USADF/DFC ASBC Programme 2022 For SMEs Apply Now

USADF/DFC ASBC Programme 2022 for SMEs Apply Now

Are you an African, do you own an early or growth stage business that you feel would perform better with more funding? If yes, application for the USADF/DFC African Small Business Catalyst Programme 2022 is on for SMEs like you to take part and get the opportunity to increase your business funding and partnership you need to scale your business to a new height. See details about the program below

Read also: NG-CARES Grant Application 2022

About USADF/DFC ASBC Programme

The U.S. International Development Finance Corporation (DFC) and U.S. African Development Foundation (USADF) have launched the African Small Business Catalyst (ASBC) to bolster early growth-stage small and medium enterprises (SMEs) in sub-Saharan Africa.

ASBC is a business accelerator that supports SMEs with loans ranging from USD$100,000 to USD$1 million and offers technical assistance (TA) and grants up to USD$100,000. ASBC targets SMEs in sub-Saharan African countries within the agriculture, food security, healthcare, and education sectors, as well as water, sanitation, and hygiene (WASH) with special consideration to SMEs that tackle the climate crisis and address gender equity considerations through their work.

ASBC assists its partners with capital/grants, mentoring, training, and TA to help them develop their business models, strengthen their management skills, expand their market reach, and deepen their impact.

Who Can Apply for the USDF ASBC Program

You can apply for this program if your business is based in any country within sub-Saharan Africa and under any of the under-listed categories;

Agriculture & food security,
Education,
Healthcare, and water,
Sanitation,
Hygiene (WASH) sectors.
Special consideration will be given to SMEs that address climate and gender

Benefits of the USDF ASBC Program

Debt investments up to USD$1 million
Grant capital up to USD$100,000
Intensive mentoring and training programs
Targeted technical assistance (e.g., technology)
Network of impact investors
Impact first, catalytic partner (no dilution or claims on IP)

Business Requirements

Your business is eligible to apply if it meets these requirements;

ASBC seeks to partner with for-profit businesses that are registered locally and majority African-owned. Ambitious, full-time management teams with a clear vision that are driven to grow their business and deepen their social impact are ideal candidates. Businesses must have at least two years of operations and be revenue positive with a scalable product/service.

Terms of Investment(for Loan)

Simple agreements
No security
Fixed interest rates
Tenors from 1-3 years
Shorter-term bridge loans are possible
Balloon/bullet repayments
Support for currency risk (hedging instruments)
Limited covenants
Typical turnaround 3-4 months, if you are shortlisted

How the Accelerator Program Work(for grants)

In addition to investment capital(loan) above, ASBC will provide grants up to USD$100,000 (total per SME).
Successful applicants will also be paired with one of our mentoring and management training partners for a 6–12-month intensive program.
A technical assistance (TA) plan will be drawn-up and specific support designed around your needs and arranged with experts/consultants.

How to Apply for USADF/DFC ASBC Programme 2022

Interested and eligible candidates should complete their application form online by visiting the application portal here

Application Deadline

The deadline to apply is April 15, 2022

Further information can be found here

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