Nigerian entrepreneurs seeking funding to expand their businesses can now apply for the Drawbridge Grant 2026, an initiative by ProMoat Capital offering a total of ₦1.5 million to two selected businesses.
The grant is designed to support existing Nigerian businesses with funding for growth. Unlike a conventional business loan, the money does not have to be repaid, and successful applicants will not be required to surrender any ownership or equity in their businesses.
Applications for the January 2027 cohort are open until 30 November 2026.
What Is the Drawbridge Grant?
The Drawbridge Grant is a business funding initiative organised by ProMoat Capital, an investment firm focused on small and medium-sized businesses in Nigeria and other frontier markets.
The programme provides non-repayable financial support to selected businesses. ProMoat Capital says the initiative is also intended to help it identify promising Nigerian businesses that may be considered for future investment opportunities.
However, any subsequent investment discussion is separate from the grant and entirely optional. Receiving the grant does not require a business owner to give up shares in their company.
How Much Can Businesses Receive?
For the current cohort, ProMoat Capital will award a total of ₦1.5 million to two businesses.
The grant allocation is:
First-place award: ₦1,000,000
Second-place award: ₦500,000
The grants are non-repayable. Recipients will not be required to pay back the money or surrender equity in their businesses.
The funding can be used for business growth activities, including:
Purchasing stock and inventory.
Buying equipment, tools and machinery.
Marketing and promotional activities.
Hiring staff.
Other expenses directly related to business expansion.
Applicants will be asked to explain how they intend to use the money to grow their businesses
Who Can Apply for the Drawbridge Grant?
The opportunity is open to Nigerian businesses operating across different sectors. These may include retail, agriculture, manufacturing, food processing, fashion, professional services, technology, software and other commercial activities.
According to the programme’s published eligibility requirements, applicants must:
Operate a business in Nigeria: The business must be based and operating in the country.
Have CAC registration: The business must be registered with the Corporate Affairs Commission (CAC), either as a business name or a limited liability company.
Be at least 18 years old: The applicant must be authorised to represent the business.
Provide accurate business information: Applicants should be able to explain what their business does, who their customers are and how it generates revenue.
Having paying customers is not an absolute requirement, but ProMoat Capital says businesses with paying customers stand a higher chance of being selected.
A business bank account is also not compulsory at the application stage, but it is an advantage. The grant will be paid into a bank account in the name of the business or applicant.
Importantly, the programme is not restricted to technology startups or businesses operating in a particular sector. Small and young businesses can also apply, provided they meet the registration requirement.
What Documents and Information Are Required?
The application process is relatively straightforward. Applicants do not need to submit a pitch deck or a separate formal business plan document.
However, they should be ready to provide the following information:
Full name and contact details.
Business name and CAC registration number.
Business sector and location.
Monthly business revenue.
Number of people working in the business.
Information about the products or services offered.
Description of the business’s target customers.
Whether the business has a bank account.
A clear explanation of how the grant will be used.
Applicants may also provide a website or social media link for their business.
The application form is expected to take approximately two to five minutes to complete. Applicants must also create a free account on ProMoat Capital’s small-business platform to submit and track their applications.