Small Business Growth Fund Grant – CDI Capital Growth has announced that applications are being accepted for grants to assist small businesses, with the goal of creating 600 new jobs by 2023.
CDI Capital is a niche emerging finance fund and not-for-profit subsidiary of the Craft + Design Institute (CDI) with a 20-year track record of supporting small businesses in South Africa. As an impact financier, CDI Capital is committed to creating positive social and economic impact in South Africa’s SME sector and economy.
Small Business Growth Fund Grant
From 2012 to 2015, the CDI Capital Growth fund created 464 jobs in 45 companies, with the participating companies increasing their combined annual revenues by 73% – exceeding the fund’s original goals. The current funding round, supported by the National Treasury’s Employment Fund, aims to support up to 60 companies to create 600 new jobs by March 31, 2023.
Small Business Relief Fund 2.0
Companies that are growing or planning to expand will be eligible for assistance that will allow them to create jobs.
Successful small businesses will receive funding ranging from R105,000 to R1,050,000 from emerging funder Impact, which is part of the not-for-profit organization Craft + Design Institute. According to CDI Capital, the amount of funding will depend on how many jobs the companies commit to creating before March 31, 2023.
“We believe that small businesses are critical to growing our economy and creating jobs — even more so after the recent pandemic and social unrest,” CDI’s Erica Elk said in a statement.
“Through significant and socially responsible investment, we can increase the potential of local entrepreneurs, build a generation of South African innovators and a strong and inclusive economy.”
Reasons To Seek Business Funding
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The fund addition will reopen applications to the Small Business Assistance Fund, which was originally launched in April 2020 and relaunched in September 2021. The fund will close new deposits on Friday, April 15, 2022, at 5:00 p.m.
Companies can apply for one or both subsidies. These funds can only be used for expenses incurred between March 3, 2021 and December 31, 2024.
About The Programme
We will prioritize financing companies in industries most directly affected by shutdowns, policies or general revenue loss related to COVID-19. We also want to help businesses looking to expand in 2021 and beyond. These include, among others:
All applicants will be considered for one or two scholarships. Grants will be given mainly on the basis of the budget included in the application. Businesses will be able to apply for a relief grant or a growth grant or both.
Companies will have to submit appropriate documentation on the use of these funds within 90 days from the date of the grant.
All applicants must meet the following criteria to be considered for a grant. Incomplete applications will not be considered.
Love, Tito’s Small Business Grant Program
KRIOLU (Cape Verde Creole) 中文 (Chinese) English (PDF) FRANCAIS (French) Kreyòl ayisyen (Haitian Creole) PORTUGUÊS (Portuguese) Русский (Russian) Af-Soomali (Somali) English Foundation Viñol (Spanish) Spanish Viñol provides Social investors: Charities and social enterprises must approach social investors to secure support from the growth fund,
The full list of investors in the growth fund can be found here. You can also visit Good Finance for more information on access to social investing and a social investor guide
The Growth Fund is a partnership between the National Lottery Community Fund, Big Society Capital and Access and is designed to provide the funding needed by charities and social enterprises to grow or diversify their business models. The fund is intended for organizations that likely have not engaged in social investments in the past.
The funding offered is mainly in the form of small, flexible and unsecured loans for organizations that want to use the funds to create a greater social impact. The same social investors who provide the Growth Fund can offer up to £150,000 of flexible funding to charities and social enterprises by combining grants with loans for simple products.
Canadian Government Funding
Normally, this type of financing was not available. This is often because social investors see such funding as high risk and therefore beyond the reach of charities and social enterprises, or the funding needs to be of a larger minimum size to cover transaction costs, which are too large for the organisation. development phase.
The unique model of the Growth Fund, which combines grants from the National Lottery Community Fund and investment capital from Big Society Capital and makes this mix available to organizations that wish to continue lending to charities and social enterprises, is designed to overcome these barriers. .
Early evidence from the Growth Fund shows that the mix of funds is helping to close the well-documented gap for smaller, unsecured loans and reaching organizations that previously may not have benefited from social investment. There will also be much to learn from the funds over the next few years, particularly on how subsidies can help increase the supply of relevant social investments.
For more information on the details of the growth fund structure and our historical guidance on the application process for social investors, you can read the detailed guides listed below. The growth fund is now almost fully committed and closed to new expressions of interest from social investors.
Growth Advice For Businesses
Although the growth fund is almost entirely committed to social investors, their work in lending to charities and social enterprises is still in its early stages. We expect that loans will be made until the beginning of 2020, with the end of 2019 being the peak of lending activity for these properties.
We will work closely with our funding partners, the National Lottery Community Fund and Big Society Capital, program evaluators and our learning partners to collect a wealth of relevant data and learn, always mindful of the burden that data collection places on social investors. and charities and social enterprises.
The investment portfolio of the growth fund is supervised by the joint investment committee. The committee meets every quarter and delegates decisions between meetings to the growth fund management group, which consists of representatives from all partners in the growth fund.
The JIC is made up of two representatives from each of the partner organisations, Big Society Capital, the National Lottery Community Foundation and two representatives from Access. It is headed by Access.
Where To Find Your £5,000 Small Business Technology Grant
Now in its second funding round, each recipient will receive a $5,000 grant from MasterCard to accelerate their growth and help make 2022 the year of their small business.
Shalom Ellis is proud to say that many recipients identify as part of the new majority of small business owners:
Although their companies span different industries and stages of growth, all recipients share a commitment to impact. Each husband told us how they create jobs, integrate social impact and contribute to local causes and organizations.
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“We run a summer camp in Antonito, Colorado called Mini Money Runners,” says Lauren Jenkins (pictured above), founder of Mini Money, a financial literacy app and educational program for schools. “The median income in the district is $22,000 and is 82% Latino. This grant will go towards funding the work of the financial literacy camp and paying teachers to host workshops covering money, emotions, budgeting and entrepreneurship over six weeks.”
See the full list of Small Business Growth Fund recipients below and visit the Small Business Finance Center to find additional grant and loan opportunities.
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This year’s theme for Small Business Month is “Give Back Better,” with more than 20,000 small businesses already receiving help during the COVID-19 pandemic.
Hundreds of small businesses in South Brent across many different industries have the opportunity to innovate, plan and grow into the future thanks to these new grant schemes.
Regional Development Portfolio Holder at South Brent Regional Council, Councillor