What form of business is best?

One of the most important things you need to do is to decide what form of business your SME will be? There are many forms of businesss: from sole proprietorships, to partnerships, to CCs, to PTY LTDs. The most likely form for your small business will either be sole proprietorship or a close corporation.
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Bridging Finance

Short-term finance and/or performance guarantees for entrepreneurs who have secured contracts or tenders with government, parastatals or well established private sector companies.

Eligibility
  • Evidence of valid contract or tender.
  • Namibian citizenship or permanent residence status.
  • Majority Namibian owned business.
  • Promoters with good track record in respect of them having successfully completed similar projects in the past.
  • Any contract or tender for delivery of goods or services to government, parastatals, and established private sector entities.
Financing options
  • Short term loans
  • Current minimum of N$ 3 million
Security Determined on a project by project basis, taking into account the credit rating score and risks identified.
Repayment period Maximum 3 years (including grace period).
Interest rate
  • Determined on a project by project basis.
  • Interest may be capitalised during the grace period.
Grace period Tailored to the contract payment profile.

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2010-09-05
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