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1.1. Specific Exclusions
1.1.1. The NYDA shall not consider the following for Grant:
                • Enterprises which require less than R1, 000;
                • Partial funding, co-funding or funding towards a deposit for a loan from another lending establishment;
                • Contract finance and bridging finance;
                • Is owned by NYDA staff members, Board Committee Members or Member of the Accounting Authority;
                • Where a relative of a staff member applies for a Grant the said individual shall recuse himself or herself from all pre and post approval activities;
                • Where the staff, immediate family of the staff at that branch is a shareholder/associate or partner of the business for which the Grant is required;
                • Fall within the gambling, gaming or sex industries, and/or operates illegal activities;
                • Tobacco as a primary income generator;
                •  Alcohol as a primary income generator;
                •  Are investment trusts or venture capital / private equity funds;
                •  Require finance to substitute an existing financier;
                •  Require NYDA to issue a guarantee in favour of a third party;
                •  Require seed capital for research and development;
                •  Shareholders/members are natural persons who lack contractual capacity by virtue of:
                             being of unsound mind;
                             have a record of fraud and/or corruption;
                             Where the owner/applicant is an un-rehabilitated insolvent;
                             Where the owner/applicant is attending school other than tertiary;
                             Pyramid sales schemes;
                •  NYDA shall not provide grant funding for vehicles
               
1.1.2. The grant recipient shall not use NYDA funds to do the following:
                •  To pay a bribe;
                •  Re-finance any existing loans;
                •  Any material purpose not contained in the application for grant or defined during due diligence stage and detailed in the approved Terms & Conditions, unless where written approval has been granted by NYDA;
                •  To settle overdue or outstanding South African Revenue Service liabilities, whether current or non- current.
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