Affected businesses will benefit from industrial loan support at 0% interest, to be used towards the rebuilding of infrastructure, including equipment, fittings, stock and working capital.
The department of trade, industry and competition says applications are open for a R3.75bn package for the restoration of businesses hit by the looting and unrest in KwaZulu-Natal and Gauteng.
This is part of the economic recovery support interventions announced by trade, industry and competition minister Ebrahim Patel. The department said in a statement on Wednesday that it had — with its development finance institutions, the Industrial Development Corporation and the National Empowerment Fund — collectively put together a funding package in support of various business recovery interventions.
“Part of the economic rebuilding package is a comprehensive package by the IDC that offers funding support for businesses and communities affected by the unrest to the tune of R1.5bn,” the department said.
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