ProMoat Capital has opened applications for its Drawbridge Grant, offering two Nigerian businesses ₦1 million and ₦500,000 in January 2027.
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The grants are not loans, and recipients will not surrender any equity in their businesses. Applications close on November 30, 2026.
The investment firm said the initiative is designed to support small and medium-sized businesses while helping it identify promising enterprises for possible future investment. Any investment discussion would be separate from the grant and would be voluntary.
The first-place business will receive ₦1 million, while the second-place winner will get ₦500,000. The money can be used for business growth, including purchasing stock, equipment and tools, marketing or hiring staff.
Who can apply?
Applicants must meet the following requirements:
• Operate a business in Nigeria. • Have paying customers and generate revenue. • Have a business registered with the Corporate Affairs Commission (CAC), either as a business name or a company. • Operate in any sector, including retail, agriculture, manufacturing, services or software.
Having a business bank account is not compulsory, but ProMoat Capital says it will count in an applicant’s favour. The account would also be used to receive the grant.
Applicants will create a free account on the company’s small-business platform to track their application. The company says there are no repayment or equity conditions attached to the grant.
The grant is open to businesses of different sizes and sectors, but applicants should provide accurate information and a clear explanation of how the funding would support growth rather than cover unrelated personal expenses or bills.
How the selection will work
The application form takes about two to five minutes to complete. Applicants do not need to submit a pitch deck or a separate business plan.
ProMoat Capital will review applications in December and contact shortlisted businesses for initial interviews by phone or video call. Finalists will have further interviews in early January, focusing on their customers, business figures and plans for using the grant.
The two winners will be announced and paid by the end of January 2027. The company says applicants who are shortlisted will be contacted in December.
How to apply
- Visit https://www.promoatcapital.com/drawbridge-grant#apply.
- Complete the application form with your personal and business details, including your CAC registration number, sector, location, monthly revenue and team size.
- Explain what your business does, who your customers are and how you intend to use the grant.
- Submit your application before November 30, 2026.
