FINANCIAL SOLUTIONS
SAFI members can explore a range of financial assistance opportunities tailored to support and empower businesses within the furniture industry. From funding opportunities to financial advisory services, this section provides valuable resources to help members navigate financial challenges, access capital for growth initiatives, and optimise their financial management strategies.
FURNITURE INDUSTRY FUND (FIF) - NEF
Growing Black Economic Participation
The FIF is available to qualifying furniture manufacturers in the following sub-sectors:
- Case Goods e.g. dining tables and chairs, bedroom suites, display and storage units
- Kitchen and built-in cupboards
- Lounge and upholstered furniture
- Mattresses and bedding
- Office furniture
- School furniture
- Any other furniture-related business
The purpose of the fund is to assist qualifying furniture manufacturers to:
- Improve their competitiveness.
- Survive the current economic downturn.
- Increase localisation of productive output within the value chain.
- Promote economic inclusion in support of equitable economic growth.
- Strengthen partnerships between retailers and suppliers, and
- Maintain and increase current employment.
Funding, up to a maximum of R5 million per transaction, can be applied to:
- Capital equipment
- Working capital
- Quality assurance
- Environmental requirements
Fund structure and offering:
- The funding will be in the form of debt or equity.
- Interest will range from 0% to 5%.
- The maximum tenure is 84 months.
Target market – Mainly qualifying SME’s that:
- Meet the NEF’s financial, marketing, technical and environmental requirements.
- Retain or create jobs through the funding.
- Are start-up’s expansions or expansionary acquisitions.
For further information please click on the link below:
National Empowerment Fund | Growing Black Economic Participation (nefcorp.co.za)
Applicants can submit their applications to the following email address:furniturefund@nefcorp.co.za
For more information please call: 0861 843 633 (0861 THE NEF)