IDC Textiles & Wood Products Sector Funding : Industrial Development Corporation

Organisation : Industrial Development Corporation (IDC)
Facility Name : Textiles & Wood Products Sector Funding
Country : South Africa
Website : https://www.idc.co.za/textiles-wood/

What is IDC Textiles & Wood Products Sector Funding?

The IDC’s strategic business unit (SBU) for textiles and wood offers support to various enterprises across both sectors. The textiles and wood sector focus ranges from home decor to leather goods producers to manufacturers of natural or synthetic fabrics. The wood sector focuses on the beneficiation of wood from the sawmilling process to the manufacturing of paper and packaging.

Related / Similar Facility : IDC Media & Audio Visual Funding

What We Fund?

Textiles:
** Clothing manufacturing
** Natural fibre production, including wool and mohair beneficiation
** Synthetic fibre production
** Leather tanning; and leather product manufacturing
** Footwear manufacturing
** Spinning of yarns, knitting and weaving of products
** Non-woven textile production
** Dyeing, printing and finishing of fabrics
** Household textile production

Wood:
** Saw milling activities
** Paper and pulp manufacturing (all forms)
** Paper based packaging production
** Furniture production

Who Should Apply For IDC Textiles & Wood Products Sector Funding?

Existing manufacturers who wish to expand or modernise their production capacity; manufacturers in distress due to global economic trading conditions; and entrepreneurs looking to start up small to medium manufacturing facilities.

Every business proposal is considered on its own merits, but preference is given to:
** Financing fixed assets and the fixed portion of growth in working capital requirements;
** Supporting ventures/projects that have a significant socio-economic impact in terms of job creation, value addition, empowerment, rural development, and/or township development;
** Supplying distress funding for troubled companies that have a clear turnaround plan.

Criteria of IDC Textiles & Wood Products Sector Funding

Our minimum investment requirements are:
** Security, of a type related to your business’s specific circumstances; Compliance with international environmental standards; and Relevant bargaining council compliance.
** In addition, shareholders/owners are expected to make a material contribution to the project — generally 35% of total assets for going concerns and 45% – 50% for start-ups, depending on the industry norms and risks involved. We prefer our exposure not to exceed that of the owners of the business.
** However, the contribution for start-ups with a material developmental and job creation impact may be lowered, in which case the IDC may be prepared to extend finance greater than the owners’ contribution.

How To Apply For IDC Textiles & Wood Products Sector Funding?

Application for funding should be in writing and should include an executive summary and a business plan.

Step 1 : Business Plan
Draw up a well-researched business plan, stating a compelling case for funding

Step 2 : Register Online
Applications can also be submitted at the IDC office

Step 3 : Upload Application
Upload your application with the relevant documents, certificates and business plan

Step 4 : Process Application
IDC will confirm that it has received your application. While processing we may ask you to supply extra information or documentation

Step 5 : Approval Status
IDC will give you feedback on the outcome of your application, in writing. If your application is successful, due diligence will be conducted on your business.

Step 6 : Loan Contract
Once the IDC has satisfied itself of your bona fides, you will be asked to sign a loan contract

Step 7 : Begin Funding

Apply For Funding Now : https://protected.idc.co.za/clientportal/Home/Index?ReturnUrl=%2Fclientportal%2F