NYDA Funding Application | How to apply, application form, requirements, and application closing date.
Funding is the act of providing resources to finance a need, program, or project. While this is usually in the form of money, it can also take the form of effort or time from an organization or company. Generally, this word is used when a firm uses its internal reserves to satisfy its necessity for cash, while the term financing is used when the firm acquires capital from external sources.
Below are the full details on how to complete the NYDA Funding application form and its requirements.
What is NYDA Funding?
The NYDA Grant Programme is designed to provide young entrepreneurs with an opportunity to access both financial and non-financial business development support in order to enable them to establish or grow their businesses.
The qualifying criteria include:
- Are youth 18-35 years
- Youth with skills, experience, or; with potential skill, appropriate for the enterprise that they conduct or intend to conduct.
- Are South African citizens
- Are resident in South Africa;
- Members of entities should comprise 100% south African youth, citizen
- Operate business within the borders of South Africa.
- Are adequately involved in the day-to-day operation and management of the business with at least one or more of the members being a full-time employees of the business, especially the main applicant.
- Have completed life skills training and business management training programmes or related programmes as per recommendation from client(s) assessment.
- Have a business mentor and/or a coach approved by NYDA or must be allocated a business mentor by NYDA post application approval.
- Have relevant qualifications or business and/or technical experience including proven entrepreneurship business experience where applicable.
- Require the grant for a viable business idea.
- Previous NYDA Micro Loan Clients who accessed loans up to a maximum of R50,000 with paid up accounts will be eligible to access grant funding.
- Operate either informally or formally; generally recognized as micro enterprises (e.g. street traders, vendors, emerging enterprises);
- Have a profit motive and are commercially viable and sustainable;
- Individual entity must have a bank account.
- For cooperatives, they must have or be willing to form a group of minimum 5 persons.
- Upon approval of grant, if applicant is employed full time, he/she may be required to resign from employment and provide grant officer with proof of resignation;
- Where the entity constitutes more than one member, this will apply to the member with highest shareholding and is operationally involved in the business.
Thresholds / Type of businesses / Grant amount ranges
Threshold 1
Idea generation and survivalist (start-ups)
Grant: R1,000 – R10,000
Threshold 2
Start-ups PTY and cooperatives
Grant: R10,001 – R50,000
Threshold 3
Growth stage PTY and cooperatives
Grant: R50,001 – R100,000
Threshold 4
Expansion stage PTY and cooperatives
Grant: R100,001 – R200,000*
*For agriculture and technology-related projects the maximum threshold is R250,000.00
NYDA Application form Process/Procedure
- You must apply for 3 months before you turn 35 years.
- Submission of all required documentation
- Proof of attending Business Management Training course.
- Business Pitch presentation of 10 minutes – in person or telephonically.
- Due Diligence assessment conducted by the NYDA official on the business.
How to access the NYDA Grant Programme
Contact our Call Centre on 0800 52 52 52 Or visit your nearest NYDA branch.
Application Form (Download here)
Location: South Africa
Website: Visit Website
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