Are you a black-owned business owner struggling to access funding? Here’s an exciting competition launched by Inyosi Empowerment that may give your business just the boost it needs.
Inyosi is South Africa’s most established Enterprise and Supplier Development funding provider. They’re currently hosting an exciting competition with a huge prize: Debt funding of up to R5 million at ZERO interest PLUS access to their innovative web-based preferential procurement portal ‘iHive’ for 36 months.
This competition could be your chance to take your business to the next level.
Inyosi Empowerment has more than a decade’s experience of enabling black-owned businesses.
They provide access to capital, markets and skills. They have advanced more than R800 million to growing businesses and helped over 300 black-owned businesses to develop and thrive with their competitively priced funding, agreed matched grant funding and access to their inhouse web-based preferential procurement portal, www.iHive.co.za.
Funding is provided countrywide across various sectors, including services, agriculture, manufacturing, IT and many more.
Some of their success stories include Silulo Ulutho Technologies, an ICT service and training provider.
The company received loan funding from Inyosi for their brand expansion throughout the Eastern and Western Cape region.
Today, of the 45 Silulo Internet Cafés, 17 have been funded by Inyosi. Inyosi also facilitated more than R2 million worth of bursaries to the various Silulo training and development programmes, geared towards upskilling South African Youths.
Matongoni General Trading, a recycling and manufacturing specialist, is another part black-female-owned and operated Inyosi beneficiary.
Inyosi co-funded Matongoni’s Black Industrialist expansion program, which aims to increase meaningful participation of black-owned companies in the mainstream economy.
As one of the YES Programme implementation partners, Inyosi placed over 150 YES interns at Matongoni over the past 3 years.
The YES (Youth Employment Service) Programme aims to assist the Youths of South Africa in developing skills and gaining work experience through employment placement.
Black-owned businesses currently face a challenging economic environment. The Inyosi interest-free loan competition is an exciting opportunity not to be missed.
You qualify for the competition if your business:
- Is at least 51% black-owned,
- has been in operation for at least 36 months,
- operates within the South African boarders,
- has financial statements and management accounts,
- annual revenue exceeds R1m but does not exceed R50m, and
- no Insolvency Event has occurred or is likely to occur in the next 12 months.
To enter the competition simply apply via the Inyosi website.
For more information regarding the competition, qualifying criteria, required documentation and application forms, visit their competitions page.
Apart from the game-changing prizes on offer, your business will also benefit from the increased awareness through media coverage, as well as the connections made with the Inyosi’s 500 ESD investors and partners.