Since Hermanus Siyakha was launched 100 days ago, the non-profit company (NCO) has made eight interest-free loans to small businesses.
This initiative, aimed at “transforming communities by building relationships and growing businesses”, was launched on 14 March and has already granted loans to the value of R33 500 to eight small businesses. Siyakha has also raised R4 000 for the vegetable garden at the Youth Café in Zwelihle.
The money for the interest-free loans is raised through crowd funding and contributions made to the non-profit company for distribution to deserving loan applicants.
Some of the businesses that have been granted loans include a clothing manufacturer, a spaza shop, a building contractor, an internet café, a photographic studio and a food processing business. Every loan recipient has a business mentor working alongside them to ensure they grow a sustainable business in their community.
“The financial support from the local Overstrand community and the fact that all of the recipients have managed to make their monthly repayment commitments is extremely encouraging,” said Phillip Parsons of Hermanus Siyakha.
“This allows the initiative to fund current projects and consider additional projects, as they are identified, fully.”
Hermanus Siyakha is hoping to increase the number of business projects applying for interest-free loans in the coming months. It is actively working with local organisations such as the Grootbos Foundation to assist in the process.
Siyakha invites members of the public to become involved in the initiative by applying for loans for suitable projects or by offering their services as business mentors.
Says Parsons: “We encourage prospective donors to visit our website www.HermanusSiyakha.org.za to view new projects being showcased as soon as they have been assessed.
“The Hermanus Siyakha initiative would like to thank all who have sent messages of support, financial contributions towards loans for projects and offered assistance. After 100 days, Hermanus Siyakha still believes it has an increasing role to play in transforming communities, building bridges and growing businesses in the Overstrand region.”
Visit www.HermanusSiyakha.org.za for more information on how to contribute or become involved with the project.