The Khula Enablis Loan Fund
Enablis Entrepreneurial Network have been re-naming their company become the Khula Enablis Loan Fund. It is reflective of the support that the company has committed to supporting South African entrepreneurs. Since entry into South Africa in 2004, Khula Enterprise Finance has been Enablis’ funding partner. Khula has been an investor in Khula Enablis SME Acceleration Fund and the Khula Enablis Loan Fund during this time. It was committing a total of R60 million in financing opportunities to the entrepreneurs.
To date the loan fund has guaranteed loans to 62 entrepreneurs, of which11 are female entrepreneurs, and 42 are black entrepreneurs. This continued support demonstrates the enterprise’s commitment to its capability to address unemployment and the SME market. Mkhululi Mazibuko, Khula Enterprise Finance chief operating officer said “We are dedicated to the development and sustainability of small businesses in South Africa.” He added “We share the commitment to the economically vital SME sector and are proud to partner with them in the finance opportunities and the coupling of important capacity building.”
The loan fund allows entrepreneurs with sustainable and viable businesses to obtain risk funding under favorable terms. Loan amounts between R100 000 and R5 million. This guarantee is relevant and particularly important.