The application process for accessing the GH¢600 million COVID-19 Fund will start today, 20th May 2020, and end on Saturday, 20th June 2020.
The beneficiaries are expected to be either self-employed, sole proprietors, or engaged in a limited liability, partnership, or joint venture arrangement.
The criteria states that the qualifying enterprise is expected to belong to a trade association or group, and be registered with the National Board for Small Scale Industries (NBSSI).
Out of the GH¢1.2 billion fund earmarked to assist businesses impacted negatively by COVID-19, GH¢600 million will be disbursed as soft loans to Medium, Small and Micro Enterprises (MSMEs), with up to a one-year moratorium and a two-year repayment period.
The rate of interest on the GH¢600 million facility is three percent.
Additionally, selected participating banks will provide negotiated counterpart funding to the tune of GH¢400 million, making, in all GH¢1 billion for disbursement under this Business Support Scheme.
The beneficiary sectors include agri and agro-businesses; manufacturing; water and sanitation; tourism and hospitality; education; food and beverages; technology; transportation; commerce and trade; healthcare and pharmaceuticals; and textiles and garments.
In order to ensure a smooth application process for all eligible candidates, application forms have been made available online on the website of NBSSI, which is www.nbssi.gov.gh.
It is also available via USSD code across all mobile networks, and applicants can also call the CAP Business Call Centre on 0302 477 777, or visit the nearest NBSSI Business Advisory Centre for assistance with their applications.