LOAN TERMS:
Lender
LOAN TERMS:
The Tony Elumelu Foundation
Eligibility
LOAN TERMS:
The grant is open to all African entrepreneurs whose startups or businesses are based in any African country. The business idea must not be more than 3 years old
Loan Limit
LOAN TERMS:
The initial grant is $5,000, followed by another $5,000 in funding and subsequent introduction to other funding sources as your business develops and needs to expand.
Interest Rate
LOAN TERMS:
The initial grant is interest free. Subsequent funding and and introduction to funding opportunities have varying terms and conditions on a case by case basis.
Max Tenor
LOAN TERMS:
The grant has no tenor as it is not meant to be returned. Subsequent funding could have varying terms and conditions on a case by case basis.
Security Required
LOAN TERMS:
Since the grant is not a loan, no security is required
Documents Required
LOAN TERMS:
Completed Grant Application on the designated portal before the deadline.
Applicant’s photo and means of identification
Complete the 12 weeks intensive online training and mentorship.
Submission of Business Plan.
Other terms & conditions as issued by the donors/organisers.
Approval Time
LOAN TERMS:
Results of shortlisted winners are released based on the programme time table as announced by the programme organisers.
