Business Finance

Contents Vision, Mission & Values Key Focus Products Our credit Instruments Our Pricing Lending Criteria Security Our Application Process Contact Details

Vision, Mission & Values “To be the Financier of Choice to Emerging Businesses in KZN” MISSION: “To facilitate job creation and black economic empowerment by providing financial services to SMME’s and Co-operatives” VALUES: PROSPER Passion, Respect, Ownership, Sustainability, Performance, Ethics & Relationships

Key Focus Products Guided by the Provincial Growth and Economic Development Strategy, our activities are focused on the following products : Commercial Property Finance; Structured Finance; Procurement; Commercial Asset Finance; Franchise Finance Micro Finance Agri Finance

Our Credit Instruments Debt; Equity; Hybrid;

Our Pricing Development Fund 4 – 7% fixed Commercial Fund Variable interest rate (referenced to Prime Lending Rate) Pricing – Prime plus

Our Lending Criteria Main business operation or primary place of business must be within KZN Business impact must benefit KZN; Promoters must be South African citizens, i.e. in possession of a South African ID. Projects/Business must be financially viable; Commercial Fund: 26% Black ownership or minimum Level 4 BBBEE Good standing with existing creditors or have made arrangements in place to settle adverse credit listing(s).

Security/Collateral 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; Cession of income/debtors; Personal guarantees from sponsors/promoters;

Basic Assessment Documents Application Form Company documents (CK, Memo/Articles, etc) Business Plans (Marketing, Technical, Operations, Human, Financial, Funding) and Electronic Financial Model 3-Year Audited Financial Statements / Projected Financials Key agreements/contracts (sale & purchase agreement, etc) Tax clearance certificate FICA Documents

Contact Details Address : 26th Floor, Old Mutual Mall 303 Dr. Pixley Ka Seme Street (West Street) Durban Contact Number : 031 372 1200

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