Industrial Development Corporation (IDC) - Machinery, Equipment, & Electronics

This fund aims to improve the competitiveness of upstream/downstream manufacturing of machinery and capital equipment where it can be shown that the products have the potential to expand to new markets, as well as create new jobs.

Businesses that manufacture any of the following products are eligible to apply for funding:

• Mining and power supply equipment.
  
• Earthmoving and construction equipment.
  
• Compressors.
  
• Pumps.

The fund can be applied for finance take-overs and buy-ins by historically disadvantaged partners, expansions by existing businesses or funding of small, medium and startup businesses that meet all the funding criteria.

Sector-specific focus

The IDC focuses on businesses operating in the following sectors:

• Electricity generation and distribution: transformers, generators, electricity-supply components, switch-gears and related measuring devices/apparatus.
  
• Mining, quarrying and construction: self-propelled off-road machinery and equipment for mining and construction sectors; equipment for sorting, screening, separating or washing, crushing and grinding for stones/ores and other minerals.
• Manufacture of lifting and handling equipment: cranes, lifts, elevators, conveyors; specialised parts for lifting and handling including buckets, shovels, grabs.

Eligibility criteria

The IDC gives preference to businesses that fit the following criteria:

• New or existing projects or businesses that have a significant developmental impact (e.g. rural development, empowerment, job creation, emerging entrepreneurs and black industrialists, and value addition). 
  
• Businesses that can provide security, the form and nature of which will relate to your specific circumstances.
  
• Businesses that comply with international and local environmental standards.
  
• A reasonable financial contribution from the owners of the business along the following broad guidelines, although the circumstances of each business will be carefully evaluated to arrive at an acceptable contribution level. In general, the percentages shown below apply and the IDC prefers that the loan does not exceed the business owner's contribution. 
• The project or business must exhibit economic merit in terms of profitability and sustainability.
  

Application process

Fill in their Online Contact Form. It is important to read through IDC's minimum requirements as well as the specific criteria for this fund before submitting an application as there are many restrictions and processes that you will need to take into account.