KZN Growth Fund - Growth Fund

The KZN Growth Fund's mandate is to support sustainable growth in KwaZulu-Natal by financing private sector projects that drive economic success, stimulate job creation, promote broad-based black economic empowerment (B-BBEE) and reduce inequality.  The minimum loan amount is R30m and the loan term ranges from five to nine years.

The KZN Growth Fund does not fund startups, acquisitions or working capital requests. 

Sectors that are funded:

• Tourism.
  
• Power and energy.
  
• Transport and logistics.
  
• Manufacturing.
  
• Health and education infrastructure.
  
• Telecommunications.
  
• Mining and mineral beneficiation.
  
• Agro-processing.

Eligibility criteria

• Your business must be able to provide proof of your contribution to the costs of the project.
  
• The minimum loan you require is required is R30m.
  
• The project must show the impact it will have on job creation and its sustainable economic impact in KwaZulu-Natal.
  
• Minimum of 40% B-BBEE ownership or a score of at least 65 (level 4).
  
• Projects must be at an advanced stage of implementation.
  
• You need funding for Capex (capital expenditure)
• BEE shareholders must be operationally involved in the business.
  
• Strong management team with the expertise and experience to implement the project successfully.
  
• Proven profitable trading history.
  
• Proof that the business will be able to repay the loan within the contract terms.
• Equity contribution of the promoter subject to cash flows and capital structure (minimum 10%).

Application process

You can get in touch with the KZN Growth Fund Trust before preparing a formal application. The Online Application Form can be filled in once they advise you whether the parameters of your proposal are consistent with the KGFT criteria.