• Applicant can be a start-up and existing businesses whose applications are geared to saving and/or creating jobs;
• Job Creation/saving:
  • Cost per job of up to R750 000 for the duration of funding – calculated using total project cost (total funding requirements of the project from all sources (i.e. the IDC, promoters, other funders, etc.) divided by the number of permanent jobs to be created and/or saved; or
  • Minimum of 150 jobs (cost per job does not apply).
• UIF II funds are blended at a leverage level of at least 30% financing from normal IDC risk-priced funding (i.e. excludes off-balance sheet and other IDC concessionary funding);
• Applicants need to demonstrate compliance with the UIF regulations (i.e. existing businesses to demonstrate that all its employees are registered with UIF as well as that monthly and annual contributions are up to date prior to the loan being disbursed) and all successful applicants to provide confirmation of compliance (letter of good standing) to IDC on an annual basis during the funding period;
• No double dipping; i.e. transactions previously funded utilizing UIF funds (whether it be for job creation or job saving) cannot be considered for funding again to save jobs under the UIF II; and

Transactions in distress (job saving) must not be paying dividends to its shareholders for the period of the loan.

• Loans;
• Limited to:
  • R150 million per transaction, where cost per job criterion applies. Furthermore, a counterparty limit of R250 million applies; and
  • R120 million per transaction, minimum jobs criterion applies. Furthermore, a counterparty limit of R500 million applies.
• Pricing is currently within the range from 8.64% to 10.94%. Discounts from maximum pricing is based on the client’s developmental scores, BI status and job efficiency at the time of the application (i.e. UIF II maximum pricing + Development Incentive (DI): BI + DI: development score + DI: job efficiency). The UIF rate is to be fixed for a period of 7 years and thereafter IDC’s normal risk-based pricing will apply, should the loan facility be longer than this period;
• First drawdown must occur within:
  • 5 months from approval date for non-complex deals; and
  • 7 months from approval date for complex deals.
• Standard IDC fees apply.