Loans and Microfinance

Loans are a common way of financing companies: you borrow from the investors/lenders an agreed amount (the principal) and repay the principal and interest to them after a specified period of time. Microfinance loans typically target small business owners. 

• AB Microfinance Bank Nigeria offers SME loans to entrepreneurs
• FBN Microfinance Bank offers a variety of SME products financing
• Hasal Microfinance Bank Ltd offers Hasal Empowerment Loan Product
• LAPO Microfinance Bank offers SME loans
• Baodab Microfinance Bank of Nigeria offers various options of loans

Crowdfunding

Crowdfunding is the practice of funding a project or a venture by collecting small amounts of money from a large number of people, typically through the Internet. In Ghana, the following crowd funding opportunities exist:

• Kickstarter is an online crowd-funding platform where projects of all kinds can be funded
• Fund an enterprise is Nigeria's 1^st website built specifically for fundraising activities, to support start-ups, micro, small and medium-sized enterprises in Nigeria and beyond.
• MicroVentures is an equity crowdfunding investment platform, combining the best of venture capital with equity crowdfunding.

Angel investments

Angel investments are typically the earliest equity investment in a startup company. Angel investors are almost always wealth individuals and commonly band together in investor networks. Usually, those networks are based on regionally, industry, or academic affiliation.

• The AngelList has a list of private angel investors active in Nigeria.
• Lagos Angel Network (LAN) is an association of committed members that provide early-stage seed funding and mentoring for start-up entrepreneurs.

Venture capital

Venture capital is money invested in a project in which there is a substantial element at risk, typically a new or expanding business.

• Unique Venture Capital Management Compay Ltd. is an SME-focused private venture capital investment firm.
• eVaFund is the first venture capital firm investing in African SME’s active in digital media.

Grants and funds

• The United States African Development Foundation (USADF) is an independent U.S. Government agency to support African-owned enterprises. It invests directly in community enterprises, providing seed capital and local technical support to early-stage agriculture, off-grid energy, and youth-led enterprises in Africa.

• MTN Youth Entrepreneurship Development Programme , the largest telecommunication services provider in Nigeria, provides funding for young entrepreneurs with SME loans administered by the Bank of Industry (BOI).
• The Tony Elumelu Foundation  makes long-term targeted investments in projects that have significant social or environmental benefit, as well as a financial return.
• Ventures Platform is an early-stage growth focused fund, with a blend of tech, sales, and operations, in growing their startups. They offer $20,000 in investment.

Other funding opportunities 

The Bank of Industry of Nigeria offers funds and loans to the youth at various duration and interest rates:

1. Graduate Entrepreneurship Fund - youths undergoing the mandatory one 1 year national service programme.
2. Youth Entrepreneurship Support (YES) Programme – entrepreneurs between the ages of 18 and 35 years, who must have a minimum educational qualification of an Ordinary National Diploma (OND).
3. Youth Ignite Programme - entrepreneurs above the age of 18, who have participated in the Entrepreneurship Capacity Building Programme (part of the Programme).

Adlevo is a Mauritius-based private equity fund manager founded on the belief that meaningful development in sub-Saharan Africa will be driven by the application of technology to business processes across all sectors.

TBL Mirror Fund is a private equity fund for Nigerian SMEs.

Synergy Capital Managers is a dedicated SME investor in high-growth companies in Nigeria, Ghana, Liberia and Sierra Leone.

Gust connects startups with the largest collection of investors across the world.