FATE Foundation and Standard Chartered Launch Revolving Loan Fund to Empower Young Entrepreneurs in Nigeria

In a bold move to strengthen Nigeria’s entrepreneurship ecosystem, FATE Foundation, in partnership with Future makers by Standard Chartered Bank, has launched the Revolving Loan Fund Programme, a strategic initiative designed to empower young and underserved entrepreneurs across the country.

Targeted at individuals aged 18 to 35, with a special focus on women and persons with disabilities, the programme provides low-interest loans, business training, and digital tools to improve financial literacy and management capacity.

Over the next three years, the initiative aims to support 300 entrepreneurs, tackling persistent barriers faced by Micro, Small, and Medium Enterprises (MSMEs) such as limited access to finance, inadequate management skills, and restricted market opportunities.

Senior Programme Manager at Youth Business International, Linsey Deeks, described the initiative as “a powerful example of how innovative financial solutions can unlock opportunities for underserved young entrepreneurs.” She emphasized its potential to drive sustainable enterprise and job creation across Nigeria.

Implemented in three phases, the programme adopts a holistic approach to entrepreneurship support.

Phase One trained over 500 participants through an online course covering financial literacy, business management, and digital skills.

Phase Two delivered intensive four-week in-person training to 178 entrepreneurs across Lagos, Ogun, and Oyo states, equipping them with hands-on knowledge in business development and digital finance.

Phase Three focused on access to finance reviewing 47 loan applications and disbursing a total of ₦80,050,000 to 36 entrepreneurs, enabling them to expand their businesses, create employment, and stimulate local economies.

Executive Director of FATE Foundation, Adenike Adeyemi, noted that the programme is bridging critical financial inclusion gaps.

“By removing barriers such as fund readiness and stringent collateral requirements, we are helping more entrepreneurs build sustainable businesses,” she said.

Adeyemi added that the collaboration with Futuremakers and Youth Business International reflects a shared mission to foster inclusive economic growth and empower Nigeria’s next generation of innovators.

“This initiative is not just about funding,” she added. “It’s about equipping young Nigerians with the skills, confidence, and access they need to transform their ideas into lasting enterprises.”

Through this partnership, FATE Foundation and Standard Chartered Bank are reinforcing their commitment to building a resilient and inclusive entrepreneurial landscape one that enables young Nigerians to thrive, scale, and contribute meaningfully to national development.