spouses if person is married in Community of Property
  5. Certified ID copies of all members or directors
  6. Registration Documents and all the relevant legal documents relevant to the entity
  7. Fica compliance – Proof of residence
  8. Detailed CV of principle Applicant
Existing Business
  1. Application Form
  2. Business Plan
  3. Affidavit from members or directors that they are aware of the contents of the application form
  4. Three (3) year audited financials (Income Statement, Balance Sheet, Cash Flow Statement)
  5. Five (5) year financial projection (Income Statement, Balance Sheet and monthly Cash Flow)
  6. Recent Management accounts (Income Statements and Balance Sheet)
  7. Personal Statements of Assets and Liabilities of all the members of directors including those of spouses if person is married in Community of Property
  8. Certified ID copies of all member or directors
  9. Registration Documents of all the relevant legal document relevant to the entity
  10. Fica compliance – Proof of residence
  11. Detailed CV of principle Applicant*
*www.nefcorp.co.za
Offices – All 9 Provinces
Application Process – Physical or Email(applications@nefcorp.co.za) Submissions

Contact Details

Website: http://www.nefcorp.co.za
Telephone: 0861 843 633
Email: info@nefcorp.co.za
Related Documents:
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