Excited to be attending the BDSP event in Abuja
Someone sent me the link to OPEC Fund and I decided to dig deep into it.
D-Prize receives applications from interested applicants twice a year. This is the second batch for this year.
In this write-up, I want to chronicle my journey from training and my award of licence as a certified and accreditation as a business development service provider (BDSP).
The businesses, ideas and startups (B.I.S) grant programme for 2021 is live and applications are being received.
Applicants across Africa who scaled through to the Pitching stage of the TEF Entrepreneurship Programme Application process had until yesterday 7th September to submit their pitch videos.
It has been a rigorous process that started since January. In fact, some people started the journey since January. 2020 and because of the COVID-19 pandemic last year, the programme was suspended.
The application portal for the 7th cohort of the Tony Elumelu Foundation Entrepreneurship Programme was now open on 1st January 2020.
The Tony Elumelu Foundation (TEF)—Africa’s leading philanthropy focused on empowering African entrepreneurs—is looking for the most innovative business ideas across the African continent.
“You are eligible to apply if you have a business idea or a start-up under three years of existence in any sector and in any country across Africa” says an email sent out to people on their mailing list on 31st December, 2020..
One could be selected to join their current 9,038 beneficiaries from across 54 African countries and receive:
1. Business Training
3. $5,000 non-refundable seed capital
4. Global Networking Opportunities
The application portal opened January 1 and closes midnight, March 31, 2021.
About Specta Loan
Specta loan is a digital lending platform offered by Sterling bank to give loans to profiled business owners and salary earners in Nigeria.
It seeks to provide a more convenient way to get an instant online loan in Nigeria, and credits by using standardized data processing techniques and analytics to review loan applications and eliminate the difficulties that come with the traditional lending system.
Specta loan gives you access to loans up to N5,000,000 without paperwork or collateral, and you will receive the funds within five minutes.
This feature makes it a top loan product in Nigeria.
Specta Loan Website
The platform operates nationwide and offers loans to all salary earners without considering their occupation.
It provides salary advance, asset acquisition, and personal loans (rent, education, wedding, medical, etc). An important thing to note when youare applying for a Specta loan is that you must be part of an organization.
With Specta, you do not need collaterals, guarantors or a visit to any office to get your loan approved and funds disbursed. Once application is complete, scoring is instant, disbursement done in less than 5 minutes.
Specta Loan Interest Rate and Repayment
Interest rates on Specta Loan largely depend on the loan package you opt for. However, they range from 20% – 30% per annum.
Repayment also depends on the package you’ve chosen and thee refund has a tenor of 1 – 4 years.
You can set up a monthly repayment plan to enable you to pay back at your comfort. Also, the following fees are charged on all loans.
- Management fee (maximum 1%)
- Commitment fee (maximum 1%)
- Insurance fee (1% flat on salary advance and personal loans)
- Household/ Asset acquisition (7% flat)
Specta Loan App
The app is available for just Android mobile devices on the Google Play Store with a star rating of just 2.6/5.0. This could mean that users are not entirely satisfied with the functionalities of the app, and you may be better off accessing loans through the website instead.
Specta has the following packages to serve you:
SpectaXtreme: is for everyone; business owners, salaried workers and more with no profiling necessary. You can get up to 2 Million Naira, one-year maximum tenor and interest rate between 26 – 30% per annum, irrespective of Bank.
Specta Basic: This package is open to only business owners who have a Sterling bank account and salaried employees (regardless of their bank). It offers up to 5 million with a maximum tenor of 4 years and flexible interest rates.
Specta Prime: This package allows you to earn on your investments while you lend for urgent needs. You can borrow in the following currencies; Dollars, Naira, Euro and Pounds.
Specta Allawee: Youth corp members are not left out as this package enables corpers access funds to expand and develop their entrepreneurial dreams.
Specta Quick Cash: This loan package is open to everyone irrespective of their banks. It offers up to N20,000 quick cash to individuals based on their transaction history and social media reputation.
Specta also offers loans for business under the loan package
Specta4Business, and this offer is available to small, medium and large enterprises.
