COVID-19 Loan Scheme
The COVID-19 Loan Scheme is offered at the prime lending rate and will be paid in three pay-outs over three months (one pay-out per month).
The COVID-19 Loan Scheme is intended for specific operational expenditures of the business, such as salaries and wages, rental and lease payments, utilities, and supply chain costs and other operating expenses.
The government has specified that the COVID-19 Loan Scheme is available to businesses:
- with turnover of less than R300M
- that are in good standing
- that are registered with the South African Revenue Services (SARS)
- that are registered with the Companies and Intellectual Property Commission (CIPC)
- that have been negatively impacted by COVID-19
To apply please contact your Banker or call the Business Desk on 0877 362 247.