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Top 7 loans and grants Schemes in Nigeria
Here is top 7 loans & grants in Nigeria for business starters and entrepreneurs. You can choose any of these from this top 7 loans for Nigerians;
Tony Elumelu Entrepreneurship Programme (TEEP)
Every year, 1,000 entrepreneurs across Africa are selected by the programme out of 50,000 applicants. Each application is carefully reviewed by business experts in the industry and winners are selected based on a strong market feasibility. Each program cycle begins with an application process opened from January 1st until March 1st.
- Business must be based and established in Africa;
- Business must be for profit;
- Business must be 0-3 years old;
- Applicants must be at least 18 years and a legal resident or citizen of any African country.
YouWIN Connect Nigeria
- Applicants must be a graduate from a higher institution;
- Applicants must be between the ages of 18 and 40;
- Applicants must be a Nigerian citizen and lives in Nigeria;
- Applicants’ businesses must be located in Nigeria;
- Applicants must possess good communication, writing and reading skills. And also speaks English fluently;
- Applicants must be willing to attend all training and mentoring exercises organised by YouWin;
- Applicants must not be an employee of the Nigerian Civil Service;
- Previous YouWiN awardees are not eligible to apply again.
Bank Of Industry (BOI)
The YES programme is aimed at equipping young people with the requisite skills and knowledge to be self-employed by starting and managing their own businesses. The YES Programme comprises of:
- Eight weeks intensive online Entrepreneurship and Business Management training which has the ability to test participants’ understanding and track their progress;
- Five days in-class Entrepreneurship and Business Management training;
- Technical skills training in partnership with the various technical training and vocational institutes in the country;
- Financing the businesses by BOI under its SME Cluster initiative in consonance with the United Nations Economic Commission for Africa’s Commodity based Industrialization Strategy.
- The applicant must be a Nigerian citizen;
- Must have a viable business idea within the 40 identified clusters that is operated YES in Nigeria;
- Must be within the age limits of 18 and 35 years.
- Applicants must possess any National proof of identity like the International passport, Drivers License, National ID, Voters card;
- Must possess a minimum educational qualification of Ordinary National Diploma (OND);
- Applicant must be able to carry out the application process online.
AYE-EN Financial Grants
AYE-EN is looking to finance small business in various sectors of the economy. Winners would be awarded their respective prizes without any stake for the organizers. Although, the business owners and businesses will be duly monitored for a period of one year. The only criteria for the program are that the applicant must be a Nigerian and the business must be located in any of the 36 states of the country.
GroFin Focus on Small and Growing Businesses (SGBs) that are grossly undeserved by other funds or financiers. Delivers a unique integrated solution for patient risk capital and end-to-end business support to start-up and growing businesses at the SME base. GroFin has fund size of $100 + Million to funding Nigerian micro, small and medium business (MSMEs) across the country.
- Your business operates in one of the following countries: Nigeria, Ghana, Zambia, Egypt, South Africa, Kenya, Tanzania, Rwanda, Uganda;
- Your business has a turnover of less than $15 million and assets less than $6 million;
- You require financing between $100,000 and $1.5 million;
- The business should be operated by a sole proprietor and/or the owner is substantially involved in running the business.
Diamond Bank BET Programme
The BET Program has witnessed 6 editions with over 25 winners and over 150 business supports. The sixth edition of the program awarded Three Million Naira (N3,000,000) grants to the top 5 finalists to take their businesses to the next level.
Lagos State Entrepreneurs Trust Fund (LSETF)
As the brainchild of Governor Akinwunmi Ambode, the LSETF is committed to financially support a target of 100,000 MSMEs by 2019, creating 300,000 direct and 600,000 indirect jobs as a result. The mission is well underway with a total of 705 beneficiaries who have received support to date.
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