Small, medium and micro-sized enterprises (SMMEs) have been gravely affected by the Covid-19 coronavirus, which has been evident in their efforts to seek relief funding.
Only three days after billionaire businessperson Johann Rupert’s R1 billion Sukuma Relief Programme officially opened, applications have exceeded the available capital.
According to Ben Bierman, managing director at Business Partners, the majority of applications received included completed applications and applications in progress. “The high number of applications that the programme received over the past weekend as well as on [April 6] is indicative of the crippling impact that the Covid-19 crisis is having on South African SMMEs.”
Bierman said the financial aid and assistance would comprise grants and low-interest-bearing loans with a 12-month repayment holiday.
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