How to Apply for Kwara State N3m Interest-Free Loans for SMEs and Entrepreneurs
The Kwara state government is now receiving applications for its Kwapreneur support programme. The initiative is targeted at providing interest-free loans ranging from N100,000 and N3 million to young entrepreneurs in the state.
Kwapreneur is organised by the office of the Kwara State Social Investment Programme (KWASSIP). According to KWASSIP Acting General Manager, Mohammed Brimah, at least 1,200 young people will benefit from the program over the next four years.
For its first phase, Kwapreneur seeks to support the growth of 300 Kwara-based MSMEs through a 2-week capacity building, coaching and advisory workshop designed to equip businesses with the right skills to significantly improve their financial and operational outcomes.
The programme will further support the selected 300 MSMEs after the completion of the training with interest-free loans from the Kwara State Government.
Individuals or businesses applying for Kwapreneur interest-free loans must be Kwara indigenes with innovative business ideas that clearly identify the problems they solve.
Applicants should also be able to prove that their proposed solution is sustainable and scalable. The Kwapreneur program is open for Kwara-based businesses ONLY.
All candidates must be aged between 18 and 35 and duly complete the application form to stand a chance of participating in the program.
How to Apply
Step 1: Enter Your Personal Details
First, choose whether you are applying as an individual or a team. Then proceed to fill in your personal information such as your full name, email, mobile number, date of birth and business address.
Also select your highest level of education and occupation – (un)employed, student, (under)graduate or a business owner.
Step 2: Provide Business Model Information
Enter the required information as regards your proposed business idea or solution. This includes a short description of your solution, whether it’s a product and/or service and a summarised 3-year business plan.
Step 3: Fill in Your Grant History and Add Guarantor
Next up, state if you have received a grant or loan before, sponsor name and your loan repayment status.
Go on to select the loan range you’re applying for (N10,000 – N500,000; N500,000 – N1 million; or N1 million – N3 million) then add your guarantor’s name, mobile number and upload a reference letter.
Step 4: Accept Terms and Submit
This is the final stage of your application where you accept the loan declaration terms by ticking the checkbox. Click Submit to complete your application.
Application deadline is May 18, 2021.
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