Standard Bank Supplier Development
Scope of Work
- Potential SD Beneficiary Engagements
- Collection of Compliance Documents
- Diagnostics Assessments & Business Cases
- Provide Development Support
- Prepare and present funding application to credit committee
- Monitor and Support SD Beneficiaries
Standard Bank Enterprise Development
Limpopo Provincial Treasury signed a cooperation agreement with the Standard Bank of South Africa Limited (SBSA) to provide access to funding for SMMEs who are awarded government contracts but without funds to execute such projects. To this end, SBSA has committed an amount of R300, 000, 000.00 over a period of three years for the implementation of Enterprise Development Fund.
The facility is aimed at ensuring that SMMEs are rendering quality services to government whilst able to sustain their businesses and be able to contribute in the economic mainstream of the province and the country at large.
The Standard Bank of South Africa limited has appointed the Business Development Service Provider (BDSP) known as J & R Accountants (Pty) Ltd to facilitate the funding process between the SMMEs and Standard Bank of South Africa limited.
Types of Facilities
1. Enterprise Development (ED) Credit Fund
- A facility aimed at assisting SMME’s, with a clean credit record, with orders or contracts above R50k from Limpopo Provincial Department.
2. Enterprise Development Rehabilitation Fund
- A facility aimed at assisting SMMEs:
- with adverse credit record, where the transactions cannot be processed through ED Credit due to affordability to repay old creditors.
- SMMEs that require amounts less than R50 000.
- Other, e.g. timelines- where the timelines for the credit process exceed the expected delivery dates (24hr pay-out). These should be exceptions. The application should still be submitted to credit in order to test turn-around times, efficiencies and or replenish the Fund, where possible.
3. Enterprise Development Diners Club
- A facility aimed at assisting Travel Management Companies (TMCs) with finance to fulfill Government Purchase Orders.