How to Apply for Kwara State N3 million Interest-Free Loans for Small and Medium-Sized Enterprises and Entrepreneurs
Kwara State N3 million Interest-Free Loans
Applications for the Kwara state government's Kwapreneur support programme are now being accepted. The initiative aims to provide young entrepreneurs in the state with interest-free loans ranging from N100,000 to N3 million.
Kwapreneur is organized by the Kwara State Social Investment Programme's office (KWASSIP). According to Mohammed Brimah, Acting General Manager of KWASSIP, the program will benefit at least 1,200 young people over the next four years.
Kwapreneur's first phase aims to support the growth of 300 Kwara-based MSMEs by providing a two-week capacity building, coaching, and advisory workshop that equips businesses with the necessary skills to significantly improve their financial and operational outcomes.
Following the completion of the training, the program will provide interest-free loans to the 300 selected MSMEs by the Kwara State Government.
Criteria for Eligibility
Individuals or businesses applying for Kwapreneur interest-free loans must be natives of Kwara with innovative business ideas that clearly define the problems they solve.
Additionally, applicants must demonstrate that their proposed solution is sustainable and scalable. The Kwapreneur program is open ONLY to businesses located in Kwara.
To be considered for the program, candidates must be between the ages of 18 and 35 and complete the application form completely.
How to Apply
All applications for the Kwapreneur Empowerment Program must be submitted online via the program's official website. Here is where you can begin your application.
Step 1: Provide Your Personal Information
To begin, determine whether you are applying individually or as a team. After that, enter your personal information, including your full name, email address, mobile phone number, date of birth, and business address.
Additionally, select your highest level of education and occupation – (un)employed, student, (under)graduate, or business owner – from the drop-down menus.
Step 2: Provide Information on the Business Model
Enter the necessary details about your proposed business idea or solution. This section includes a summary of your solution, whether it is a product or service, as well as a three-year business plan.
Step 3: Complete the Grant History Form and Add a Guarantor
Following that, indicate whether you have previously received a grant or loan, the sponsor's name, and the status of your loan repayment.
Continue by selecting your loan range (N10,000 – N500,000; N500,000 – N1 million; or N1 million – N3 million), then adding your guarantor's name, mobile number, and uploading a reference letter.
Step 4: Accept Terms and Submit
This is the final stage of your application, where you check the box to accept the loan declaration terms. To submit your application, click Submit.
The deadline for applications is May 18, 2021.
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