Oppournity is now open for Nigerians doing business to apply for a grant through a non profit organisation.
GroFin is seeking applications for its Small and Growing Business Fund. if you are a start up and needs a grant to fully actualise your dreams ,then you need to apply for GrofinGrants.
Who is Grofin? GroFin is a pioneering development financier specializing in financing and supporting small and growing businesses (SGBs) across Africa and the Middle East.
GroFin combines patient capital and specialized business support to grow emerging market enterprises.
SGB Fund: First of its kind, uncapped and unlimited-life fund to support growth of small and growing businesses in Africa. The grant is targeting small growing business in selected location.
Objectives of Growfin
To add 80 – 100 investments per year at an average deal size of USD $100,000- USD $1.5 million in local currency.
How the Fund works- The fund typically provides finance in forms of medium term loans. Over 10 years the growing SGB portfolio will sustain 32,000 employees as part of its impact.
A specialist fund manager with a proven track record and local capacity in 9 countries in Africa.
Focus on Small and Growing Businesses (SGBs) that are grossly underserved 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.
US $100+ Million
Nigeria, Ghana, Zambia, Egypt, South Africa, Kenya, Tanzania, Rwanda, Uganda
Eligibility CriteriaApplicant’s business operates in one of the following countries: Nigeria, Ghana, Zambia,Egypt, South Africa, Kenya, Tanzania, Rwanda, UgandaApplicant’s business is for profitApplicant’s business has a turnover of less than US$ 15 million and assets less than US$ 6 millionApplicants require financing between US$ 100,000 and US$ 1.5 millionThe business is owner-operated and/or the owner is substantially involved in running the business
How to Apply
Applicants can apply online through the given website.
Applications accepted all year round.
For more information and application details, search for grofin online; GroFin Grants and Funding for Small and Growing Businesses in Africa