FAQ

FAQ

View some frequently asked questions below

WHAT IS THE IDC?

The Industrial Development Corporation (IDC) is a state-owned largest development finance institution that provides funding for the development of industry in South Africa and the rest of Africa. Established in 1940, the IDC’s primary objectives are to contribute to the generation of sustainable economic growth in Africa and to the economic empowerment of the South African population. The IDC strives to, amongst others:

 

  • Promote entrepreneurial development and grow the Small and Medium Enterprise (SME) sector;
  • Grow black industrialists and transform impact on communities; and
  • Provide funding in support of industrial capacity development.

WHO SHOULD APPLY FOR IDC SUPPORT?

  • Entrepreneurs looking to start up small to medium manufacturing businesses;
  • Companies that need funding for new projects, expansions or refurbishment;
  • Existing manufacturers who wish to expand or modernize their production capacity; and
  • Previously disadvantaged individuals (Particularly women and youth) with business projects.

WHAT ARE THE MINIMUM REQUIREMENTS I MUST MEET TO APPLY FOR FUNDING?

  • You need to have started a new business or running an existing registered business;
  • Your business must be able to create jobs;
  • You need a completed business plan;
  • Your business must exhibit economic merit in terms of profitability sustainability;
  • Reasonable financial contribution from the owner(s)/shareholder(s)/sponsor(s);
  • Security, which may include bonds over fixed and movable assets of the business as well as personal surety and corporate guarantees;
  • Compliance with South African business statutory requirements; and
  • Compliance with international environmental standards.

WHAT IS THE APPLICATION PROCEDURE?

  1. Submit a written request for funding, including a funding request letter;
  2. Attach executive summary and completed business plan;
  3. Ensure you meet all the minimum requirements as set out above; and
  4. Submit application to the IDC.

HOW LONG DOES IT TAKE FOR AN APPLICATION TO BE APPROVED?

We ideally prefer to restrict the application approval process to between three and five months. However, due to different requirements for different applications, this may not be the case for each application. After submitting your application, you will be more than welcome to enquire on the process.

WHAT ARE THE FULL SERVICES OFFERED BY THE IDC?

  1. Funding for start-up and existing businesses with a minimum funding requirement of R1 million and a maximum of R1 billion;
  2. Tailored non-financial business support for entrepreneurs for pre, during and post approval stages, including assistance to distressed clients;
  3. Provision of short term; medium term; and long term loans;
  4. Debt Financing;
  5. Equity;
  6. Quasi Equity;
  7. Guarantees; and
  8. Sector specific schemes.

WHICH BUSINESS SECTORS DO YOU SUPPORT AND WHICH ONES DO YOU NOT SUPPORT?

IDC supports businesses in the following sectors/industries:

  1. Agro-processing and Agriculture;
  2. Automotive and Transport;
  3. Metal and Mining;
  4. Chemical Products and Pharmaceuticals;
  5. Clothing and Textiles;
  6. Heavy and Light Manufacturing;
  7. Industrial Infrastructure;
  8. Tourism;
  9. Media and Motion Pictures;
  10. Machinery and Capital Equipment; and
  11. ICT and New Industries.

 

IDC does not support businesses in the following sectors/industries:

  • Gambling;
  • Property Development, including Residential, Office or Commercial Developments;
  • Golf Courses;
  • Acquisition of Game;
  • Student or Long-Term Rental Accommodation; and
  • Stand-Alone Tour Operators and/or Travel Agents.

WHAT HAS THE IDC ACHIEVED?

  1. In the 2016/17 financial year, the IDC approved 175 funding transactions worth R15.3 billion, of which R11 billion funding was disbursed to businesses;
  2. Of the disbursed amount, R7.7 billion was approved for the manufacturing sector;
  3. 7 billion approved for black industrialists;
  4. 1 billion for black empowered companies;
  5. 2 billion approved for businesses with women ownership of more than 25%;
  6. 3 billion approved for businesses with youth ownership of more than 25%;
  7. Disbursed R59 billion between 2013 and 2017;
  8. Approved a thousand applications between 2013 and 2017; and
  9. Created and saved 99 006 directs jobs and 245 000 indirect jobs between 2013 and 2017.

HOW CAN I GET IN TOUCH WITH THE IDC?

Head Office:

Call Centre: 0860 693 888. Email: callcentre@idc.co.za

Tel: (011) 269 3000 Fax: (011) 269 3116

 

Regional Offices:

 

East London –              Tel: (043) 721 0733     Fax: (043) 721 0735

Port Elizabeth –           Tel: (041) 363 1640     Fax: (041) 363 2349

Mthatha –                    Tel: (047) 504 2200     Fax: (047) 531 1587

Bloemfontein –            Tel: (051) 411 1450     Fax: (051) 447 4895

Durban –                      Tel: (031) 337 4455     Fax: (031) 337 4790

Pietermaritzburg –      Tel: (033) 328 2560     Fax: (033) 342 5341

Polokwane –                Tel: (015) 299 4080     Fax: (015) 295 4521

Mbombela –                Tel: (013) 752 7724     Fax: (013) 752 8139

Kimberley –                 Tel: (053) 807 1050     Fax: (053) 832 7395

Upington –                   Tel: (054) 337 8600     Fax: (054) 334 0835

Mahikeng –                  Tel: (018) 397 9942     Fax: (018) 397 9979

Rustenburg –               Tel: (014) 591 9660/1 Fax: (014) 592 4485

Brits –                          Tel: (012) 252 0007     Fax: (012) 252 4657

Cape Town –                Tel: (021) 421 4794     Fax: (021) 419 3570

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