FATE Foundation in partnership with Youth Business International (YBI) and Standard Chartered Foundation, is excited to announce the launch of the Revolving Fund Programme to support 300 Nano and Micro Enterprises for the next 3 years. This program is a part of the Futuremakers Global Youth economic empowerment initiative to support Youth businesses globally.
We’re excited to invite you to participate in the three-phase Revolving Fund Program, designed to equip you with financial literacy knowledge and access to low-interest loans. The 3 phases are:
Phase 1 – WhatsApp LMS Course: Bite-sized Financial Literacy course on WhatsApp providing foundational financial management skills to better prepare for loan opportunities.
Phase 2 – Hybrid Training Programme: Certified and shortlisted WhatsApp LMS participants will continue their learning with a 4-week hybrid training, deepening their understanding of business planning and financial management. This will help you develop skills critical for business growth and sustainability.
Phase 3 – Revolving Fund Loans: Eligible entrepreneurs from the hybrid training programme will gain access to low-interest (2%-5%) loans, with a 6-month moratorium period.
Programme Objective: The Revolving Fund Programme aims to address the financial challenges faced by small-scale businesses by offering low-interest loans, complemented by comprehensive financial literacy and management training. This approach not only provides entrepreneurs with the capital needed for business growth but also equips them with the necessary skills to manage and sustain their businesses effectively. and address the critical challenges that hinder the growth of small-scale enterprises.
Benefits
- Financial Literacy Training
- Business Development & Advisory Support
- Digital Tools and Financial Empowerment
- Funding (Low-Interest Loan from N500,000 to N10,000,000)
This programme is a unique opportunity for nano and micro business owners in Lagos State to enhance their financial skills, secure the funding necessary for growth, and connect with a network of like-minded entrepreneurs.
Requirement for Loan
- 90% class attendance and participation
- Business must be registered with CAC
- Business is viable and must have made a steady profit in the last 3 years
- Submission of a sustainable business growth plan
Target audience
Young entrepreneurs aged 18 – 35 years.
residing in Oyo State, and seeking financial empowerment
Deadline: February 17, 2025
Click HERE to Apply
