Ben Bierman, managing director at BUSINESS/PARTNERS says their team has been working around the clock to put guidelines and systems in place to ensure the funding reached businesses that needed it most. Photo: Supplied
Ben Bierman, managing director at BUSINESS/PARTNERS says their team has been working around the clock to put guidelines and systems in place to ensure the funding reached businesses that needed it most. Photo: Supplied

BUSINESS/PARTNERS ready to take applications for the Rupert funding this week

By Sizwe Dlamini Time of article published Apr 1, 2020

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CAPE TOWN – The country’s small businesses have been dealt a rather bad hand with Couth Africa being in a technical recession, the Moody’s downgrade to sub-investment grade and the impact of Covid-19 particularly on travel and tourism.

The disruption brought on by the coronavirus pandemic has left many small and medium-sized enterprises (SMEs) across the world uncertain about their future.

Ben Bierman, managing director at BUSINESS/PARTNERS said on Tuesday that it was against this backdrop that President Cyril Ramaphosa announced R1 billion funding from the Rupert Family and Remgro, which resulted in cautious hope for many SMEs that are now eager to learn how they can access the finance.

“We can confirm that Business Partners Limited (BUSINESS/PARTNERS) – one of Africa’s leading risk finance companies for SMEs – has been selected as the Administrator of the R1 billion funding and are truly honoured to have been provided the opportunity to serve our country in this manner,” said Bierman.

Bierman said the BUSINESS/PARTNERS team had been working around the clock to put guidelines and systems in place to ensure the funding reached businesses that needed it most.

“We will have distinct and separate financing programmes available for both sole proprietors and formalised SMEs to ensure widespread support. We expect to make an announcement regarding the criteria, repayment terms and how to apply for the finance this week,” says Bierman.

“The unfortunate reality is that COVID-19 will lead to the demise of many SMEs across the world. We believe that through the funding made possible by the Rupert Family and Remgro Limited, together with other initiatives being implemented by both the public and private sector in South Africa, we can help sustain many of the affected businesses and protect jobs for years to come,” concludes Bierman.

The Rupert Family engaged BUSINESS/PARTNERS as an administrator of the R1 billion the family last week pledged to assist businesses battered by the coronavirus. According to media reports, Bierman said the company had been working around the clock to put guidelines and systems in place to ensure the funding reaches businesses that need it most.

He was quoted as saying: “The unfortunate reality is that Covid-19 will lead to the demise of many SMEs across the world. We believe that through the funding made possible by the Rupert Family and Remgro Limited, together with other initiatives being implemented by both the public and private sector in South Africa, we can help sustain many of the affected businesses and protect jobs for years to come.”

BUSINESS REPORT

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