NEF Furniture Industry Fund is Still Open

Dear Successful Entrepreneur!

The NEF opened a furniture fund for a maximum of R5 million per transaction.

Criteria

• Be a registered legal entity in South Africa in terms of the Companies Act, the Close Corporations Act, and others.

• Be a taxpayer in good standing with SARS.

• Ensure that current employment is maintained.

• Ensure that raw materials are sourced from local suppliers, and where it is not possible, supporting documentation should be provided.

  Operate in the following furniture sub-sectors:

• Mattresses and base components, Lounge and upholstered goods,

• Case goods – items of furniture-based onboard products such as cupboards, tables, pedestals, display and storage units,

• Kitchen and built-in units, and

• Any other furniture-related business including school furniture.

The Fund targets mainly SMEs. The businesses will be supported if:

• They meet the NEF’s financial, marketing, technical, and environmental requirements, Jobs will be retained or created through the funding,

• All types of enterprises will be supported including start-ups, expansions, and expansionary acquisitions,

• The funding can be in the form of debt or equity,

• The interest will range from 0% to 5%, and The maximum repayment period of the funding is up to 84 months.

  The funding will be available for all aspects of businesses operating in the Furniture Industry including funding for equipment and expansion finance, funding for quality assurance and environmental requirements as well as working capital.

If you need any further advice, a business plan, or support with the application process, don't hesitate to contact us by replying to this email!

To Your Success

Your Funding Connection Team

Landline: +27 (0)31 761 8677 or Cellphone +27 (0)64 550 7052

Headquarters: 2 Old Main Road, Hillcrest Office Park, Hillcrest, KZN 3610

Satellite Offices: Johannesburg, Benoni, Soweto, Empangeni, Cape Town, Somerset West, Port Elizabeth, East London and more to come