Problem statement: The number one problem a lot of startup entrepreneurs face in Nigeria is access to funding for their innovative business ideas. They even go as far as using their savings, money lent from a family member which is usually not enough, or selling the majority of their personal effects, just to start their business and keep it afloat. Is there something we at ULF can do about this?

What we want to achieve: absolutely, there is something we can do about this. We want to reduce the hassle these business owners have to go through to access loans by providing them with loans.

How we want to achieve it: We hope to achieve this by putting out a call for application and asking for some documents like a business plan, financial records, and two or more guarantors. This is to make the entrepreneur understand that businesses need structures like this (creation of a working business plan and financial projection) to succeed.

How much is needed: A total of 5 million naira($8,400) in total is required to financially support various business owners who need to take their business from idea to execution.