Posts tagged: south african institute of chartered accountants

(Sefa) Small Business Loans

Small Enterprise Finance Agency (Sefa) Small Business Loans

 

With grate news and enthusiasm for Small Business owners and entrepreneurs looking for small business loans it was reported in the local newspaper that the following various spheres of government and their agencies would work together to fast track job creation and grow the economy .Minister Ebrahim Patel announced a major deal with China , an expanded mandate for the Industrial Development Corporation (IDC) including the  launch of a new subsidiary –The Small Enterprise Finance Agency  (Sefa) , which will focus on providing small businesses loans

Finance  Loans

Finance Loans

.He reported the agency would have in the region of  R2 billion in the lending kitty provided by fiscal transfers and reserves and just short of a R1 billion Rand shareholder loan from the IDC . In addition , the IDC had issued a R4 billion Rand jobs bond to promote lending to companies in a bid to boost job creation .It

Was reported that Sefa would use the national footprint of the S A Post Office to conduct its business through Postbank . The Sefa Small business loans provided would be up to an initial threshold of 3 Million , as part of the state support initiative for small businesses , some 100 accountants would be made available by the South African Institute of Chartered Accountants to small businesses and black owned enterprises . They would either work directly with the businesses or be a part of two hubs – one in Pretoria and another in Bloemfontein to be tapped into by small businesses.