Tourism Relief Fund launched by Business Partners

Business Partners has launched a new Tourism relief fund. Please see attached brochure with all details.  

The new fund specifically focuses on relief funding for Tourism/ Hospitality businesses due to the negative impacts resulting from COVID 19 lockdowns. As part of the TBCSA, we believe that there is a lot of synergy with Business Partners and that you will have many members of your association that could benefit from this program.

Please can you distribute this email and attached brochure to your members who you believe could benefit from this relief.

Some of the details of the deal:

  • A term loan ranging from R250 000 to R2 million
  • 60-month deal, first 6 months no interest is charged, only interest payable month 7-12 and then the full instalment from month 13 -60.
  • Prime interest rate
  • A grant of the lower of 20% of the loan amount limited to R200 000
  • No collateral
  • No admin or raising fees
  • Shareholders & directors to sign a personal surety limited to 120% of the loan

This is specifically to assist tourism/ hospitality businesses who are struggling due to covid and require financial assistance to cover the following:

  • Debt obligations (mortgage bond instalments) on capital assets
  • Rent
  • Salaries and wages
  • Other overheads
  • Working capital needs

Application requirements:

  • Only online applications via the online application platform will be accepted – a link with an invite will be sent to the applicant
  • A viable, solvent business pre- COVID evidenced by signed off financial statements
  • Annual financial statements for the financial period ended 28 February 2021 and February 2022 , signed off by a professional accountant.
  • Management accounts for the period ending at least within 3 months of the application date
  • Breakdown of the employee profile by race and gender (to measure development impact)
  • Submission of the last 3 months bank statements 
  • Submission of a rent (premises) statement, not older than 3 months.
  • Submission of the statements for any other credit agreements such as asset finance or trade finance loan agreements not older than 1 month.
  • Statement of assets and liabilities for the main entrepreneur/s
  • Confirmation of tax registration
  • Copy of the marriage certificate and ANC contract if applicable
  • CIPC confirmation and printout to confirm private company (which must be directly held by natural persons), close corporation and shareholding and member details.

Download brochure:

You are welcome to contact me with any questions on 0604815481 or ndlamini@businesspartners.co.za

Nonhlanhla Dlamini