The IDC Gro-E Scheme has R4.5 billion available to fund youth-empowering creative enterprises.
Are you young and creative, with a great business idea? If you are aged between 18 and 36 and need enterprise finance for radio and TV broadcasting, new media, music, film and animation production, or other media, the Industrial Development Corporation (IDC) is looking for you.
The IDC’s Gro-E Youth Scheme gives financial and non-financial support to youth enterprises with the potential to create jobs and grow South Africa’s economy.
The scheme has R4.5 billion available to fund youth-empowered and youth-owned enterprises over five years.
The Gro-E Youth Scheme provides loans at an interest rate of up to prime minus three per cent and a real after-tax internal rate of returns six per cent equity.
Funding is available to South African citizens and permanent residents. The minimum that can be applied for is R1 million.
Who should apply for Gro-E Youth Scheme funding?
- Start-up businesses needing funding for buildings, machinery, and working capital
- Existing businesses wanting to expand
- Businesses in which ownership by people aged between 18 and 35 is at least at 25 per cent
- Businesses that demonstrate economic merit and have prospects of acceptable profitability to be able to service their obligation
For more information contact the IDC Call Centre on 086 069 3888 or e-mail firstname.lastname@example.org