sefa (an agency of the DSBD) has limited funding instruments through its Direct Lending channel, and currently funding is solely through debt finance. There are no quasi-equity instruments that typically form the equity base needed by start-up enterprises.

The Blended Finance Programme therefore is a direct intervention by the DSBD and sefa aimed at:

  1. Improving the capital structures of the SMMEs to be as ideal or as optimal as possible (i.e. increase the equity capital portion of the SMME and in turn reducing the required debt amount by the SMME), and in so doing

  2. lowering the effective cost of capital for SMMEs

The Programme entails:

availing capital to SMMEs on a blended basis:

  1. Debt funding (which attracts interest on the loan amount dependent on the risk profile of each SMME), blended with.

  2. Conditional grant funding. (this is a grant – therefore there no interest on this capital & the capital is also not repayable (Note: this is provided that the conditions of the grant are met by the beneficiary SMMEs)​

Application requirements:

The two main criteria for access or to be considered for the Blended Finance Programme are:

  1. The SMME must be creating or maintaining a minimum of 10 jobs

  2. The jobs created must be sustainable i.e. the jobs created must remain in existence for a continuous period of at least 3 years

Once these two conditions are met sefa will then determine how much the SMME will qualify for should the application for funding be approved


  •  Draft your Common Funding Template/Business Plan or proposal, and

  • Complete the sefa application form which can be downloaded from the sefa website at

  •  Submit this business plan together with the completed sefa application form and supporting documentation to your nearest sefa access point / or email it to sefa


Contact sefa Client Liaison Centre

T: 012 748 9600

F: 012 748 9791



Regional Offices