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FCMB Women in Business Zero Interest loan – Apply

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FCMB is offering zero percentage interest loan for women in business. The loan provides easy access to capital to grow an existing business. If you are female and run a business in Nigeria, you may be able to access a loan of up to ₦5million for a maximum tenor of 3 months or be one of the selected females to

  1. Attend our free business trainings. 
  2. Be assigned a mentor to support your business growth.

Benefits of the Offer

  1. Zero interest on loan
  2. Training
  3. Capacity building
  4. Mentoring
  5. Networking.

You could be one of the 40 women who will qualify to get access of up to ₦5million at 0% interest rate and get training/mentorship for a quarter. Applications close on 11th of October 2019.

Please note that applications after that will not be considered.

Click here to apply.

Terms & Conditions

  1. Successful applicants must be willing to undergo a 3 days training and take part in the mentorship program in which mentors are assigned to the mentees based on type and age of business. This mentorship program runs for 3 months and the mentor is expected to work with the mentee on their plans for their business and help that mentee achieve a certain level of growth by the end of the program.
  2. Successful participants who are not willing or available to undergo the training or take part in the mentorship program will not be able to proceed and will be substituted
  3. Customers who undergo training and mentorship but are not part of the loan beneficiaries will be assisted to see if they can be availed any other loan facility that will be suitable for them, provided they meet all necessary terms and conditions.
  4. Applications which come in after the deadlines will be not considered
  5. If you are a limited liability company, you must be able to provide evidence of filing of annual returns and tax payment for the current year.
  6. You must have a clean credit check.
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2019 KPMG Admission Scholarships into Nigerian Federal Universities

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KPMG, a top global tax, auditing and advisory services organization developed a program to sponsor selected candidates through their tertiary education. 

Per the KMPG website, see further information below 

Eligibility Criteria

Candidates must meet the following criteria:

  • Have completed their secondary education at a state-owned Government school within the last 2 years.
  • A minimum of 5 Distinctions (As & Bs) from their WASSCE (including English and Mathematics).
  • A minimum score of 230 in the Unified Tertiary Matriculation Examination (UTME).
  • Already have an admission letter or a provisional letter of admission to a federal university in Nigeria.

How to Apply

Send an email to NG-FMKPMGScholarship@ng.kpmg.com with the following details: Name, Residential Address, E-mail Address, Phone Number.

Also attach the following documents in a zipped folder:

  • WASSCE Certificate
  • UTME Result Slip
  • JAMB Result Slip
  • Provisional Letter of Admission/Letter of Admission to a Federal University in Nigeria
  • Birth Certificate
  • Certificate of Origin

Kindly state the code KSP2019 in the subject of the email.

*The deadline for application is 25th October 2019

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Need Funding? Discover funding category applicable to your business

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If you’re an entrepreneur and ever wondered types of funding you should target for you business, the first step would be to identify the stage your business falls into. Assuming you already know that, the next step is to to look at funding options available to you. Below is a list of funding sources applicable to different stages of a business venture: 

Idea stage: Many entrepreneurs belong in this category. This group aspire to start a business or want to switch over from paid employment to entrepreneurship.

Idea stages are characterized by 

  • Only idea for product or service exists
  • Product or service is not yet validated

Idea stage business sources of raising capital include bootstrapping, friends and family, partnerships, angel investors, incubators, business plan competitions, charities and foundations, government programs, upfront payments and private placement. 

 

Start-up stage: Businesses in this are operational and have validated their product or service.

Start up stages are characterized by 

  • Initial sales of product already achieved
  • Customer base is small
  • Business is in survival mode
  • Requires funding to stay alive and gain traction

Start-up stage business sources of raising capital include bootstrapping, friends and family, partnerships, angel investors, incubators, business plan competitions, charities and foundations, government programs, international development funds, early stage venture capital firms, crowd funding, upfront payments and private placement. 

 

Growth stage:  In this stage, business traction is well established, market demand for product or service is growing at a gradual pace.  

Growth stages are characterized by 

  • Increasing number of customers
  • Growing customer base
  • Need funding to increase size and capacity
  • Typically profitable 

Growth stage businesses usually raise capital from partnerships, VCs, Angel Investors, Development Funds, Private Equity, Government programs, Banks, Private placement, Charities and organizations.

 

Mature stage:  Business organizations in this category typically do not look for funding unless they require funds to diversify into new markets or industry. Mature stage businesses have sufficient capital through their well established operations.

Mature stage businesses are characterized by

  • large and loyal customer base
  • Average and predictable sales growth
  • product saturation in market

Mature stage businesses can raise capital if they require, through banks. private equity, international development funds, private placement and IPO.

Now you have a clearer idea about suitable funding sources for your business, you are able to make informed targeting decisions when it’s time to raise that capital for your business.

     

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