nefcorp.co.za : Apply for National Empowerment Fund

Organisation : National Empowerment Fund Trust
Type of Facility : Apply for National Empowerment Fund
Head Office : Gauteng

Website : https://www.nefcorp.co.za/
Application Form : https://www.southafricain.com/uploads/1410-NEFApplication.pdf

How To Apply For National Empowerment Fund?

Follow the below steps to apply for National Empowerment Fund (NEF)

NEF Fund : R250 000 – R75 million

NEF Application Form :
** Please complete this application in full with all the required information, including a comprehensive business plan proposal and the required financials as described below.

Related / Similar Facility : NEF Women Empowerment Fund (WEF)

** Where the information requested is not applicable please write “Not Applicable” or “N/A”.

** Incomplete applications will not be accepted.
** All business plan proposals declined by the NEF or withdrawn by the applicant, will not be kept on our records, please do not submit master/original documents.

** This Form Is Free And No Fees Are Payable To The Nef Or Any Other Persons For The Completion Or Assistance With This Application Form

Completing the application form :
** Having read and understood how the NEF is structured to assist black entrepreneurs and businesses, the next logical step is to do a self-needs analysis to see how the NEF is able to assist you and your business needs.

** To engage them is as simple as taking the first step of filling in an application form that will present your business case for assessment based on the criteria described above.
** Your proposal needs to contain comprehensive information to support the commercial viability and the financial position of your business.

** A business plan guideline has been provided on the application form, to highlight the various topics you need to cover when making your submission.

Checklist of National Empowerment Fund

Followings are the checklist to apply for National Empowerment Fund (NEF)

1. Application form and Business plan
2. Affidavit from members or directors that they are aware of the contents of the application form
3. Three (3) year audited financials (Income Statement, Balance Sheet, Cash Flow Statement)
4. Five (5) year financial projections (Income Statement, Balance Sheet and monthly Cash Flow Statement) with first year prepared on a monthly basis
5. Recent management accounts (Income Statement and Balance Sheet)
6. Personal Statements of Assets and Liabilities of all the members or directors including those of spouses if person is married in Community of Property
7. Business bank statements for the past twelve (12) months
8. Certified ID copies of all members or directors
9. Registration Documents and all the relevant legal documents relevant to the entity
10. Detailed profile of the Franchisor
11. Details of why the business is for sale
12. Sale Agreement
13. Franchise Agreement
14. Historical financials of other franchises that are similar in size and in similar locations
15. Indication from the Franchisor of how much a new Franchise in a similar location would cost

16. Indication of whether the lease agreement will be ceded to the new company after the sale or a new lease agreement will be signed If lease is ceded, how long will it still run for before renewal? New lease if it is a new franchise.

17. The prospective buyer must have been approved by the franchisor
18. Fica compliance – Proof of residence
19. Detailed CV of principle Applicant

NB :
• An Application Will Be Rejected If You Do Not Submit All The Documents As Per The Above List And Guidelines.
• Provide All Other Documents Relevant To Your Business Not Listed Above.
• Our Application Process Is Approximately 3 To 4 Months From The Receipt Of The Application Up To Disbursement Stage.

Contact Address

Head Office :
Gauteng Province :
West Block,
187 Rivonia Road,
Morningside 2057,
PO Box 31,
Melrose Arch,
Melrose North 2076
Tel: +27 (11) 305 8000
Fax: +27 (11) 305 8001
Call Centre: 0861 843 633 | 0861 (THE NEF)
Email : applications AT nefcorp.co.za (Funding) | info AT nefcorp.co.za (General Enquiries)

Eastern Cape Province :
7b Derby Road, Berea,
East London 5241
Tel: (043) 783 4200 | 0861 NEF ECP (0861 633 327)
Fax: 0861 ECP NEF (0861 327 633)
Email : easterncape AT nefcorp.co.za

Free State Province :
34 Fountain Towers,
Corner Zastron and Markgraaf Street,
Westdene, Bloemfontein, 9300
Tel: (051) 407 6360 | 0861 NEF FSP (0861 633 377)
Fax: 0861 FSP NEF (0861 377 633)
Email : freestate AT nefcorp.co.za

KwaZulu-Natal Province :
Smart X – Change Building,
5 Walnut Road,
Durban, 4001
Tel: (031) 301 1960 | 0861 NEF KZN (0861 633 596)
Fax: 0861 KZN NEF (0861 596 633)
Email : kzn AT nefcorp.co.za

FAQ On NEF Trust

The National Empowerment Fund Trust (NEF) is a financial institution established by the South African government to provide financial and non-financial support to black-owned businesses and enterprises. Here are some frequently asked questions (FAQ) about the NEF Trust:

What is the NEF Trust?
The NEF Trust is a legal entity established under the National Empowerment Fund Act, which operates as the investment arm of the National Empowerment Fund. The Trust provides funding to black-owned businesses and enterprises, with a particular focus on start-ups and early-stage businesses.

What types of funding does the NEF Trust provide?
The NEF Trust provides a range of funding options to black-owned businesses, including equity funding, loans, and guarantees. The funding is aimed at supporting start-ups and early-stage businesses in various sectors of the economy.

How does the NEF Trust select businesses for funding?
The NEF Trust has a rigorous selection process that involves assessing the viability and potential impact of the proposed business or project. The Trust considers a range of factors, including the management team, the business model, the market opportunity, and the social and economic impact of the proposed investment.

Additional Simplified Procedure

Here are the steps on how to apply for National Empowerment Fund (NEF) online:
1. Go to the NEF website: https://www.nefcorp.co.za/.
2. Click on the “Apply for Funding” tab.
3. Select the “Online Application” option.
4. Enter your personal information, such as your name, ID number, date of birth, and contact details.
5. Enter your business information.
6. Upload a copy of your ID document, business registration certificate, and financial statements.
7. Click on the “Submit” button.

Once you have submitted your application, you will receive an email confirmation with your NEF application number. The NEF application period is usually from January to December. The application fee is R500 for South African businesses and R1000 for international businesses.

Here are some additional tips for applying for NEF online:
** Make sure you have all of your required documents ready before you start the application process.
** Read the application form carefully before you submit it.
** Make sure you upload clear and legible copies of your documents.
** If you have any questions, you can contact NEF customer service.

Here are some of the benefits of applying for NEF funding:
** You can access funding to grow your business.
** You can get support from NEF’s team of experts.
** You can be part of a network of black-owned businesses.

Here are some of the risks of applying for NEF funding:
** Your application may be rejected.
** You may have to repay the funding with interest.
** You may have to meet certain conditions, such as hiring black employees.

Note:
Overall, applying for NEF funding is a good way to access funding to grow your business. However, it is important to be aware of the risks involved and to make sure that you meet the eligibility criteria.