Welcome to the Gold Fields/South Deep Enterprise Development (ED) Fund.
This is an enterprise development partnership between Gold Fields/South Deep and ProfitShare Partners designed to provide short-term loans as financial support to enterprises from our host communities
These funds will be used to extend debt financing on flexible terms to selected, eligible enterprises that do not fit the traditional underwriting criteria of “general commercial banking requirements”.
The Fund will focus on supporting enterprises operating in support of the South Deep Ventures – Goldfields supply chain.
South Deep Ventures – Goldfields aims to support hundreds of early-stage businesses and to stimulate the creation of at least 1 000 net permanent jobs over the period of XX years.
More information to help you
Our founders noticed a deficiency in the market. Recent trends have shown that banks and/or financial institutions generally provide finance and/or credit to those who do not necessarily need it. The provisions and restrictions of the National Credit Act (NCA) mean that Small to Medium Enterprises (SMEs) often do not qualify for a facility because they have not been in existence for long enough to meet certain criteria – irrespective of the profitability of the business, the experience of the persons in control of the business, or the opportunities that may be presented to a start-up or SME.
ProfitShare Partners assists small, medium, and micro-enterprises in an effort to promote the spirit of entrepreneurship by enabling them to seize opportunities while empowering them to grow the South African economy. In short, we provide short-term, fixed-term funding to applicants who, in our view, have the requisite business acumen, opportunities and drive to grow their businesses in circumstances where they would not qualify for traditional funding by using our innovative criteria, novel security and pioneering funding model.
Through our funding solutions, we may not be investing in your business but we are investing in you. Consider ProfitShare Partners a funding collaborator whom you can approach not only in a time of need but more specifically to capitalise on your opportunities, experience and knowledge. We are your joint venture partner for the short-term.
No. ProfitShare Partners invests in a specific transaction and not your company. We will fund the costs of your deliverables directly to your supplier/s and profit share on that specific transaction only.
The minimum amount is R250,000.00. This means your costs to complete the Purchase Order must exceed R250,000.00 (Two Hundred and Fifty Thousand Rand).
We will only consider amounts for less than R250,000.00 at our discretion and in the event that your Annual Turnover exceeds R1,000,000.00 (One Million Rand) OR if you are able to satisfy us that your net asset value, fairly valued, exceeds R 1, 000,000.00.
We do not charge interest for a standard transaction. ProfitShare Partners is not a Bank, Financial Institution or Credit Provider.
We become your joint venture partner for a particular transaction (or transactions) for a share in the guaranteed profits of the transaction. We charge a deal management fee and recover legal costs that will be detailed in an obligation-free quote.
In the event that you breach any terms of the Agreement which may be entered into with us, we charge default interest at a rate equivalent to the Prime Lending rate plus 5% over and above our share of the profit. We may also charge interest on such percentage of the profit as agreed but yet unpaid.
If you have a legitimate Purchase Order from a large, established corporate, State-Owned Enterprise (SOE) and/or government entity or municipality, we will consider providing equity to cover the costs of the Purchase Order on certain terms and conditions.
We do not partner on high performance-based contracts such as construction.
No, ProfitShare Partners does not loan funds to the company. In the event that your application is successful and you agree to our quotation, terms and conditions, we will pay the costs payable to your suppliers.
No, ProfitShare Partners does not take controlling shares of your company. The control and day-to-day running of your company remains your responsibility and prerogative, subject to certain ‘Oversight’ and/or ‘Step-in’ Rights which we may elect to invoke. The extent of these rights will be fully detailed in the contract that will be presented to you once you have accepted our quotation. These rights can only be invoked in the event that you breach one or more of the provisions of your agreement with us.
An escrow account is a transaction account that is opened with a large commercial bank in your company’s name, however, we hold the administration rights of the account.
Yes, we will help you in fulfilling the conditions of the purchase order in order to get paid timeously and deliver according to the requirements of the order. We can also project manage the process. This is subject to the requirements of ProfitShare Partners.
ProfitShare Partners is a short-term equity partner. If the term agreed upon is exceeded, penalty charges will apply. Penalty fees will be recorded on the obligation-free quote.