031 907 8911 | talktous@ithala.co.za

Business Finance

Ithala’s Business Finance Unit is responsible for facilitating the development and empowerment of KwaZulu-Natal-based business enterprises, in addition, must promote job creation in the province.

 

In meeting this objective, the unit offers a wide range of products and services, all geared to assist business owners with the necessary finance and requisite skills to operate and grow sustainable enterprises for a better business future.

Key Focus Products

Guided by the Provincial Growth and Economic Development Strategy, our activities are focused on the following  sectors :

 

- Commercial Property Finance

- Structured Finance

- Procurement

- Asset Based Finance 

- Agriculture & Agro-processing Finance

- Micro Finance

- Franchise Finance

 

Stage of Business

Maximum Limit (EDF)

Maximum Limit (IDFC Fund)

Start-up

R5 000 000

R10 000 000

Business with < 3-year history

R7 500 000

R15 000 000

Business with < 3 year but < 5-year history

R8 500 000

R20 000 000

Business with > 5-year history

R15 000 000

R35 000 000

  • Business must be registered with CIPC or properly constituted Partnership, Trust or Sole Proprietor.
  • Members/Shareholders of the business in possession of a valid SA ID.
  • The business must be SARS registered as a taxpayer and provide a valid tax clearance certificate.
  • Main business operations or primary place of business must be within KZN
  • Business impact must benefit KZN economy or people domiciled in KZN;
  • Good standing with existing creditors.
  • The business’s economic activity must have a demonstrable socio-economic impact.
  • The business or project must demonstrate financial viability.
  • The members/shareholders of the business must not be un-rehabilitated insolvent and not be under debt review or administration order
  • The business must not be engaged in any illegal
  • activity.
  • At least one partner, member or shareholder must be involved in the management of the business at senior or executive level.

FICA

X

Copy of Identity documents of all members/spouses/shareholders/directors

 

X

Proof of residential and postal address for members/shareholders/directors not older than 3 months

 

X

Proof of Business address not older than 3 months.

 

X

Proof of Telephone and Cellphone Numbers for members/shareholders/directors and for Business entities not older than 3 months. 

 

X

Marriage certificates/ANC Agreements/Divorce Orders for members/shareholders/directors

 

X

Copy of the lease agreement if property is leased or title deed if property is owned

 

Entity Documents

X

Registration certificates if business trades as Pty Ltd or Trust (CIPC Document)

 

X

Joint Venture Agreements/ Shareholders Agreements/ Member Agreements

 

X

Proof from company auditor indicating shareholding allocation/completed affidavit/share certificates

 

X

Organizational Chart and Shareholding Organogram

 

X

Relevant License/ Permits to operate in said industry

 

X

CVs on all members/shareholders/directors/key staff

 

X

Original Valid Tax Clearance Certificate

 

X

Comprehensive business plan / Business Profile

 

X

BEE Certificate

 

Financial Documents for Business being Purchased

X

Cash flow projections for 5 years, including income statement and balance sheet (first year reflected monthly)

 

X

Breakdown of income sources

 

X

Signed Personal Statement of assets and liabilities for all members/shareholders/directors

 

X

Statements at management account date for all liabilities

 

Other

X

Original completed Ithala Application forms signed by each member/shareholder/director

 

X

List of equipment to be financed and a breakdown of the utilization of the finance (2 quotations to be provided, indicate preferred)

 

X

Proof of own contribution (if applicable)

 

X

Contracts or off-take agreements (if applicable)

 

Ithala Development Finance Corporation will take all forms of security available to secure transaction at hand 

However, there is NO requirement for 100% collateral coverage;

 

  • Security shall include:

    • Security over assets financed;

    • Surety Bonds over properties

    • Cession of investments

    • Cession of income/debtors;

    • Personal guarantees from sponsors/promoters;

Business Finance Customer Journey

Enquire Property Rentals

-