This Covid distressed business fund has been created and are administered by Pay it Forward. This fund is to assist businesses that do not qualify for any other form of relief by government or private funds. These businesses do also not qualify for the Solidarity Fund or have been able to claim UIF or any other form of relief. These funds are for small enterprises that have a turnover of less than 3 million per annum and are mostly newly formed companies and businesses.
These businesses have not been able to generate any income for the whole lock down period and the business owners and their employees have been without any form of income or food supplies.
The beneficiaries of these funds will be contracted to Pay it Forward again and donate a portion of these funds back to this Covid distressed Business Fund once they can afford it, in order to keep the fund going and help other businesses in similar situations.
Pay it Forward have already identified several Businesses in this category which need urgent help. We will also identify new businesses that need help depending on how big the fund grows. These businesses will be vetted to insure they did not qualify for any other form of financial relief and that they are indeed in distress. These business owners will be helped with small donations with a maximum of ten thousand rand per business.
Target R 1 000 000
John & Debbie R 270-00 – good luck
Anonymous R 450-00 – keep the faith
Cape Group R180-00
Gert en Maryna R180 – sterkte vorentoe