Business
Kwara Govt shortlists 170 young businesses for non-interest loan
The Kwara Government has shortlisted 170 young business owners to receive varying non-interest loans under its Kwapreneurs scheme.
Mr Mohammed Brimah, the Acting General Manager, Kwara State Social Investment Programmes (KWASSIPs), said this in a statement on Friday in Ilorin.
Braimah said that the business pitches of the 170 successful applicants were adjudged viable following rounds of drilling by a panel of experts which assessed 375 business prospects that turned up for the interview sessions.
He said that 170 pitches had been recommended to get between N150,000 and N3 million, a decision made based on their own proposals and judgment of the interview panel by experts.
“Businesses selected for the prized loan of N3 million will be invited to pitch to another set of judges at the grand finale at a date to be announced soon.
“The total loans awarded by the panel stand at N101,450,000 in line with the recommendations of the committee,” Brimah said.
The acting general manager also said there were plans by the social investment office to organise training for applicants on business management and strategies to facilitate their growth.
According to him, this is part of its efforts to build a set of young business leaders from the largest demographics in the state.
He said that successful applicants should proceed as directed with the documentation process from June 4.
He added that applicants are to produce means of identification that should include their Utility Bill, Bank Verification Number; CAC Certificate (for registered businesses) and two passport photographs.
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