Federal Government Grant Available in 2020 and How to Apply Online [Read]

Filed in Business by on April 26, 2020 0 Comments

Federal Government Grant Available in 2020 – The major challenge most young entrepreneurs and whosoever that are interested in setting up a business most often faced is the funding and how to raise capital. Here is a full list and how to apply for the federal government grants available in Nigeria. Kindly read through this long post and see what to do.

Federal Government Grant Available in 2020

With your beautiful business ideas and vision without funding, it is all fruitless. Many agencies and NGOs has been saddled mostly with helping young entrepreneurs and implementing their vision. Some have successfully helped while some are still battling with fund to assist these young entrepreneurs.

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Even though most of the grants have not been fully utilized and as a result of corruption that have eaten deep into most nations’ economy sector. Most of these funds have being side fund and use for personal affairs by officers involved. Most time, these funds are not available to the less privilege and those who have no one in the government.

What is Grant?

Grants is described as a means of funding a proposed project either by cooperate body or an individual, it can also be seen in the light of aid given to able body and right-thinking business models to implement or support their business so as to provide cushion to such an individual. This fund is majorly aimed at upcoming entrepreneurs as a means of showing support by the government to such person.

Difference between Grants and Loans

Most time, people are scared of taking a grants all in the name of being scared of paying a return or interest on given money because they see grants as loans.

Grants are quite different from other kind or type of Federal government financial assistance, grants are non-refundable assistance while other forms of financial assistance are refundable and at times it attracts the additional amount of interest for a specific period of time. There are different types of Federal government grants with their requirements and also their method or mode of application. Below is a list of some of the federal government grants in Nigeria and how to apply for them.

Full list of Federal Government Grants Available in 2020

Here are list of Federal Government Grants available for all that needs capital or fund to start up his/her business.

FG Grants 2020 for Agriculture

This kind of grant is the financial support from the federal government of Nigeria to support the agricultural sector and all those that wish to venture into agricultural produce. A farmer who has registered under this association are eligible for this type of grant.

How to Apply
  • Visit the online platform opened for the grants or obtain the form is available places;
  • Make sure you submit all required information by the federal government agency;
  • While submitting the required information, be faithful to supply accurate information.

READ ALSO: Agricultural Loan Grant 2020 by the Federal Government | Read How to Apply Online

Small Business Innovation Research Program grants

This is a type of Grant that are given out to small Scale business owners for the development of technology, also for scientific entrepreneurship. You or your organization must be in line with the purpose and aim of these grants.

How to Apply
  • Your company or organization must be a researching one;
  • Must be commercially innovative.

Cybertipline Grant

This is the type of grant by the Department of Homeland Security, They give grants to small businesses that provide services and programs that help eradicate sex trafficking and exploitation of children.

How to Apply

Visit the federal government Online portal to fill the application form.

Bank of Industry (BOI)

Bank of Industry (BOI) lunched a youth empowerment program where young entrepreneurs are empowered and grants are being released to them to begin a small-scale business.

How to Apply
  • You must be a Nigerian;
  • You must have a business idea that will operate in Nigeria c. Must be between 18-35 ages;
  • Must latest possess OND;
  • The application should be submitted online.

YouWin connect Nigeria

This is a yearly program Initiated by the Nigerian government to support ideas and businesses that are already running, job creation and wealth creation.

How to Apply

Applicants are required to submit business plans and go through a series of mentorship programs.

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FG Grant from World Bank 2020

This is grant scheme with the assistance of World Bank to the federal republic of Nigeria. The grant is open to all eligible individuals. Read here to see more details.

Social intervention fund from FG

These are for artisans and owners of SMEs across the nation. The business owners can only access a maximum of N100, 000 at three percent interest rate on a year.

How to Apply

The requirements for accessing the fund include membership of a business organization.

 N-SIP Grants

This National Social Investment Program (N-SIP) by the federal government of Nigeria for reducing poverty, unemployment.

How to Apply

Kindly visit the online platform for application.

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Government enterprise & Empowerment Programme (GEEP)

This was created to provide micro-credit facilities for men and women in order to reduce poverty among rural area and provide skills development, training, and business support, rebuilding the economies of rural areas through financial grants.

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