Eligibility Criteria

  • Natural persons: Applicants must be South African citizens, with valid South African identity documents or naturalised South Africans as defined in terms of BBBEE Act No 53 of 2003.
  • Juristic persons: Applicants must be legally constituted including sole traders with a fixed physical address, partnerships, co-operatives, non-profit organisations that function as social enterprises, close corporations, private companies (PTY LTD) and public companies (LTD).
  • The financed operations must be conducted within the borders of South Africa, and the controlling interest (100%) of the business enterprise must be held by a South African citizen with a valid South African identity document.
  • The applicant shall ensure that the business maintains a staff complement consisting of at least 95% South African citizens with a valid South African identity document throughout the duration of the loan tenure.
  • At least one member/shareholder should be operationally involved in the business.
  • The project must demonstrate an ability to generate the level of development impact as stated in the sefa Corporate Plan such as job maintenance and/ or creation and economic empowerment.
  • The business should be sustainable and commercially
  • Viable with specific reference to loan repayability.
  • For direct lending loan facilities, qualifying criteria will be > or = to 51% black ownership.
  • Risk taking by the entrepreneur can be reflected in own financial contribution, equity andpersonal sureties.