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Programme Description
FATE Foundation in partnership with Youth Business International (YBI) and Standard Chartered Foundation, is excited to announce the launch of the Revolving Fund Programme for Nano and Micro Enterprises. This programme 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 Programme, 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. Available between 3rd – 10th October.
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. Programme commences on 21st October 2024.
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.
- Financial Capacity Training
- Debt Loan Financing
- Business Development & Advisory Support
- Digital tools and Financial Empowerment
- Funding (Low Interest Loan of $500 to $10,000)
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.
Interested participants should meet the following criteria:
- First cohort of the Revolving Fund programme will be held in Lagos State.
- Requirements 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
Cohort 1: 35 entrepreneurs – October 21, 2024 – November 15, 2024
Cohort 2: 35 entrepreneurs – November 11, 2024 – December 4, 2024
Cohort 3: 30 entrepreneurs – January 27, 2025 – February 17, 2025
The Revolving Fund programme combines a mix of interactive enterprise training, advisory and business support services and financing to enable each participant to grow and expand their product/service.
Focus Area for Phase 1:
- Sourcing for Funding
- How to Access Funding
Focus Area for Phase 2:
- Business Growth Planning
- Business Validation
- Financial Management
- Sustainable Business Practices
Capacity Building Training
Financial Management
Sourcing Finance for Your Business
Developing a Business Plan
Developing a Business Growth Plan
Investment Readiness
Financial Sustainability Plan
Greening Your Business
Introduction to Design Thinking
Assumption Mapper Tool
Value Proposition Canvas
Financial Intelligence for startups
Access to finance tool
Developing Growth Strategies
Goalsetting
Credit History Building and Maintenance
Financial Planning and Budgeting
Problem Tree
Bank/Financial Institution Relationship management
Business Communications & Presentation for Pitching
Fireside Chat
Accessing Finance and Theory of Change Toolkits
Business Growth Advisory (accounting, legal, tax, HR, marketing, digital)
Programme Features
Enquiry?
If you have any questions related to our programmes or application procedures, we are here to help you.
Email: [email protected]
Phone Number: 07015300490
