27/05/2020
Dear CLIENTS
The Corona Virus and related lockdown has likely caused significant strain for your business.
Be assured that I will do everything in my power to ensure that you participate in the many economic stimulus packages for example more than R200 billion was made available to support businesses just like yours.
As your accountant and trusted business advisor I would like to set up an online call to discuss the options available. These may include:
1. An application to one of the four big banks for a short-term loan to fund operational costs.
2. Debt relief funding from the Department of Small Business Development.
3. A business growth facility through SEFA.
4. The National Empowerment Fund for black empowered businesses.
5. Funds from the IDC for essential supplies.
6. The Solidarity Fund.
7. South African Future Trust to fund employee costs.
8. Sukuma Relief Fund to fund operational costs.
9. Sector relief funding for tourism, sports, arts & culture, and agriculture.
10. The UIF-Covid-19 TERS National Disaster fund to support salaries.
11. Various tax relief measures.
To speed up your application process you should consider providing me with the following information as soon as possible. Alternatively, I can assist you in collating the various items:
1. An engagement letter requesting me to start the application process.
2. A summary of your business model, structure and organogram.
3. A short explanation as to how the lockdown has affected your business.
4. For the period March 2019 – February 2020 bank statements, invoices and receipts, list of debtors, list of creditors, list of assets and list of liabilities.
5. If available a completed trial balance. We can prepare this for you.
6. A cash flow projection for the period March 2020 – February 2021.
7. A tax clearance certificate.
8. IT34 of the latest completed tax year.
9. IRP5s as issued to the directors.
10. Proof of compliance to UIF.
11. Tax returns for the period ending February 2020.
12. Proof of business registration if a company.
13. Proof of shareholding. nationality and gender of employees.
14. F**A documents.
15. Certified ID copies of directors.
16. Copy of lease agreement or similar.
17. Banking details of employees if applying for payroll relief.
18. Statement of other funders if you already receive support.
19. Detailed breakdown of overheads: salaries, rent, etc
Once you have provided me with the above, I will review the information and prepare a set of financial statements, and assist you in completing the application forms for the funding that you have chosen, and qualify for.
I have reduced my hourly fee to support my clients during this time and will be able to assist you at a rate of R250 per hour. I estimate that it will take approximately 8 hours to complete the work, but this is subject to change depending on the completeness of the information received from you.
I also enclose an engagement letter should you want me to proceed with the application asap.
Looking forward to discussing these options with you. The funds are limited so you need to make sure you submit your application as soon as possible.
Kind regards
EDWIN MAKUTU
0820516390
SAIBA(BAP)(SA)7875
