Project No 19004-770915 Simphiwe Ngqoyiyana R10000 Loan

Description

Simphiwe Ngqoyiyana had to leave school early to help support his family and started working in the construction industry. After just the first year, his potential, work ethic and drive were recognized, and he was promoted to a supervisory position. From there he went on to work at, a local abalone company as a development manager. Eleven years later he decided to take a leap of faith and start a company of his own in order to create a brighter future for his family.  This company, ID Building Project in Hermanus, has been running for two and a half years.

His first project was building a garage. After the successful completion of this project he registered his business and decided to take it to the next level. He soon realized that the costs of hiring expensive equipment and transport was crippling and he joined the Grootbos Foundation Entrepreneurship Programme to seek funding and guidance to take his business forward. As one of the 18 businesses chosen in 2018 to receive seed funding, Simphiwe says, ‘I’m not there yet but I feel like my dream has come true. Yes, there are challenges, but I feel that I can overcome them. I would like to change the lives of others, to give them jobs and it is my aim to help others in my community to change their lives as well.”  Simphiwe currently provides employment for 8 labourers, is registered with SEDA (Small Enterprise Development Agency) and is listed on the Municipal database through LED (Local Economic Development).  Simphiwe says “This loan would allow me to expand my business even further and purchase the necessary equipment and additional materials.”

Total loan applied for R10,000

This project has been set up to succeed through a careful vetting process together with ongoing mentorship and management. Repayment of your loan will only take place at the end of the loan period (usually 12 months) and not monthly. However, as we cannot give any guarantees, in the unlikely event that the project does fail you will not receive the full repayment of your loan but a pro rata percentage depending upon what portion of the loan has been recovered from the business owner.

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