Grants are non-refundable and repayable assistance to upcoming Business Mogul who have interest but are limited by funding and machinery.
Grants can be given by large organizations, Non- governmental organizations, government, wealthy individuals.
List of Government grants;
1. Government Enterprise and empowerment Programs (GEEP): The are created to provide micro-credit to reduce poverty among rural areas and provide skill development.
2. Government National social investment program (N-SIP): This grant I’d for the reduction of poverty and unemployment.
3. Social intervention fund of the federal government: Here, grants are given at the maximum of #100,000 at 3% interest a year.
4. Federal government grant application from world Bank: This is a grant scheme with the assistance of the world Bank to the federal republic of Nigeria.
5. Bank of Industry (BOI): It is a youth empowerment program where young people are empowered and grants are being released to them to start a small-scale business.
6. Youwin connect Nigeria: the support ideas and businesses that are already running. The help in job and wealth creation.
7. United States African Development foundation (USADF): The are independent federal agency of the United States established to provide financial and technical aid to African entrepreneurs. Up to $250,000 is given as assistance.
8. African women Development fund (AWDF): The support local and national women’s organisation that works towards the empowerment of African women.
Organisations or ideas that are related to women empowerment have an edge on this one.
HOW TO APPLY.
- Search online for available grants.
- Prepare: you should be able to answer questions like, why you need the grant? What are your business ideas? And the economic impact of your business.
- Eligibility: Some grants are limited to location and scope. Some are agricultural, health and research based. Some may still need age range, business certification and owners certification.
- Requirements: Years in business and documents.
- Application: this can be done through online space, website or visiting offices.
These are means of reducing poverty and helping researchers.
