Alternative Funding
Information contained in these articles is based on latest information from the relevant departments. We encourage you to check regularly for updated communication from the government as the situation continues to evolve.
Information contained in these articles is based on latest information from the relevant departments. We encourage you to check regularly for updated communication from the government as the situation continues to evolve.
The submission of the SME Assessment will be used as an application for SAFT funding as well as various other relief measures offered by FNB and other providers.
Your submission will be assessed against set criteria and if your businesses meets these criteria, we will process your application for the applicable relief initiative.
A: The SME Assessment can be found on the FNB App or once you've logged into your banking profile on the FNB website. From the app, or once logged in on your profile on the website, click the COVID-19 icon > For my business > SME Assessment
A: We need additional information from our clients to assess how we can help them during COVID-19 with specific reference to Alternative Funding. We will review and assess each application to determine how best to help clients.
A: We cover the following topics in the assessment:
A: FNB will be communicating with clients on an ongoing basis via SMS, email and push notifications messages on the FNB App.
A: We have an expert team who will review and assess every application individually to determine how we can best help each client.
In response to COVID-19, and with the aim to mitigate the immediate economic impact, the Oppenheimer family had pledged R1 billion to extend a financial lifeline to employees of South African small, medium and micro-sized enterprises (SMMEs) and FNB assisted as an agent of the South African Future Trust.
Due to the overwhelming number of applications for SAFT funding, our portion of the fund is now fully subscribed. Funding was provided to businesses on a first come, first served basis. Unfortunately, we are unable to process any more requests for SAFT funding. Should further funds become available, we will re-evaluate and be in touch with applicants.
Other relief measures remain available to qualifying clients, please visit the FNB App, or our website and select COVID-19 for more information.
The submission of the SME Assessment will be used as an application for SAFT funding as well as various other relief measures offered by FNB and other providers.
Your submission will be assessed against set criteria and if your businesses meets these criteria, we will process your application for the applicable relief initiative.
A: The SME Assessment can be found on the FNB App or once you've logged into your banking profile on the FNB website. From the app, or once logged in on your profile on the website, click the COVID-19 icon > For my business > SME Assessment
A: We need additional information from our clients to assess how we can help them during COVID-19 with specific reference to Alternative Funding. We will review and assess each application to determine how best to help clients.
A: We cover the following topics in the assessment:
A: FNB will be communicating with clients on an ongoing basis via SMS, email and push notifications messages on the FNB App.
A: We have an expert team who will review and assess every application individually to determine how we can best help each client.
In order to minimise the loss of jobs during COVID-19, the government will be expanding the Employment Tax Incentive (ETI) Programme for a period of 4 months, from 1 April 2020 to 31 July 2020 for all private sector employees earning less than R6500 per month.
The expansion includes:
The expansion includes:
Changes will be in effect as from 1 April 2020.
For further information, please go to
https://www.sars.gov.za/Due to COVID-19 non-essential companies had to shut down, with many not able to pay their employees during the shutdown period. The TERS scheme has been created to assist companies to pay their employees.
A business that needs to close its operations for a period of three months or less due to COVID-19 will qualify for the TERS benefit, provided that:
Prior to application, please ensure the following documents have been prepared. All documents submitted will be subject to verification:
To apply, send a request to Covid19UIFclaims@labour.gov.za.
You will receive an automated response outlining the procedure and documents required.
For further information, please go to
http://www.labour.gov.za/If any of your employees falls ill due to exposure to COVID-19 at the workplace, you can apply for compensation through the Department of Labour's Compensation Fund. Should an employee be diagnosed with occupationally acquired COVID-19 virus, claims must be made online or manually using the correct ICD10 code - U07.1.
To qualify, the employee needs to have an occupationally aquired COVID-19 diagnosis:
Claims must be submitted to the following channels using the correct ICD10 code - U07.1.:
Or Manual:
For further information, please go to
http://www.labour.gov.za/In response to COVID-19, and with the aim to mitigate the immediate economic impact, the Oppenheimer family has pledged R1 billion to extend a financial lifeline to employees of South African Small, Medium and Micro-sized Enterprises (SMMEs).
Please see all details at:
South Africa Future Trust(SAFT)
This fund has been established to assist businesses financially who have been directly impacted by COVID-19. It is important that you can prove that your challenges are as a direct result of COVID-19.
The qualifying criteria are the following:
To apply, please go to
www.smmesa.gov.za/For further information and to apply, please go to
http://www.dsbd.gov.za/If you are an artist, athlete, or part of the technical personnel and/or the core ecosystem that supports them, a fund has been made available to soften the economic impact of the Coronavirus pandemic on your livelihood.
The qualifying criteria are the following:
All proposals need to be sent to DSAC.covid19@dac.gov.za.
