- Are you a graduate?
- Do you have a viable business idea?
- Do you already have a small exisiting business?
- Are you ready to take charge of your financial future?
If you answered yes to this questions, Enterprise Graduate Empowerment Scheme is for YOU! (EGES)
TERMS AND CONDITIONS
- Selection for this scheme is strictly based on the decision of the selection panel and independent of the entrepreneurship training
- This facility is an unsecured term loan to bridge funding gaps of SMEs’ owned by fresh University and Polytechnic Graduates) that provide non-cyclical products & services
- The product is targeted at business owned by graduates of universities and polytechnics who have completed the mandatory national youth service and are unemployed
- This scheme is limited to young and budding SME’s in the embryonic stage of their business life cycle
- Your specic business/proposed start-up must have been certied by both our strategic partners and your tertiary institution, before selection will be considered
- Qualied start-up businesses include but are not limited to; Trading; Service & Manufacturing of Consumer staples; Health care & health related business; Utilities; leather products; laundry services; fashion; beauty & grooming Services etc
- You will be required to make up 30% of your required capital
- Enterprise Bank, upon the applicant meeting all necessary criteria, will fund 70% of applicant’s start-up capital
- The loan tenure for this scheme does NOT exceed two years
- The beneciary must have opened an Enterprise Graduate Empowerment Savings Scheme (EGESS) account
- Evidence of having successfully undergone entrepreneurial developmental courses in the university/Polytechnic (where applicable) and certication by any of the Bank’s strategic partner for this scheme, must be presented for consideration.
- Business proposal must be certied as satisfactory by strategic partner and the Bank’s review panel for the scheme.
- This facility shall be accessible to University and Polytechnic graduates who graduated not more than 5 years ago
The following documentation will be required from interested participants for eligibility:
- Duly accepted offer letter for the facility
- Duly executed SME application form
- Irrevocable letter of undertaking to domicile all proceeds to Enterprise Bank
- Request letter
- Key man insurance by EBL appointed insurance company
- Satisfactory credit bureau report
- Satisfactory conrmation of Applicant’s Degree certicate
- 6 months statement of account where applicable
- Customer asset report where applicable- this report shows a summary of the discounted value of the customers asset and liability
- Letter of undertaking not to secure additional facility from any other bank without the written consent of Enterprise Bank
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