Industrial Development Corporation

Gro-E Youth Scheme makes funding available at an interest rate of up to prime minus 3% to businesses that create jobs with a minimum of R1 million and a maximum of R50 million per project will be allowed. The funding is available over five years or until the Scheme is exhausted, whichever occurs first. The first draw must be within one year from the approval of funding. If not, pricing reverts to normal IDC pricing. Reduced loan pricing will be available for five years, after which normal IDC pricing will apply; and - Finance required in excess of the scheme's limit can be accessed through normal IDC funding.