GTE SIDE HUSTLE FUNDING
Side Hustle Funding
GTE is mindful of the funding challenges many new venture experience. We are aware of the red-tape that makes it almost impossible to get funding from banks and Developmental Funding Institutions (DFI). One of the reasons some ventures do not attract investors is because their funding needs are “too small”.
GTE SIDE HUSTLE Funding (SHF) Network
It is for that reason that GTE has established a SIDE HUSTLE Funding(SHF) Network. SHF is a network of private individuals who want to support small business ventures that can give them passive income. The funding interest range between R20K & R250K per project.
How Does It Work
- Business ventures with potential are evaluated and a full due diligence is done by GTE
- A business model is developed to establish sustainability of the concept
- Upon selection, the concept gets presented to a network of SHF for investment
- GTE remains the administrator of the business relationship:
- To the funder on Monthly basis for the first year then on quarterly basis in year two.
- Hand over: In year Three the project gets handed over to the partners for direct management
Cost of Service & Application Process
- Application for business assessment: R350 – non refundable
- Due diligence: Cost would vary depending on what is required – This amount will be paid for by the investor
- Monthly management fee: For the 2 years of managing and reporting on the business an monthly fee of between R1 200,00 and R3 000.00
- This includes accountability for the following services, which are offered by GTE Service providers:
- Financial Management – Management Accounts
- Human Resources Support & compliances
- Legal advise
- Activations and marketing
- This includes accountability for the following services, which are offered by GTE Service providers: