Sunday, August 1st, 2021

SMALL BUSINESS GRANT WORTH OVER N600K FOR NIGERIANS

Small business grant worth over Six Hundred Thousand Naira (N600, 000) is now up for grabs for entrepreneurs in Nigeria whose business activity has been affected by the coronavirus pandemic.

The small business grants programme is courtesy of Facebook. Yes, you heard that right!

Facebook is investing over one hundred million dollars in grants to support black-owned businesses, creators and non-profits all over the world.

And over thirty thousand (30,000) eligible small businesses in more than thirty (30) countries from across the world will be able to receive the grant from Facebook.

Are you going to be one of the beneficiaries?

Oga CEO will be telling you more on how to apply and more importantly, how you can make it to the finish line.

Just imagine having Six Hundred Thousand Naira in your account just like that!

Mind you, it is not a Loan…

And applications start from 2pm on 24 August 2020 to 5pm on 04 September 2020. DON’T DELAY.

So, first, let’s tell you about the small business grants programme. According to a statement from Facebook, which reads thus; ‘‘we know that your business may be experiencing disruptions resulting from the global outbreak of COVID-19, especially companies that are running cross-border business. We’ve heard that a little financial support can go a long way, so we’re offering USD 100M in cash grants and ad credits to help during this time.’’

WATCH OUT FOR NEW JOB OFFERS HERE.

Now, the purpose of the small business grant programme is to do the following;

  1. Help keep your workforce going strong.
  2. Help with rent and operational costs
  1. Connect with more customers.
  1. Support your community.

How much is at stake?

According to a statement on their website, they put it this way;

“We know that your business may be experiencing disruptions resulting from the global outbreak of COVID-19. We’ve heard that a little financial support can go a long way, so we’re offering Naira 400,128 in cash grants and Naira 240,077 in ad credits to help during this challenging time.”

What are the application criteria?

To be eligible to apply, you must:

  • Be a for-profit business
  • Have between 2 and 50 employees
  • Have been in business for over a year
  • Have experienced challenges from COVID-19
  • Be in or near a location where Facebook operates

Eligible Locations

All locations in Nigeria are eligible.

Documentation

This stage is very important. This is will determine whether or not if you will get the small business grant. When completing your application, you will be required to supply the following, so get them ready.

  1. Your most recent financial statements or accounts along with a legal document proving that your business has been established for at least one year, such as your annual tax return, business registration document (CAC documents), business license or partnership agreement. Please ensure to provide full financial statements or accounts for your business.
  2. At a minimum, the financial statements you provide should include a balance sheet and an income statement/profit or loss statement. A balance sheet typically includes a summary of all of your business’ assets and liabilities. For example assets include items such as cash, balances due from your customers, buildings owned by your business, stock held by your business etc. For example, liabilities include balances due to your suppliers, loans due to financial institutions etc. An income statement/profit or loss statement includes a summary of your income, expenses and profit for a year. Abridged financial statements or accounts will not be accepted.

PLEASE NOTE: OGA CEO IS WILLING TO HELP YOU PREPARE YOUR FINANCIAL STATEMENT (BALANCE SHEET AND PROFIT AND LOSS STATEMENT FOR A TOKEN of TEN THOUSAND NAIRA (N10,000), SEND A MAIL TO howfar@ogaceo.com TO GET STARTED.

  1. When prompted to do so, please upload these two documents in a PDF format.
  2. You may be asked to provide further documents at a later stage in the process.

Government official

You cannot apply on behalf of your business if you are a current government official or relative of a government official. You will be asked to confirm you are not a government official as part of the application form.

A government official includes officials, employees, representatives or anyone else acting in an official capacity for or on behalf of a government, government agency or other administrative authority or judicial or quasi-judicial body (whether elected or appointed, including for example, legislators, regulators, police, judges, tribunal members, federal, state or local council members), state-owned/controlled enterprises and executives at state-controlled companies; political parties or campaigns; public international organizations (including for example, UN officials); and candidates for public office; any person acting on behalf of or any relatives of any of those listed.

 Application window

We will be accepting applications from your country from 2pm on 24 August 2020 to 5pm on 04 September 2020.

Conclusion

This programme has been designed to help small businesses overcome the challenges posed by COVID-19. The information you provide in the application form will allow us to understand how your business has been affected by COVID-19, and how it could benefit from a grant during this difficult time.

All personally identifiable information supplied in this Application Form will be processed in accordance with the Facebook Data Policy available here.

When completing the application form, please consider the following:

The information you provide will be examined objectively and in a fair manner, with all applicants treated equally.

When answering a question in a ‘free text’ field, please provide the essential information in a comprehensive but concise manner, adhering to the character limits provided.

Please click Apply to begin the application process here!

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