Covid-19 Loan Guarantee Scheme

12 Apr 2021

COVID-19 Loan Guarantee Scheme extended for three months

By Staff Writer

The Loan Guarantee Scheme (LGS) was announced by President Cyril Ramaphosa on 21 April 2020 as part of the Economic Stimulus Package and was designed to support small businesses that were experiencing financial distress as a result of the COVID-19 pandemic.

11 Mar 2021

Weak demand for loans from Covid-19 Loan Guarantee Scheme

By Staff Writer

As of 27 February 2021, R18,01 billion in loans had been approved by banks and taken up by small businesses under the Covid-19 Loan Guarantee Scheme, the Banking Association of South Africa (BASA) said today.

21 Feb 2021

Demand for loans from Covid-19 Loan Guarantee Scheme seen decreasing

By Staff Writer

As of 30 January 2021, R17,9bn in loans had been approved by banks and taken up by small businesses under the Covid-19 Loan Guarantee Scheme. This represents an increase of just R60m over the past two weeks, with only an additional 261 applications received by participating banks, of which 97 were approved, the Banking Association South Africa (BASA) says in a statement issued today.

03 Feb 2021

BASA issues Covid-19 Loan Guarantee Scheme update

By Staff Writer

As of 16 January 2021, R17,84 billion in loans had been approved by banks and taken up by small businesses under the Covid-19 Loan Guarantee Scheme.