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Softoption Business Loan Scheme For Young Women Entrepreneurs

Introduction

Over the last 10 years, the Centre for Information Technology and Development (CITAD) has empowered hundreds women and girls with both ICT skills and entrepreneurship with the hope of turning them into successful entrepreneurs, setting up and running their own small scale businesses either ICT-based or non-ICT that leverage ICTs to make them effective and successful. To support them in actualizing their entrepreneurship dreams, CITAD has now introduced a Softoption Business Loan Scheme for Young Women Entrepreneurs.

Objectives

The objectives of the loan scheme are:

  1. Provide easily accessible loan to deserving beneficiaries of our entrepreneurship programmes
  2. To contribute to job creation by helping to nurture small scale enterprises by women
  3. To further consolidate efforts at reducing the gender digital divide by enhancing the chances of young women to leverage ICTs for their economic empowerment

The Softoption Business Loan

This is a short term facility available to women who have gone through our entrepreneurship training programmes. The size is between N50, 000 to N100, 000 and repayable between 12 to 18 months. Repayment period are flexible and based on the amount and installment payment rate.

The loan is not for buy machinery or major tools and so business plan should not include buying machinery and tools.

Qualification

An interested young woman must meet the following conditions:

  1. Must have undergone the Digital Livelihood training or any digital entrepreneurship training of CITAD
  2. Must have a CAC registered enterprise
  3. Must have acceptable business plan proposal
  4. Must have two guarantors that would serve as sureties to the beneficiary and would bear responsibility for repayment if the beneficiary fails to repay
  5. Must be between the age of 18-30 years old

Operations

Application forms would be available from CITAD. Completed applications would be submitted along with business plan and copy of the candidate’s certificate. A team would then evaluate the business plan and judge its suitability and potentials for growth and sustainability.

Although all businesses with potential for success are eligible, preference would be given to either ICT-based ones or those with clear use of ICTs.

For more information contact info@citad.org or phone 08091922203.

About Abdulazzez YZ

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