Specta Loan Requirements
The Specta loan package you choose determines the condition, but generally, you will need the following:
- A bank account number (sometimes only Sterling is accepted)
- Bank Verification Number
- A valid means of identification
- Valid email address
HOW TO APPLY FOR A SPECTA LOAN
To apply for a Specta loan, follow these procedures
Request to get profiled either as an individual or a business by sending an email to Specta
- Select the loan package that you find suitable
- Begin the application by clicking on the loan offer
- Fill out the application form and submit
If you are eligible and the application is successful, your account will be credited immediately.
Specta Loan is just one out of the numerous platforms for accessing quick online loans in Nigeria. With an interest rate in the range of 20 – 30%, we think it’s really on the high side. Other loan sources you might want to check out include: Fairmoney, Palmcredit, Quickteller, C24 loan, Carbon Paylater,Fint loan, Renmoney Nigeria and Specta loan.
A rating of 2.6 on Google Play Store is really low for an app that is supposed to cover all your loan needs. Therefore, if you really have to give Specta Loan a try, you might want to go through their website.
This feature makes it a top loan product in Nigeria.
You are to enter your names and your BVN. Automatically on the next page your date of birth would be displayed taken from your BVN. You then enter the other details required on the page.
Next you select Geo-political zone, State of origin, LGA and educational level.
Select your training centre, tell how you heard about NYIF and then tick to declare that the information you provided is true and correct and also declare that you have never been convicted of any financial crime in the last 10 years.
When submitted successfully, you’re going to see a congratulatory message that “your request has been submitted successfully”.
You now wait until you hear from them.
The United States Consulate General in Lagos on Tuesday announced a call for applications for the 2020 Academy for Women Entrepreneurs (AWE), a U.S. Government initiative that supports women entrepreneurs around the world.
The Consulate-General said in a statement that AWE, which first edition was held in Lagos in September last year, “is a component of the White House Women’s Global Development and Prosperity Initiative, designed to empower women worldwide to fulfill their economic potential, thereby creating conditions for increased stability, security, and prosperity for all”
According to a statement, in the second annual AWE, 120 female entrepreneurs from across Southern Nigeria would be selected to receive virtual and in-person training and mentoring.
“To support the comprehensive rehabilitation and reintegration of returned migrants, we will select 20 female returnees to take part in the program.
During the intensive program scheduled to run from November 2020 to March 2021, successful applicants will receive lessons on business management, network with like-minded entrepreneurs and mentors, and learn the practical skills required to create and run successful and sustainable businesses.
United States Consulate Acting Public Affairs Officer, Jennifer Foltz, explained that the goal of the Academy for Women Entrepreneurs was to teach women around the world to become successful entrepreneurs.
According to her, amid the COVID-19 pandemic and its impact on the global economy, the US Consulate General aims to work with the AWE participants to develop their businesses.
One of the U.S. government’s goals is to promote entrepreneurship worldwide. Through the Academy for Women Entrepreneurs, we are doing just that by giving ambitious businesswomen the skills they need to take their ventures to the next level. For this year’s program, we encourage motivated and self-driven female entrepreneurs to apply ,” Foltz said.
Leading local business leaders will help facilitate the workshops. Also, participants will receive access to DreamBuilder, a blended business-training course developed through a partnership between Arizona State University’s Thunderbird School of Global Management and global copper mining company Freeport-McMoRan.
The U.S. Consulate General has partnered with Ascend Studios Foundation to administer this program. Chief Executive Officer of Ascend Studios Foundation, Ms. Inya Lawal, said “We are excited that the U.S. Consulate General in Lagos has partnered with us for the second time to implement this important program tailored for women’s economic empowerment.
With the challenges and opportunities the COVID-19 pandemic has presented, alot more women are looking for new ways to pivot their businesses, and AWE is on the lookout for such women.
Female entrepreneurs interested in participating in the AWE program can apply at no cost by filling out the application form. Application closes on November 8, 2020.
The AWE is a component of the White House Women’s Global Development and Prosperity Initiative, designed to empower women worldwide to fulfill their economic potential, thereby creating conditions for increased stability, security, and prosperity for all.
The first edition of the program was held in Lagos in September 2019.