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IDC offering credit line to NBIs

8th December 2022

By: Tasneem Bulbulia

Senior Contributing Editor Online

     

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The Industrial Development Corporation (IDC) is inviting experienced non-bank intermediaries (NBIs) to apply for lines of credit.

It says NBIs that apply must have proven capacity and capability to on-lend to black-owned small and medium-sized enterprises (SMEs) and small businesses.

The objective is to improve access to funding for black-owned SMEs and small businesses with the aim to positively impact job creation; township or rural-based entrepreneurs; township or rural-linked entrepreneurs; and women- and youth-owned businesses, the IDC outlines.

Minimum funding offered by the IDC is R50-million per NBI with an indicative maximum funding of R250-million.

A webinar will be held on December 9 from 10:00 to 12:00 to address any questions, accessible at https://www.idc.co.za/call-for-nbi/.

Applications and all required documents and completed annexures can be sent to nbiapplication@idc.co.za.

The closing date for applications is December 20 at 17:00.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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