General Operating Rules:
Applications for support will be considered by the Board not more than once a month. Frequency will be determined by availability of funds and the volume of request for support.
Eligibility criteria for accessing support:
- Any poor, homeless and motherless persons otherwise persons approved at the discretion of the Board.
- All applications must be supported by 2 referees who must be willingly to make written representation on behalf of the applicant and the referee must be over 30 years of age.
- Each application should be submitted with an amount of N500 (Five hundred naira only).
Acquisition of skills/experience for Post Graduate students:
The company may consider applications from post graduate students if they can prove that they have not worked for over one year and also have a water tight business plan/model that be self sustaining within 1 year and a proposal to serve the company after 2 years. This option us at the discretion of the board but the homeless, motherless and poor take priority.
Start-Up/Growth Funds:
- Request for funds to support business ventures will be by completion of an application form and supported with a business plan and N100,000 set up fee.
- Funding will be in the form of a loan and or equity in the business. Interest will be payable on all loans (not less than the rate of inflation as determined by the Office of National Statistics.
- The company will provide additional support to prospective applicants by way of helping to fine tune their business plan and identify ways of managing identified business risks. The goal of the company is to help individuals to succeed.
- The company will organise half yearly seminars to inform members of the public about progress made, how the company works and opportunities available to them via the company.
- The company will develop and provide an application form to be used by applicants.
- The company reserves the right to pay invoices directly to support applicants rather than to give cash to the applicant.