Manufacturing Competitiveness Enhancement Programme (MCEP)

Manufacturing Competitiveness

Enhancement Programme (MCEP)

Working Capital Facility

OBJECTIVES

To assist manufacturing companies with working capital.

Plant & Equipment Facility

OBJECTIVES

To provide finance to Black Industrialists for the acquisition of plant and equipment.

Qualifying Criteria (Working Capital Facility)

  • Only available for working capital requirements;
  • Start-ups only considered for Black Industrialists’ businesses;
  • Only applicable to manufacturers under Standard Industrial Classification Code 3;
  • Applicant may not contemplate workforce reductions during the term of the facility;
  • Applicant required to achieve BBBEE Level 4 within 24 months;
  • MCEP funds are blended at a leverage level of at least 20% funding from IDC; and
  • Pre and post Business Development provided at a maximum of R3 million per applicant.

Instruments and Pricing (Working Capital Facility)

  • Limited to R50 million per applicant;
  • Priced at a fixed rate of 4%;
  • Maximum term is 48 months, including moratorium;
  • First drawdown must occur within 6 months from approval date; and
  • No fees apply.

Qualifying Criteria (Plant & Equipment Facility)

  • Only applicable to Black Industrialists’ businesses;
  • Only available for plant and equipment requirements;
  • Applicable to start–up businesses, expansions and expansionary acquisitions;
  • Applicant may not contemplate workforce reductions during the term of the facility;
  • Only applicable to manufacturers under Standard Industrial Classification Code 3;
  • Applicant will be required to achieve BBBEE Level 4 within 24 months;
  • MCEP funds are blended at a leverage level of at least 20% funding from IDC; and
  • Pre and post Business Development will be provided at a maximum of R3 million per applicant

Instruments and Pricing (Plant & Equipment Facility)

  • Limited to R50 million per applicant;
  • Priced at a fixed rate of 4%;
  • Maximum term is 84 months, including moratorium;
  • First drawdown must occur within 12 months from approval date; and
  • No fees apply.

OTHER

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