2.1       The project will start on 18 October 2021 and end at midnight on 31 December 2023

2.2       All comments and advertisements may be featured on the Standard Bank and Thundafund social media pages or through any digital or advertising means at the sole discretion of Standard Bank and Thundafund teams to promote the movement and campaigners.

3    Who is eligible to enter the competition

3.1      This competition is aimed at all small business owners in South Africa

3.2       A participant (‘participant‘) must:

3.2.1  be 18 years or older;

3.2.2   reside in South Africa; and

3.2.3   be a small business owner; and

3.2.4 have a business bank account with Standard Bank; and

3.2.5 Women-owned business; OR

3.2.6 Youth-owned business; OR

3.2.7 Business operating in a rural area; OR

3.2.8 Business affected by a natural disaster or civil unrest e.g. flooding or the riots, civil unrest and looting in Kwa-Zulu Natal and Gauteng in 2021.

3.2.9 Standard Bank reserves the right to make the final decision whether or not a business will be eligible for matching funds.

4    How to participate in the competition

Participants must complete the following tasks to get an entry:

4.1.1         List their essential expenses right now – how much money they have available and how much they are going to need to overcome this crisis. This is prework that participants must complete on their own, which will help with completing their campaign on Thundafund.

4.1.2         Map their network – make a list of everyone that has their back (customers, friends, family, etc). This is prework that participants must complete on their own, which will help with completing their campaign on Thundafund.

4.1.3         Identify what future reward can be offered in exchange for cash – this could be product or service discounts, merchandise or even a share of future revenue streams. This is prework that participants must complete on their own, which will help with completing their campaign on Thundafund.

4.1.4        Complete registration on Thundafund’s site and accept Thundafund’s terms and conditions here (https://blog.thundafund.com/how-does-thundafund-work/terms-and-conditions/). 

4.1.5         Businesses will receive templates, guidance, cohort-based training and peer learning through Thundafund to position and create an effective campaign.

5.1.1         Submit their campaign through the online campaign process on the  Thundafund website– for review, approval and activation by Thundafund.

5.1.2         Once approved, their campaign will go live and participants can begin sharing their campaign online.)

5.1.3       Various digital media advertising of the movement will elevate their campaign, but the campaigner is solely responsible for the effectiveness of their campaign.

5.1.4       Rally their network to support their business by supporting and sharing their campaign.

6     General

6.1       All information relating to this competition and published on any promotional material will form part of these terms and conditions.

6.2       The promoter, its associated companies, its agents, contractors and sponsors assume no liability whatsoever for any direct or indirect loss or damage arising from an entrant’s participation in the competition or for any loss or damage.

6.6       By entering this competition, all participants agree to be bound by these terms and conditions, the terms and conditions of Standard Bank and by the terms and conditions of Thundafund.

6.7       The promoter is not liable for any accident, injury, harm, death, damages, costs and/or loss sustained by the prizewinner and/or any other person who participates in the prize with the prizewinner, at any point during the fulfilment of such prize.

7     Further enquiries

For more information and all questions about this competition please email us at support@thundafund.com or visit http://www.thundafund.com

Frequently Asked Questions

1. Who is Thundafund?
Thundafund is South Africa’s leading crowdfunding platform. Through Thundafund, entrepreneurs with their respective projects & ideas can raise capital and build a supportive crowd of backers through the process of crowdfunding.

2. Who is SABRI (South Africa Business Resource Institute)?
It is a non-profit company that contributes to poverty reduction and economic transformation through job creation, enterprise development, skills capacity building and focuses on the long term developmental needs of communities, young entrepreneurs and women

3. What is Crowdfunding?
Crowdfunding is an online way of raising money for your projects via small contributions by a large number of people.
There is a set time frame in which to raise the money and all the people who give money receive a reward in return for their support. 

4. Why Crowdfund?

• Debt-free, low-risk – You are not required to pay back your supporters since you are offering your supporters rewards in exchange for their contributions. Rewards are an incentive to backers to pledge their money according to how much they’re willing to contribute. 
• Marketing – Crowdfunding is a good way to market your goods or services to a larger pool of individuals who may be interested in purchasing your products.
• Increased Sales – Crowdfunding allows you to tap into a new group of potential customers which will lead to a boost of sales.

5. How do I get people to contribute towards my campaign?
Reach out to your networks and encourage people to support you and spread the word to their networks to bring the crowd in. Your networks will include;

• People closest to you, the project and the company e.g. friends, family, close supporters and trustees. Ask these people to reach out to at least 10+ other people 
• People who know you, the project or the company e.g. Mailing List, Social Media friends and followers
• Marketing towards people who would be interested in the goods or services you have to offer ’The Shoppers’
  

7. What are the terms and conditions for the matching funds?

• Each qualifying campaign can receive up to R50,000 in matching funds.
• Matching funds will be activated as soon as you have raised R3,000 on your campaign. 
• Matching funds will be applied on a 1:1 basis
  e.g. Raise R5,000 from your own network, get a R5,000 match. Your total raised will be R10,000. 

8. Are there any fees applied to my project?. 

Yes. Thundafund receives a platform fee of;

• 7% for businesses
• 5% for NGOs

3rd party fees and administration transaction fees, depending on the payment method can range from 3% – 5.5%, which is paid by the Project Creator. The payment method, EFT transfers carry a R10 fee per transaction.

9. Can one extend their campaign in case they need more time?
Yes, this is possible. This is possible by notify our support team through support@thundafund.com

10. When does one receive the funds?
One receives funds approximately 1-2 weeks after the campaign comes to an end. Thundafund takes about 4 days to follow up on any pending payments and then proceeds to reconcile all successful payments.