The NYDA Grant Programme want established to provide young or new entrepreneurs with a great opportunity to access financial support. The NYDA Grant Programme also provides non- financial business development support which in the long run helps their businesses or start ups to grow very well.
One of the major focuses of the NYDA Grant Program is the youth who are less than 35 years who are entrepreneurs and are at intentional, promising and new stages of enterprise development. Youth entrepreneurs whose business or entrepreneur ideas qualify for the NYDA Grant Programme putting into consideration their individual needs will also be taken some NYDA’s non- financial support services which includes:
• Business Consultancy Services
• Market Linkages
• Business Management Training Programme
• Youth Co-operative Development Programme
Utilisation of the Grant Funding
The grant can be utilised for the following:
• To purchase movable and immovable assets.
• Bridging finance.
• Shop renovations.
• Working capital paid directly to the grantee.
• Co-funding with legal entities only.
Grants will be granted to the following:
• Community Development Facilitation Projects
Service Delivery Standards
• The grant applications will be processed at a branch within 30 working days
• Disbursement for approved will be processed at the Head Office within 30 working days
• The NYDA shall conduct credit checks for all grant applications for funding.
• A grant applicant who is under debt administration shall not be considered for funding.
The grant recipient shall not use NYDA funds to do the following:
• To pay a bribe;
• Re-finance any existing loans;
• Any material purpose not contained in the application for grant or defined during due diligence stage and detailed in the approved Terms & Conditions, unless where written approval has been granted by NYDA;
• To settle overdue or outstanding South African Revenue Service liabilities, whether current on non-current.
• NYDA will not provide grant funding to a client that has benefited from another Development Finance Institution to an amount above R500,000.00.
• NYDA will not provide a grant to an applicant who has been convicted of fraud.