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.