Interactive SME Funding Directory
Track your research into grants and loans for your Nigerian business.
Tony Elumelu Foundation (TEF)
- What you get: $5,000 in non-refundable seed funding, training, and mentorship.
- Who it’s for: New startups and existing young businesses (less than 5 years old) from all over Africa.
- How to apply: Applications typically open once a year on the TEFConnect portal.
Bank of Industry (BOI)
- What you get: Low-interest loans, often for purchasing equipment or for working capital.
- Who it’s for: Registered businesses in various sectors, especially manufacturing, agriculture, and creative industries.
- How to apply: Applications are done directly through the BOI portal. You will need a detailed business plan.
Development Bank of Nigeria (DBN)
- What you get: Access to more affordable loans from your regular bank.
- Who it’s for: Any SME looking for a loan.
- How to apply: You don’t apply to the DBN directly. You apply for a business loan at your commercial bank (like Access, GTB, Zenith, etc.) and ask if they offer DBN-backed loans.
AGSMEIS Loan Scheme
- What you get: Loans of up to ₦10 million at a low interest rate.
- Who it’s for: SMEs in agriculture, creative industries, and other sectors. A key requirement is to first attend a training session with an approved Entrepreneurship Development Institute (EDI).
- How to apply: First, get trained by an EDI, then apply through the official AGSMEIS portal.
Lagos State Employment Trust Fund (LSETF)
- What you get: Low-interest loans for micro, small, and medium enterprises.
- Who it’s for: Residents of Lagos State with registered businesses.
- How to apply: Applications are done through the LSETF portal.
CBN MSMEDF
- What you get: The Micro, Small and Medium Enterprises Development Fund (MSMEDF) provides low-interest loans to MSMEs through financial institutions.
- Who it’s for: MSMEs across Nigeria, with a special focus on women (60% of the fund is dedicated to them).
- How to apply: Apply through participating financial institutions (PFIs) like Microfinance Banks, Commercial Banks, etc.
SMEDAN GROWHer
- What you get: A SMEDAN and Google initiative to empower women entrepreneurs with business development services, mentorship, and access to finance.
- Who it’s for: Women-led Micro, Small and Medium Enterprises in Nigeria.
- How to apply: Through the SMEDAN portal when applications for the cohort are open.
Disclaimer: This directory is for informational purposes only. Funding programs, eligibility criteria, and application processes can change at any time. Always visit the official websites of these organizations for the most current and accurate information.
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