Will Your Business Be Part Of Those Getting Between $100,000 to $1,500,000 Investments From Grofin?
Grofin, an international organisation that was established to provide support in the form of investments, loans, and technical support to enterprises whose operations facilitate growth in economies, is accepting applications from businesses in specific sectors seeking loans and investments to grow their businesses. This financial support will range from $100,000 to a maximum of $1,500,000, and is provided to underserved community enterprises that have high prospects for growth.
Grofin is working with a cash-base of about $500 million dollars and has so far invested in at least 675 SMEs across their operating countries, whom are to repay the amounts within a period of 3 to 8 years.
These investments/loans are expected to help accelerate business growth, increase overall competitiveness, promote investment, sustainably increase the number of jobs created, empower women, and benefit the environment.
To be considered for the Grofin investment, you must meet the following criteria:
- Geography: Grofin finances and support businesses that operate in countries where GroFin has an operational office, namely; in South Africa, Zambia, Ghana, Nigeria, Ivory Coast, Senegal, Uganda, Kenya, Tanzania, Rwanda, Egypt, Oman, Iraq, and Jordan, to enable them to offer regular value-adding business support. Applications from businesses that operate in other countries cannot be considered.
- Sectors of focus: The business operates in one of the investment focus sectors of Education, Healthcare, Agri-processing, Manufacturing, Energy, Water/Sanitation and labour-intensive businesses. Other sectors can be considered on a case-by-case basis.
- Business Profile: Grofin typically invests in businesses with these maturity profiles:
- Early stage (1-3 years)
Start-ups are considered when they are backed by an entrepreneur with significant experience, track record and material financial commitment to the venture.
- Early maturity (3-6 years)
- Mature (>6 years)
- Early stage (1-3 years)
If your business does not fall into any of the categories above, you may still be able to apply for an investment on a case-by-case basis.
It is also important to know that GroFin considers businesses in all sectors with the exception of those activities that have significant potential negative social and environmental impacts. They also do not invest in financial intermediation businesses or non-profits such as NGOs, and community groups. Primary agriculture is only considered if it takes place in a controlled environment and at scale. In this case, if you run a green-farming business, you can also apply.
You can apply at any time of the year provided to meet their criteria.
So to ensure you are one of the registered businesses to benefit from it, click here to visit the website and learn more.
How Much Investment/Loan Can You Get From Grofin?
As earlier mentioned, the sum ranges from $100,000 to $1,500,000 per business.
You can learn more about Grofin by visiting their website.
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What are your thoughts on the Grofin investments/loans that will be given to qualified entrepreneurs? Let me know by leaving a comment below.