Business Funding Opportunities – Lulalend Business Funding, Apply Now
The challenge of most business owners in South Africa is access to business funding and this challenge is not unique to South African-based businesses alone but is more of a global problem but the impact seems to be more in African countries.
In this article, we will be focusing on business funding opportunities for South Africans including lulalend business funding, IDF Capital, KZN Growth Fund, and other verified funding opportunities for businesses.
Lulalend Business Funding
Lulalend offers business owners the opportunity to get from R10,000 to R5,000,000. The confidence of Lulalend in small startups’ ability to make a difference by developing better solutions and aiming for greatness. With lulalend business building, you can apply for a loan in a few minutes and receive funding in hours without the stress of paperwork, no hidden fees, and no branch visits. You can try out their service today by visiting their online portal here to apply for funding
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KZN Growth Fund
Established in 2008 by the KZN Department of Economic Development, KZN Growth Fund (KGFT) is structured as a unique public-private partnership venture to finance medium to large private sector projects. The main stimulus is to co-fund and or fund catalytic investments within impact industries as governed by KGFT’s mandate and investment policy.
Since its creation, the KZN Growth Fund has disbursed almost R1 billion to fund several projects and you can apply for funding by completing the funding application form available on their website here
National Youth Development Agency Grants – Business Funding Opportunities
The NYDA Grant Program is one of the most popular funding programs in South Africa this is because the program is meant to give young entrepreneurs access to both financial and non-financial business development assistance in order to help them start and grow their firms.
This program focuses more on young entrepreneurs who are in their early stages or those in their promising phases.
To get access to funding through this program, young people are encouraged to submit their business proposals. Those whose proposals qualify for the Grant Program will also get non-financial help from the NYDA, based on their unique business requirements.
Read also: Coca-Cola Foundation Grants
Small Enterprise Finance Agency
The Small Enterprise Finance Agency (SEFA) offers development finance to SMMEs and Co-operatives who are not able to attract commercial credit. sefa is committed to providing these entities with the best service and expertise and strives to do so in innovative and creative ways.
- Services (including retail and wholesale trades and tourism)
- Manufacturing (including agro-processing)
- Agriculture (specifically land reform beneficiaries and contract-farming activities)
- Construction (small construction contractors)
- Mining (specifically small-scale miners)
- Green industries (renewable energy, waste, and recycling management)
You can apply for funding by visiting the SEFA website if your business is under any of the above categories
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IDF Capital
IDF Capital strives to be more than any typical African company. Its mission is to become an economic growth accelerator across Africa by providing assistance to individuals on their business journeys. The company uses its experience and understanding of the African market to provide entrepreneurs with the boost they need to develop into operationally and financially independent entrepreneurs. More information and application is available here
VodaLend Business Funding (Vodacom Financial Services)
VodaLend is a Vodacom business lending program for South Africans. Through this program, Vodacom provides financial assistance to small enterprises in South Africa, plus a better repayment plan than most banks including other free benefits. This service is available to a licensed small business that has been in operation for a short period. You can check their website to know if your business is eligible.
National Empowerment Fund (uMnotho Fund)
The uMnotho Fund offers 5 key funding opportunities and they include; Acquisition Finance, Project Finance, Expansion Finance, Finance Markets Fund, and Liquidity and Warehousing fund. The aim is to expand access to BEE capital. This program gives funding to black-owned and managed firms; black entrepreneurs buying equity shares in established black and white-owned businesses; new ventures; expansion of existing businesses; and BEE businesses that are or want to be published on the JSE. If you are interested in this funding opportunity, then you can apply for their funding program through their official website here https://www.nefcorp.co.za/
If your business has gotten access to the needed finance and you wish to train your staff or get more skills or learn more about the business from individuals who are already in the business, you can apply for SETA.
Read also: Vodacom Bursary Programme
How can Seta help my business?
SETAs develop sector skills plans that cover the entire economy, and they implement the plans by promoting and funding learnerships, apprenticeships, skills programs, bursaries, and internships. The SETA should also be monitoring and reporting on all training within the sector.
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