Giving For Hope Foundation calls for additional funding for SMMEs as applications open

The Giving For Hope Foundation (GFHF) is now processing applications from Small, Medium and Micro Enterprises (SMMEs) needing loans to survive the crippling COVID-19 pandemic and preserve jobs. 

The GFHF, which was officially launched on April 8 with initial seed funding from the Willowton Group, Albaraka Bank and the South African Muslim Charitable Trust, is appealing to larger businesses with the resources to survive the lockdown, to contribute towards a pool of funds that will be used for “soft” loans for struggling SMMEs. Within the first 24 hours of applications opening on Wednesday 15th April, there were 257 applications requesting a total of R147 million in funding and accounting for the preservation of 3 577 jobs. 

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