For further information and to apply, please go to
http://www.dac.gov.za/This Fund provides once-off capped grant (R50 000 per entity) assistance to SMMEs in the tourism value chain to ensure their sustainability during and post the implementation of government measures to curb the spread of Covid-19 in South Africa. The grant can be utilised to subsidise expenses towards fixed costs, operational costs, supplies and other pressure cost items.
Qualifying Criteria are the following:
To access further information on funding criteria and the application process click here.
https://www.tourism.gov.za/Pages/COVID19TOURISMRELIEFFUND.aspxFor further information and enquiries, please contact
covidrelief@tourism.gov.zaQualifying Criteria are the following:
For further information, enquiries and to Apply, please go to:
https://www.daff.gov.za/daffweb3/Home/COVID-19-updates
The SMME Business Growth Resilience Facility has been established for businesses who are geared to take advantage of supply opportunities resulting from COVID-19 or shortage of goods in the local market.
If you provide essential services and products to the fight against COVID-19 and need funding to keep up with growing demand, please see below
The qualifying criteria are the following:
Applications are open as from 2 April 2020.
For further information and to apply, please go to
http://www.dsbd.gov.za/This funding is for black-owned businesses who require funding geared at supporting the manufacture of various medical supplies and the production of food.
Salient Features of the Fund:
Qualifying Criteria are the following:
To Apply, please go to:
https://www.nefcorp.co.za/wp-content/uploads/2020/03/NEF-COVID-19-Fund-Application-Form_Active-fields.pdfFor further information please visit:
https://www.nefcorp.co.za/wp-content/uploads/2020/03/COVID-Fund-Brochure-2020_9.pdf.pdfThe IDC Covid-19 Essential Supplies Intervention is established to provide funding to companies that have the capacity to acquire and/or manufacture products needed to treat, curtail and combat the spread of COVID-19.
Financial support to be provided by the IDC includes the following:
The qualifying criteria are the following:
For further information and how to apply, go to
https://www.idc.co.za/2020/03/24/idc-interventions-in-response-to-covid-19/
In order to assist with alleviating any cash flow burden arising as a result of COVID-19, Government proposes the following tax measures for tax compliant businesses with turnover of less than R50 million per annum. These will only be applicable for 4 months from 1 April 2020 to 31 July 2020.
The qualifying criteria are the following:
Changes will be in effect as from 1 April 2020.
For further information, please go to
https://www.sars.gov.za/Media/Pages/CoronaVirus.aspxThe provisional tax deferral allows qualifying taxpayers to pay:
This applies to first provisional tax payments that are due during the period from 1 April 2020 to 30 September and to second provisional tax payments that are due during the period from 1 April 2020 to 31 March 2021.
The qualifying criteria are the following:
Changes will be in effect as from 1 April 2020.
For further information, please go to
https://www.sars.gov.za/Media/Pages/CoronaVirus.aspx
The Solidarity Fund has been set up by the Government of South Africa to facilitate the prevention, detection, care and support of those affected by COVID-19. Across South Africa, people and organisations have offered to help and the Solidarity Fund is a vehicle that will be set up to facilitate this.
Through this Fund, you will be able to support these efforts through secure, tax-deductible donations.
To donate, please go to
https://www.solidarityfund.co.za/If you want to donate your eBucks to the Solidarity Fund*, please go to
eBucks.com*Donations made to charities in eBucks do not qualify as deductions in terms of section 18A of the Income Tax Act 58 of 1962. eBucks accordingly does not issue Section 18A tax certificates for any such donations.
If you need any specific assistance or have any queries, please don't hesitate to contact us or refer to some of the helpful information loaded here.
For all general business banker queries (including Digital Banking) - please call our Business Desk on 087 736 2247. Please note that the Business Desk has revised operating hours from 8am to 8pm from Monday to Sunday.
For queries and assistance relating to online banking - please call our Online Banking Desk on 087 575 0000.
For any queries relating to your merchant device, please contact the Merchant Services helpdesk on 087 575 0012 or send an email to MSService@fnb.co.za. Our operating hours are:
For any queries regarding your short-term insurance policy, contact your Broker or your dedicated Service Broker directly via phone or email.
For Travel Insurance related queries and claims please email the Travel Insurance Helpdesk on claims@tic.co.za
Should you require any assistance or have any queries, please contact Fleet Services at:
Or contact your dedicated Fleet Relationship Manager. At this time, we also urge you to make use of our Self-Service platform to do your necessary card administration.
Foreign Exchange for Business is fully operational for all your global payment and receipt requirements. Please contact your Business Development Manager or our eSolutions team to provide any assistance on all foreign exchange related transactions. Our global payments platform is also available via your online banking profile where you have the ability to book a deal and secure your exchange rate at the time of capturing your payment
Should you require any further assistance, contact 08601 36739 or email forex@fnb.co.za. Operating hours are:
Remember our global payments platform is available via your online banking profile where you have the ability to book a deal and secure your exchange rate at the time of capturing your payment.
For any PayPal queries, contact us on 087 572 9725:
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