GEP Micro Finance Loan – Gauteng Enterprise Propeller (GEP) is a registered credit provider that offers Micro Finance Loans to Gauteng based SMME’s. This loan fund will benefit start-up and existing businesses that demonstrate a potential to grow and can contribute to the broader economic objective of job creation and poverty eradication in Gauteng Province.
If you are a business owner and have been looking for some cash injection to expand your business this is the solution you have been looking for provided you meet all the requirements stated below.
GEP Micro Finance Loan offer funds from as much as R10 000 up to R250 000 and you get a maximum of 36 months to pay.
GEP Micro Finance Loan funds can be used for start-up finance, expansion finance and franchise finance. It could also be used for contract finance, bridging finance, invoice discounting and project finance. At the time of publishing the standing interest rate for loans is charged at a fixed rate of 8% per annum. The fact that interest rate is charged at a fixed amount if a benefit for businesses as this helps with better budgeting for the repayments.
When you apply for funding from GEP Micro Finance Loan they will need collateral which means you will need to put up some assets as surety.
Qualifying Requirements For GEP Micro Finance Loan Funding
- SA Citizen
- The SMEE should be based in Gauteng
- Black-Equity Ownership (51% or more)
- Skills or experience relevant to the business venture
- Business venture to be financially viable and show ability to service loan through repayment plan
- Demonstrate commitment to sustain and grow the business
To apply for funding you can complete the application form found on their website. Once completed you should print the form and sign it and afterwards submit it by email or personally at one of their regional offices.
Please note there is a list of supporting documentation such as certified copies of the Directors / Members’ ID’s and company registration documents that should be submitted together with the application form. For a full list of all the supporting documentation required please visit their website.
To avoid delays in your application please make sure you don’t take chances and provide them with all the required documentation.
GEP Micro Finance Loan Contact Details
For more information visit their website www.gep.co.za or call them on 011 085 2001 and you can send a email enquiry to firstname.lastname@example.org and they will get back to you.