The timelines indicated are what the Masisizane Fund estimates and will endeavour to achieve, however these may vary depending on a number of factors, including:
- Complexity of the application, deal structure, etc.
- Availability of the applicant during the evaluation process to engage with Masisizane Fund at the site where funded activities will be undertaken, or as may be required.
- Time it takes to obtain further information from the Applicant.
Step 1: Screening (1 – 2 weeks)
Submit the following documents for an initial screening by the relevant provincial office:
- Comprehensive business plan with market analysis and projections;
- For established businesses – past financials (preferably 3 years) and the latest management accounts;
- For start-up businesses – financial projections;
- Tax clearance certificate;
- Off take agreements and/or letters of intent;
- Signed consent for a credit check.
Once the initial screening has been completed, a full due diligence exercise, including a site visit will follow.
Step 2: Loan application and assessment ( 2 – 3 weeks)
- Business plan assessment
- NCR compliance
- Regulatory compliance e.g. tax, trading licenses, permits
- Industry and business analysis
Step 3: Due Diligence (4 – 8 weeks)
- Site visit to the Applicant’s operating premises
- Market analysis of the business
- Ownership and management
- Operations and processes
- Loan repayment ability
- Deal structuring
- 3rd party assessment (as required)
Step 4: Approval (2 – 12 weeks)
- Decision by EXCO and Credit Committee (approximately 2 – 6 weeks)
- Approval by Board (approximately 4 – 12 weeks)
Step 5: Disbursement (2 – 6 weeks)
- Contracting and disbursement
Masisizane Application Form