Debt Relief Finance Scheme for Small Businesses and Sole Proprietors, Including Salons, is Announced

Update on 29 April: After having heard of numerous salons applying for this funding and be declined, as well as hearing of numerous businesses in other industries being declined, Hairnews must inform the industry that this fund is not an efficient way of applying for debt relief and the funding seems to be difficult to obtain.

However we would still urge salons to take the time to apply as even if you are declined, it provides proof that you have exhausted all avenues, and this can be important when you are (for instance) negotiating with your landlord.

As we progress through lockdown, additional relief measures are constantly being updated and announced. This government-funded relief scheme includes debt finance relief which is available for all businesses.

HERE is more information on the debt relief scheme, and how to apply.

Please note that to apply, businesses do have to be CIPC-registered and South African owned.

There are no BEE requirements for any of the Covid-19 debt relief schemes and anybody who states this is spreading fake news. All businesses are entitled to apply for relief funding if it is needed.

Hairnews will continue updating readers as soon as more information is made available.

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