This Debt Relief Fund aimed at providing relief on existing debts and repayments, to assist SMMEs during the period of the COVID-19 State of Disaster.
For SMMEs to be eligible for assistance under the Debt Relief Fund, the applicant must demonstrate a direct link of the impact or potential impact of COVID-19 on the business operations. This facility will also assist entities in acquiring raw material, paying labour and other operational costs. All these interventions will be structured to match the patterns of the SMMEs cash flows, as well as the extent of the impact suffered. To strengthen monitoring and avoid abuse, SMMEs requiring assistance will be required to enrol on the SMME South Africa platform (www.smmesa.gov.za) which will go live on Tuesday, 24 March 2020.