Enterprise and Supplier Development Solutions - Frequently asked questions
Enterprise and Supplier Development is the development of small to medium sized black owned South African businesses (Enterprise Development) and black owned suppliers that are South African on the banks supply chain (Supplier Development)
At Enterprise and Supplier Development, we have embarked on a deliberate journey
to support black-owned South African businesses to grow, scale and create sustainable
entities that can contribute towards job creation, thereby improving the economic
development of the communities in which they operate in.
Criteria
- 51% or more black-owned (broad-based Black which includes African, Coloured, Indian as per definition; South African citizen).
-
Trading within South Africa and the majority shareholder being a Black South African citizen.
-
Total annual revenue less than R50m with preference for enterprises with an annual turn-over <R10m.
-
Main applicant needs to be a director with shareholding, and dedicated full-time to the business.
To qualify for the supplier development programme, an entity must be an active supplier on Standard Bank’s procurement database (Tier 1 Supplier), or a supplier to Standard Bank suppliers (Tier 2 Supplier)
and the client for enterprise development is required to have an active transactional business account with SBSA or to open a new transactional SBSA account.
Exclusions
- Sub-contracts
- Non-profit organisations/NGO
- Merger and acquisition transactions
- Equity-related transactions
- Prototype development
-
Paying off loans from either Standard Bank, other banks/financial institutions, or any other debt (including SARS)
-
Requests for sponsorships for events, etc.
-
Purchasing of residential or commercial Property
-
Payment of salaries and rentals.
Purchase Order Solutions
An offering aimed at assisting customers with valid purchase orders from government or
private sector entities to fulfil their contractual obligations, with the maximum loan term of 90 days at prime + 2% and 2% once-off management fee.
The validity of the purchase order is determined by a delivery date that is at least 14 days from the date of submission of all required documents.
Required Documentation
Signed POPI Consent form
Valid purchase order
Quotations (including delivery costs) from suppliers
Company registration documents
Original identity documents of Directors
Central Supplier Database (CSD) report not older than three (3) months, if it’s a
public sector application.
Tax compliance status PIN
Valid tax clearance certificate
Proof of address for the company directors
Company profile
Curriculum vitae of member/Director
Sworn affidavit of B-BBEE exemption or a B-BBEE certificate.
Benefits
- Low-interest rate
- No Collateral required
- Ring-fenced process
- Quick turnaround.
ED also provides credit-enablement solutions aimed at supporting customers’ credit
applications in collaboration with our regional credit team. This is done by utilising other ED mechanics.
- Credit top-up: ED can bridge the shortfall between the client’s funding need and the funds approved by credit
- Full ED Funding: ED can fund the commercially viable businesses.
The client is required to have an active transactional business account with SBSA or to open a new transactional SBSA account for PO Solutions and Stand Alone Solutions.
For PO Solutions, validity of the purchase order is determined by a delivery date that is at least 14 days from the date of submission of all required documents.
You are requested to sign the POPI consent form because of South Africa’s Protection of Personal Information Act (POPIA), which governs how organizations collect, use, store, and share personal information.
We’ll give you the working capital you need to meet your contract obligations as well as access to a range of business development support services.