“The R32.30bn is the cumulative amount of monthly instalments for assets and loans, which have been deferred. The combined value of the actual assets is R537bn. This includes R229.27bn for home loans, R52.06bn in business mortgages and R47.52bn in asset-based finance for companies.
“The loan guarantee scheme provides loans, substantially guaranteed by government, through participating commercial banks to eligible businesses, to help them survive until ‘new normal’ economic activity can resume.” The initial take-up of the scheme was slower than anticipated and, since August 1, the terms and conditions were revised, making it easier for small businesses to access loans to cover operating expenses such as salaries and rent. Key changes to scheme criteria include:
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: eNCA - 🏆 49. / 51 Read more »
Trump signs coronavirus relief orders after talks with Congress break downPresident Donald Trump signed executive orders on Saturday providing additional financial support to Americans hard hit by the coronavirus pandemic, after his negotiators failed to reach a deal with Congress.
Source: TimesLIVE - 🏆 28. / 59 Read more »
SAA stalls again as rescue practitioners wait for new fundingThe directors-general of the department of public enterprises and the Treasury have met with banks to persuade them to provide R5.3bn immediately
Source: BDliveSA - 🏆 12. / 63 Read more »
Source: eNCA - 🏆 49. / 51 Read more »
Source: eNCA - 🏆 49. / 51 Read more »
Tito Mboweni grants municipalities more time to submit financial statementsThe phased, virus-driven lockdown has had a knock-on effect on the availability of municipal staff, adding to delays, says the Treasury
Source: BDliveSA - 🏆 12. / 63 Read more »