SP Impact Fund is focused on systematically assisting majority black owned SMMEs in the construction sector and offers financial and non-financial support services.<\/p>\n<\/h1>\n
We provide equal opportunity for all black owned and managed SMMEs when it comes to accessing finance, business management training, on- the-job technical training, access to markets, and procurement of materials and supplies.<\/p>\n<\/div>\n
Our offerings are tailored to address these challenges in ways that can make a measurable difference towards the profile desired for this sector.<\/p>\n
We apply a refreshing method towards funding in comparison to the more traditional avenues for financial and non-financial support.<\/p>\n
Although there are numerous entities playing a role in the value chain of SMME funding, or SMME training, etc, there is not an entity, at least to our knowledge, that integrates funding, with training and mentoring, and business development, and access to market, and compliance support, like SP Impact Fund. Our integrated support to SMMEs is our strongest competitive advantage and offers the sustainability SMMEs so badly need for their success.<\/p>\n<\/div>\n
SP Impact Fund (the Fund) provides funding for the following<\/p>\n
No, the funding provided does not require collateral, however, to be eligible, applicants must meet the Fund\u2019s selection criteria as specified.<\/p>\n<\/div>\n<\/li>\n
This varies and depends on the nature and complexity of the funding requirement. However, should all of the application and compliance requirements be met, the standard turnaround time is typically no more than one month of receipt of the completed application with supporting documentation.<\/p>\n<\/div>\n<\/li>\n
Depending on the form of funding, SP Impact Fund\u2019s model is based on short repayment cycles which range between 30 to 180 to 12 months. Typically, our loans are structured around a maximum repayment period of one year depending on the funding type.<\/p>\n<\/div>\n<\/li>\n
SP Fund provides financial products at concessionary rates and with no collateral requirement. Also, the Fund approaches each application on its merit applies the right model so as to establish a transaction that does not hinder the SMME in achieving his project milestones and objectives.<\/p>\n<\/div>\n<\/li>\n
Yes, this is a requirement. Funding will only be disbursed to an SP Impact Fund regulated account.<\/p>\n<\/div>\n<\/li>\n
In line with its Risk Management and Credit Control policies, the Fund insists on ring-fenced bank accounts that are ceded to the Fund until such time that the loan is fully paid. The bank accounts are opened in the name of the participating SMMEs with SP Impact Fund confirmed as a signatory.<\/p>\n
The ring-fenced accounts are used exclusively for receiving and distributing funds that are received from the paymaster \/ main contractor or used to pay suppliers for goods and services.\u00a0 Funds received in the account not related to the project funded by us, will be treated as non-related and will be distributed to the SMMEs nominated business bank account.<\/p>\n<\/div>\n<\/li>\n
The Fund is responsible for the bank fees on the account until the project is concluded. The SMME will be responsible for the fees should they which to take over the said account.<\/p>\n<\/div>\n<\/li>\n
No, unless it becomes necessary. Its involvement is limited to a support and advisory role. A Project Manager (PM) is assigned to each project and works with the Management for the duration of the project.\u00a0 The PM is assigned at the initial stages of the application and will assist the applicant throughout the process.<\/p>\n<\/div>\n<\/li>\n
This depends on the nature of non-financial support, however, should the intervention fall outside the standard scope of non-financial services of the Fund, the applicant will be required to pay toward that service.\u00a0 Depending on the speciality and technical content of the intervention, the Fund may consider a subsidy towards the cost.<\/p>\n<\/div>\n<\/li>\n
SP Impact Fund will still provide whatever assistance possible to enable SMMEs to achieve compliance. Each case is afforded the Fund\u2019s full attention and assistance.<\/p>\n<\/div>\n<\/li>\n
This is a fundamental condition for approval.<\/p>\n<\/div>\n<\/li>\n
The PM assigned to you will work with you to determine exactly what the training needs are for yourself as the business owner as well as for your employees.\u00a0 This needs analysis will result in a training programme over a specific period.<\/p>\n<\/div>\n<\/li>\n