Frequently asked questions

The online system will store your information safely. You will also be given a reference number that you should use to track the status of your application.

There are procedures that are set for financial support to be provided. Once the application is received, a need analysis is made which determines the type of business, location, number of years your business has been operating, support required, and whether your business is compliant.

There is currently Community Fund, which is given to business that have been operating for six month to a year. The Township Business Revitalisation (TBR) and Cooperative Assistance Programme (CAP) for business that have been operating for two year and are in townships. These types of funding are processed at the regional Offices. Financial loans are done at the GEP Head Office.  

GEP has a Business Development Support programme that assist with the above. As we have mentioned at the beginning, any assistance requires needs analysis first to determine the relevancy of the support.

The Township Economy Partnership Fund (TEPF) is a partnership between the Gauteng Department of Economic Development (GDED), the Gauteng Enterprise Propeller (GEP) and the Industrial Development Corporation (IDC). The fund supports SMMEs in the township economy of Gauteng in sectors that include (but not limited to) Manufacturing, The Taxi Economy, ICT, Backyard Real Estate upgrading and retail.

The TEP is a fund aimed at supporting vulnerable township small businesses that are unable to access funding from private funding institutions, government and other business support programmes.

To qualify the SMME, CO-OPERATIVE OR START UP:

• must operate in Gauteng and have its head office in Gauteng
• be 100% South African owned
• be trading for over a year
• be registered with CIPC and
• be compliant with SARS
• have a valid South African identity document
• and be 100% SA owned

Priority will be given to businesses owned by women, youth, and people with disabilities.

The funding will prioritise businesses based in townships but will not exclude others.

No, but the trading or services must be in a township or directly support the township economy.

No, but the trading or services must be in a township or directly support the township
economy.

Informal traders can apply, and to qualify they must:

• Have a valid South African identity document.
• Operate in Gauteng.
• 100% ownership by a South African citizen.
• Provide bank statements to prove operations.
• Provide an original and valid trading permit (only permits or licenses issued by the municipality will be accepted, councillor letters are not valid); and
• be registered and compliant with Companies and Intellectual Property Commission and the South African Revenue Service (assistance available if not registered or compliant yet).

The loan/grant blend will be capped at R1 million for small businesses in distress and R50 000 for informal businesses.

Informal businesses may also apply.

All sectors are funded. The fund will prioritise the township-based sectors such Manufacturing, the taxi economy, ICT, Backyard Real Estate upgrading and retail.

To qualify, businesses must be at least 51% black-owned.

The taxi economy refers to all business activities that revolve around taxi commuting. These include retail, parts supply, upholstery, commuter advertising, informal trading, and other activities.

This refers to the upgrading of existing township-based rental/letting accommodation, often found in backyards but may include standalone properties. Only income-generating rentals such as student accommodation will be considered for support (not family only backyard upgrades).

Applications will be accepted until the funds are exhausted.

SMMEs, COOPERATIVES and STARTUPS will be required to submit the following:

• Certified identity document copies of directors/members.
• Business Profile.
• 3 Months Bank Statements and management accounts.
• FICA documents (e.g., Municipal accounts, letter from traditional authority).
• 6 Months Cashflow Projections – where applicable.
• Management Accounts after investment if applicable (assistance available).
• other type of documents may be required depending on the nature of the application.

Informal traders will be required to submit the following:

• A valid South African identity document.
• Bank statements to prove operations.
• Provide an original and valid trading permit (only permits or licenses issued by the municipality will be accepted, councillor letters are not valid); and
• be registered and compliant with Companies and Intellectual Property Commission and the South African Revenue Service (assistance available if not registered or compliant yet).

The TEPF will provide loan funding or blended funding, depending on the business case. Blended funding is a combination of a loan and granting funding. Each application will be evaluated on its own merits.

You can apply for up to R10m.

Each application is evaluated on its own merits.

Businesses can apply on www.gep.co.za using the GEP online application system. For enquiries, please send an email to enquiries@gep.co.za or visit GEP offices nearest to you for assistance.

This is an open-ended invitation, funds will be available on a first-come, first-served basis for those who qualify, until their exhausted?

All applications must be submitted to the GEP through the online application system or by visiting a regional office.

To apply to be a fund intermediary, send your proposal to partnerships@gep.co.za

• South African owned and registered company.
• Minimum of 5 years in operation. However, in the interest of economic empowerment and development, entities which have operated for less than 5 years may be considered. if the Applicant can, for example, demonstrate adequate governance processes, systems and processes to manage the flow of funds, relevant track record etc).
• Proven track record and capabilities in servicing the requisite target areas of the TEPF
• A proven financially sustainable business model.
• Socially and environmentally responsible – have an established Environment.
• Ability to crowd-in co-funding and leverage these partnerships -on a Rand for Rand basis.
• Contribute to building a robust, enabling, supportive and inclusive ecosystem in support of the social and township economy.
• Evidence of a strong pipeline of transactions.
• B-BBEE status level 4 and Black ownership of a minimum of 25%.
• TEP Funding must be ring-fenced from any existing business of the intermediary and should not be used to replace existing loans.
• Capital should not be pooled with other funds but be held and accounted for separately; and
• A pricing regime that advances most of the financial advantage of the TEPF funding to final beneficiaries

Investment criteria for finance from intermediaries / platform and Strategic Implementation Partners to SMME’s:

• A loan, grant or blended approach will be applied to invest in SMME’s via the TEP;
• All sectors in the economy will be considered for assistance.
• Priority will be given to businesses owned by women, youth, and people with disabilities.
• The maximum quantum for SMME funding to be considered will be R10mil .

The Gauteng Rebuilding fund specifically supports businesses affected by COVID 19 and looting/unrest.

• The applying business must be based in Gauteng.
• The business must demonstrate the ability to service the loan through a repayment plan.
• When applying for SMME relief, businesses must provide evidence that the enterprise was trading before the unrest. The evidence can include bank statements, invoices and lease agreements.
• The business should not have applied for national government insurance relief through SASRIA or other insurance.

GEP can offer microfinance, contract finance, asset finance, and term loans depending on your business needs.

Businesses can use the funding for any of the following:

• Rebuilding costs
• Funds for repairs
• Funds to replace stock or inventory
• Funds to replace equipment
• Restored access to critical supplies
• Increased business security
• Restoring infrastructure
• Funds to cover staff costs during business downtime
• Business rescue services

Blended funding refers to a combination of grant funding and loan funding. Grant funding is not repayable to GEP, while the loan component remains payable.

Qualifying small businesses from any sector can apply for funding.

The loan/grant blend will be capped at R1 million for small businesses in distress and R50 000 for informal businesses.

Informal businesses may also apply.

Decisions on funding and grants are based on:

• Availability of funds (funding will be allocated on a first-come, first-served basis until they are exhausted)
• The previous performance of the applying business
• The strength of the financial projections
• The business type and sector
• Submission and fulfilment of all legal and regulatory requirements
• Terms are determined on a case by case bases

• Business that have claimed from insurance
• Financing for normal expansions
• Payment of non-operational expenditure such as bonuses
• Financing of new enterprises

Applications will take a maximum of four weeks to be processed and finalised, provided all documents and requirements have been fulfilled and the availability of funds.

Only directly affected businesses can apply for this funding.

Applications will be accepted until the funds are exhausted.

At GEP, we can also offer you non-financial business development support that includes assistance with business registration, business planning, business expansion plans, business turnaround plans, training and many other interventions to help your business.