Mpumalanga Economic Growth Agency (MEGA) - SMMEs and Co-operatives

Mpumalanga Economic Growth Agency (MEGA) provides finance to small, medium and micro-enterprises and co-operatives that operate in Mpumalanga. Preference is given to previously disadvantaged business owners who may not meet the requirements of commercial lenders. They have a strong bias towards funding projects that create employment.

MEGA will work with the business owner to, as far as is possible, customise the funding instrument to suit the business operations. 

They provide funding from R10 000 to R1m using one of the funding instruments below:

• Seasonal loans - seasonal repayment terms.
• Livestock loans (poultry, piggery etc) - repayment term of three to eight years.
• Revolving credit facility - repayment term of twelve months.
• Equity funding - repayment term based on the duration of the contract.
• Guarantee - repayment term based on the duration of the contract.
• Business loans - repayment term of ten years.
• Bridging loans - repayment terms based on the duration of the contract period.

Eligibility criteria

• Enterprising individuals who are 18 years and older, preferably from a historically disadvantaged background, are considered.
  
• The business must be located in the Mpumalanga province.
  
• The business must be registered as a close corporation or (Pty) Ltd or a co-operative.
  
• It is recommended that applicants should fall within the priority sectors.
  
• The applicant must operate the business on a full-time basis. Where the business is owned by more than one shareholder, one member must be involved in the business in a full-time capacity.
  
• The business must have a BEE shareholding of at least 25.1%.
• Your business is viable with good prospects of profitability.
• You have a reasonable credit record.
• You are able to table a minimum financial contribution of 10 % (assets can be considered as financial contribution).
• Neither you or your business has been put under judicial management

Application process

Download the application form here. Contact them if you need assistance in completing the form.