Small Business Owners in This State to Receive N120,000 to N480,000 Grant

Small Business Owners in This State to Receive N120,000 to N480,000 Grant

An application process for small businesses has been launched in conjunction with the World Bank and the Bank of Industry for the NG-CARES/Oyo-CARES initiative. The purpose of this program is to assist small companies impacted by the COVID-19 pandemic.

Important Information:

Goal: Offer financial assistance to small enterprises to help them recover from COVID-19.

Financial Assistance:

  – Operational awards from N120,000 and N480,000.

– Debt relief awards for borrowers with outstanding loans, ranging from N150,000 to N300,000.

Locations: Ibadan North, Ogbomoso North, and Ibadan South-West are the three local governments where the enumeration is being carried out in clusters.

Financed by the World Bank, NG-CARES is a $750 million Federal Government credit project designed to lessen the impact of COVID-19 on vulnerable populations.

Eligibility: Small company owners who experienced significant COVID-19-related operational disruptions.

Particularly in the wake of the COVID-19 outbreak, these programs highlight the Oyo State government’s dedication to promoting entrepreneurship, lowering unemployment, and assisting small enterprises.