The organisation offers microfinance grants for survivalist youth entrepreneurship and cooperative grants for greater participation of youth in the cooperatives sector.
The objective of the grant programme is to provide young entrepreneurs with an opportunity to access both financial and non-financial business development support to establish their survivalist businesses.
Lending criteria: The application process for the NYDA grant includes: Be under the age of 35. The applicants must have the necessary skills and experience or a potential skill appropriate for the enterprise that they conduct or intend to conduct.
Priority sectors: The types of businesses assisted through the grant programme are mainly: artisan skilled entrepreneurs. These include, but are not limited to, motor mechanics and panel beaters, electricians, plumbers, domestic appliance repair services, beauticians, hairdressers, cleaning companies, small-scale recycling companies, street vendors, car washes and others.
The NYDA grant finance starts from R1 000 to a maximum of R200 000 for any individual or youth cooperative. Young people interested in accessing the grant programme will have to commit to participating in the NYDA mentorship and voucher programme for a minimum of two years. The program consists of both pre and post-approval assistance.