10 Best Places To Get Grants in Nigeria For Your Business 2021 Easily.
Are you a business person looking for money to fund your business or do you have a business ideal looking for a capital start-up that business? You are at the right place because we will be walking you through the best places to acquire grants for your business in Nigeria, so make sure you read until the end.
We all know the best means of acquiring or getting capital to fund a business is through a grant because it does not require collateral or a refund of the money which means you are not required to pay back.
What is a Grant?
A grant is defined as money or capital given to an individual or a business for a specific reason. While a business grant is equally an amount of money given to a business for the purpose of expanding and augmenting the enterprise.
Grants are normally given by the government or organizations and may be either refundable or not depending on the type.
With this, its beneficial to know the 10 Best Places To Get Grants in Nigeria For Your Business 2021 Easily as we will explain the eligibility and criteria on how to apply for it.
Things To Consider Before Applying For Any Grant
Below are things to consider before you can apply for any grant
Before you apply for any grant, you have to prepare first which involves asking yourself questions like, Why do you need the grant? Is it for a business, idea, or what? What is the plan? How will the grant help your business or idea? You need to know all these. If you can comfortably answer these questions, then you are ready because Grants are only given to individuals or businesses whom the giver believes will make a big impact.
Then the next thing to consider after preparation is Eligibility. You have to be sure you are eligible to apply for that grant, if not you will be wasting your time. Some grants require you to have an existing business, some are agricultural grants, health grants, research grants, etc.
Next is the requirement, what does the organization require from applicants before they can be given the grant. Some requirements include years in business, certain documents being needed, or anything in particular. So make sure you meet those requirements before moving ahead to apply.
Submission of your application
After you have successfully met the above requirements, the next thing is to submit your application. So all you need to do is to go to the official website of the organization to submit your form or it may also require you to visit the office or mailing depending on what the organization wants.
10 Best Places To Get Grants in Nigeria For Your Business 2021
Below are 8 best places a business owner can get a grant to fund his/her business
1. The United States African Development Foundation (USADF)
The United States African Development Foundation (USADF) is an independent U.S. Government agency established by the U.S. Congress to support and invest in African-owned and African-led enterprises that improve the lives and livelihoods of people in underserved communities in Africa. The USADF offers grants of up to $250,000 for operational assistance, enterprise expansion, and market linkage to early-stage agriculture, energy, and youth-led enterprises that benefit under-served communities in Sub-Saharan Africa.
To apply for a USADF grant or to learn more about USADF click here
2. Africa Enterprise Challenge Fund (AECF) grants
The AECF is a development institution that supports businesses to innovate, create jobs, leverage investments and markets in an effort to create resilience and sustainable incomes in rural and marginalized communities in Africa. Launched in 2008, the AECF has mobilized over US $356 million to date, leveraging more than US $658 million in matching capital and improving the lives of more than 16 million people in 2017 alone through jobs and increased household incomes. AECF has so far supported 268 companies in 26 countries in sub-Saharan Africa across 40 value chains in our focal sectors of agribusiness and renewable energy.
Areas of Investment
The AECF targets investments in the following sectors:
- Agriculture and agribusiness
- Renewable energy and adaptations to climate change
- Rural financial services and communications systems that support the two sectors
To apply and learn more about the AECF grants click here.
3. The Rockefeller foundation grants
The Rockefeller Foundation is a private foundation with its headquarters in New York. With an interest in making the world a better place, the foundation offers grants aimed at solving different problems facing our world. The Rockefeller Foundation works to promote the well-being of humanity throughout the world.
To learn more about Rockefeller foundation grant click here
4. Center for International Private Enterprise (CIPE) Grant
The Center for International Private Enterprise (CIPE) is a non-profit, private-sector organization that provides financial support in the form of grants to non-government business organizations such as chambers of commerce, employers’ federations, trade associations, and private enterprise-oriented research groups throughout the world. Grants are made directly to non-U.S. business organizations on a private basis, without government intervention. In 1983, CIPE was designated by the U.S.
The many goals of CIPE include: Helping build independent business organizations, increasing the base of business talent in the developing world, and many more.
To learn more or to apply for a CIPE grant click here
5. Bill & Melinda Gates Foundation Grants
The Bill & Melinda Gates Foundation (BMGF) founded in 2000 as William H. Gates Foundation is a philanthropic organization with a goal to improve the quality of life worldwide. It is available worldwide but with a very big presence in Africa. And as the name suggests, it is owned and funded by veteran Billionaire, Bill Gates and his wife, Melinda Gates.
As of 2017, the foundation was reportedly worth US$50.7 billion in assets, making it the largest privately-owned philanthropic organization in the world.
The foundation regularly gives grants to organizations. Organizations in Africa and the United States who offer solutions to global problems can benefit from these grants.
The focus of the grants is mostly on humanity. Agriculture grants are also regularly offered.
To check on available grants which are regularly updated, You can visit the Bill & Melinda Gates Foundation grants page here
6. African Women’s Development Fund (AWDF) grants
The African Women’s Development Fund (AWDF) is a grantmaking foundation that supports local, national, and regional women’s organizations working towards the empowerment of African women and the promotion and realization of their rights. By specializing in grant-making and focused tailored movement-building programmes, we work to strengthen and support the work of African women’s organizations.
So if your organization or ideas are related to women empowerment and promotion you can apply.
To learn more about the AWDF grant click here
7. International Monetary Fund (IMF) grants
The International Monetary Fund (IMF) is an organization of 190 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.
The International Monetary Fund (IMF) gives grants to non-profit organizations working to help the poorest and disadvantaged emerge from very low-income, socially dependent, and other detrimental and dysfunctional situations.
The average grant award is $10,000.
To apply or learn more about the IMF grant click here
8. World Bank grants
The world bank provides grants to businesses and entrepreneurs worldwide. But most worldwide grants are in partnership with governments. So to access the world bank grants, you should be up to date with news regarding the latest world bank grants available to your country.
However, Civil Society organizations can still apply for funding from the world bank.
To learn more click here