Tourism Relief Programme

 

The Tourism Relief Programme is an initiative available to SMMEs in the South African tourism sector, to assist their recovery from the ongoing effects of the Covid pandemic.

Providing these businesses with much needed financial assistance on a concessionary basis will contribute to saving jobs and enable them to continue contributing to the broader economy.

 

What funding can I apply for?

 

You can apply for a maximum amount of R2 million and the total funding comprises a loan and a grant to cover direct overheads for six months including salaries and wages, rent, administrative overheads and loan instalments.

Loan conditions are as follows::

  • The term of the loan is 60 months.
  • In the first 6 months, no interest will be charged and no repayments will be required. Thereafter, interest will be charged at prime and will be payable. From month 13 to month 60, the full monthly instalment is payable.

 

Grant conditions are as follows:

  • A grant will be paid out as part of the first disbursement.
  • The grant amount is 20% of the loan amount, or R200 000 (whichever is lower)
  • The grant is not repayable.

 Other terms and conditions

  • No raising or administration fees will be charged.
  • No collateral is required.
  • The owner/s of the business will be required to sign personal surety limited to 120% of the loan amount.

Does my business quality for funding?

We accept applications from the following tourism-related businesses:

  • Hospitality establishments (including restaurants)
  • Transportaion services (including tours and shuttles)
  • Travel agencies
  • Tour operators
  • Boutique hotels
  • Guest houses
  • Bed and breakfasts

To qualify for funding, your business must be:

  • A going concern with an annual turnover of less than R20 million and
  • A private company or close corporation that is 100% held by individuals.

 

 

What information and documents will I need to submit with my application?

 

  • A short motivation explaining why the funding is required and what it will be used for.
  • Annual financial statements for the financial period ended 28 February 2021, signed off by a professional accountant.
  • Management accounts not older than three months.
  • The last three months bank statements. 
  • A rent (premises) statement not older than three months.
  • Details of any payment arrangements made with any  financial institutions and or credit agreements such as asset finance or trade finance, together with a monthly statement, not older than three months.
  • Statement of assets and liabilities for the main entrepreneur/s.
  • Confirmation of tax registration.
  • Copy of marriage certificate or antenuptual contract, if applicable.

What happens if I don’t have the required information and documents available?

Applications will not be considered or evaluated until all the required information and documents have been uploaded. You’ll have two weeks to complete the application.

 

Who can I contact if I have questions?

Please email tourismreliefprogramme@businesspartners.co.za

 

What happens after I appy?

After we receive your application, our investment officers will commence the assessment. If your application is successful, you’ll receive a link to complete employment stats for your business. Funds will be paid within a week of receipt of this information. (This is vital to track the number of jobs supported by the programme). We will be in touch within two weeks to let you know the outcome.