Full 2
Funding Requirement
Full 2

Our basic standard requirements include the following:

  • A completed and signed Ithala Loan Application form, which may be accessed on our website, or through our Business Finance consultants;
  • Company documents (founding statement or memo and articles of association)
  • Business Plan, detailing aspects such as marketing, technical, operational, human resource, financial and funding criteria, as well as an Electronic Financial Model;
  • Audited Financial Statements for the past three years/projected financials;
  • Key agreements and/or contracts, such as sales and purchase agreements; and
  • A valid and current Tax Clearance Certificate; and
  • Financial Intelligence Centre Act (FICA) documentation.

In line with Ithala Development Finance Corporation Limited Act, Ithala shall extend financing to persons and businesses where the economic benefits from the underlying economic activity will substantially accrue to KwaZulu-Natal and/or for the empowerment of people resident in KwaZulu-Natal.

In order to qualify for funding the following requirements must be met:

  • The business or project must demonstrate financial viability, i.e. capacity to repay the financing offered
  • The business must be registered with the CIPC other than a Partnership, Trust or Sole Proprietorship
  • The members/shareholders of the business must be in possession of a valid South African Identity Document
  • The business must be registered with SARS as a taxpayer and in possession of a valid tax clearance certificate
  • The members/shareholders of the business must not be un-rehabilitated insolvents and not be under debt review or an administration order
  • The business must not be engaged in any illegal activity and any other activity that may be deemed ethically, morally and socially unacceptable
  • The business and its members/shareholders must demonstrate good standing with all existing creditors and in case of an adverse credit listing, must have made arrangements to fulfil their obligations. Proof of the arrangement and/or settlement has to be provided.
  • The business’s economic activity must have a demonstrable socio-economic impact such as job creation, rural and township economic development and empowerment
  • The business must have a minimum of 26% Black shareholding or LEVEL 4 BBBEE status or 51% black owned

Downloadable Documents

Business Plan Template

Cash Flow Projection Template