Nigerian Businesses Can Apply for ProMoat Capital’s ₦1.5 Million Drawbridge Grant

Nigerian business owners looking for funding to expand their operations can now apply for the ProMoat Capital Drawbridge Grant 2026, which will award a total of ₦1.5 million to two selected businesses.

The grant is designed to support existing businesses across different sectors, providing funding for activities such as purchasing inventory, acquiring equipment, marketing and hiring staff.

Unlike a business loan, the funding does not have to be repaid, and successful applicants will not be required to surrender any ownership or equity in their businesses.

What Does the Grant Offer?

The January 2027 cohort will support two businesses with the following awards:

• First-place award: ₦1,000,000
• Second-place award: ₦500,000

The funding can be used for business expansion and other growth-related activities, including purchasing stock, acquiring tools and machinery, improving marketing efforts and employing additional staff.

Who Can Apply?

The opportunity is open to Nigerian businesses operating in sectors such as:

• Agriculture and food processing
• Retail and commerce
• Manufacturing
• Fashion and creative industries
• Technology and software
• Professional and business services

Eligibility Requirements

To qualify, applicants must:

• Be at least 18 years old.
• Operate a business based in Nigeria.
• Have a business registered with the Corporate Affairs Commission (CAC), either as a business name or a limited liability company.
• Have paying customers.
• Be able to provide information about their business operations, revenue and customers.
• Explain how the grant will support business growth.

A business bank account is not compulsory at the application stage, but it is an advantage.

Importantly, the grant is intended for existing businesses, not individuals who only have an idea they wish to start. Small and young businesses can apply if they meet the requirements.

What Do Applicants Need?

Applicants should be ready to provide:

• Personal and contact details.
• Business name and CAC registration number.
• Business sector and location.
• Monthly business revenue.
• Number of people working in the business.
• Description of products or services.
• Information about their target customers.
• A clear explanation of how they intend to use the grant.

A pitch deck or separate formal business plan is not required for the initial application.

How to Apply

Interested business owners can apply by following these steps:

1. Visit the official ProMoat Capital Drawbridge Grant application page: https://www.promoatcapital.com/drawbridge-grant
2. Complete the online application form.
3. Provide the required personal and business information.
4. Explain what your business does, who your customers are and how it generates revenue.
5. Describe how you intend to use the grant to grow your business.
6. Review your information and submit your application.

Applicants will also be required to create a free account on ProMoat Capital’s small-business platform to submit and track their applications.

Application Details

Grant Provider: ProMoat Capital

Grant Amount: ₦1.5 million

Number of Beneficiaries: 2 businesses

First Prize: ₦1 million

Second Prize: ₦500,000

Application Fee: Free

Application Deadline: November 30, 2026

Expected Announcement and Payment: January 2027

Official Application Link: https://www.promoatcapital.com/drawbridge-grant

Important: The grant is non-repayable and does not require recipients to give up equity in their businesses. Applicants should use the official application page and should not pay anyone promising guaranteed selection or special access.