Can I apply for funding if I am not yet registered?
Yes you may, however, one of the NEF funding conditions is that disbursement will only be made upon registration of a legal entity. The NEF will support Close Corporations (CC) and Private companies( Pty) Ltd.

What happens if I am credit listed, does the NEF do credit reference checks on the applicants?
One of the due diligence processes involves the performance of an ITC check, this will reveal reasons for listings, the materiality of the amount and if this can be remedied. It is in the applicants’ best interest to resolve these issues prior to approaching the NEF.

What level of assistance can I expect from the NEF with regards to establishing myself as an entrepreneur?
The NEF will offer funding once the applicant has submitted a comprehensive business plan, (on our request*). For other types of assistance pertaining to company registrations, drawing up of business plans; business advisory services and market research, please refer to the attached list.

After I have read about and understood the NEF products and services, what do I do?
For any type of funding applications under the GES applicants are required to fill in an application form after having read the 6 step self assessment process. The application form serves as a screening document before we can request you to submit a comprehensive business plan.

Is there a limit to the number of ventures that the NEF will fund per individual?
The NEF can only logically fund only one transaction per individual, because of the funding criterion that requires operational involvement and commitment from all of the applicants.

How is the NEF different from the commercial banks with regards to interest payable and loan payment terms and conditions in the event of debt funding?
We may not require security or collateral in the form required by banks, but we can ask entrepreneurs to contribute towards the transaction. Our interest rate structure also differs from what the banks will charge depending on the level of funding and the fact that, the NEF will in most cases, bear higher risk provided the return is also higher.

Do I need to have some sort of security if I want funding?
Not necessarily, other contributions that can add value to the transaction will be viewed favourably e.g. industry experience and the quality of the transactions being funded.

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