Amavulandlela Funding Scheme Application 2022 for South Africans with Disability

Amavulandlela Funding Scheme Application 2022 for South Africans with Disability

Applications are invited from suitably qualified and eligible South Africans living with disability who wish to enter the mainstream economy to apply for the 2022 Amavulandlela Funding Scheme.

About Amavulandlela Funding

Established solely for entrepreneurs with disabilities in response to high levels of poverty and unemployment in this community, the Amavulandlela Funding Scheme offers South African persons with disabilities an opportunity to enter the mainstream economy by accessing credit facilities ranging from R50,000 to a maximum of R15 million to build qualifying entrepreneurial enterprises so as to ensure people in this category access fundamental social and economic rights.

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Eligibility Criteria

This funding is open to Small and medium-sized enterprises, including close corporations and companies, and cooperatives with at least 50+ 1% ownership by entrepreneurs with verified disabilities.

• The entrepreneur must be operationally involved in the daily running of the business
• Existing businesses seeking to expand are the preferred funding candidates, but start-ups with merit may also be supported
• Funding should preferably be used for the fulfillment of orders or contracts
• Financing applications must have economic merit (financially sustainable and technically feasible)

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Benefits of the Funding

• The scheme will offer entrepreneurs with disabilities the standard credit facilities ranging from R50 000 up to R15-million at a preferential fixed interest rate of prime minus 5% per annum
• Repayment terms for facilities will be up to 60 months. The actual loan duration will be subject to the projected cash flows of the business
• Normal sefa administration fees will apply

Other Benefits

• Pre-approval assistance (if required)
• Up to 5% of the local intended investment but not exceeding R75 000
• Targeted assistance to bring the application to a bankable stage, including mentoring, technical assistance, sourcing, and negotiating with a suitable supplier
• Will be recovered from the applicant by means of a loan and it shall have a moratorium of 3 months after disbursement (if the loan application has been approved)

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Businesses Not Eligible to Apply

These businesses are not allowed to apply for this funding opportunity;

• Labour brokers
• Manufacturers or sellers of ammunition
• Tobacco, liquor, gambling, or sex trade businesses
• Non-profit organisations
• Political organizations
• Persons under debt review
• Unrehabilitated insolvent shareholders and/or directors of applying entities
• Primary agriculture (except cash crops, and the applicant must have an offtake agreement in place)
• Property development

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How to Apply

Interested and eligible South Africans should submit their application online by following these steps;

1. Draft the business plan or proposal
2. Complete the sefa application form which can be accessed on this link
3. Submit your business plan and the completed sefa application form and supporting documentation to your nearest sefa access point, or email it to [email protected]

Application Deadline

No deadline is stated for this scheme.

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