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GroFin is an establishment founded in the year 2004 as a funder base for small and growing businesses. It serves as a channel for dissipation of helping funds to start-up companies and businesses around mapped out areas around the world, it has the function of managing the funds for and on behalf of 24 international investors, development funders, banks, corporates and foundations.
GroFin has its advantage a large fund base in excess of US$400 million; thanks to the investors, which it gives out to interested businesses in need of funds. GroFin also a pioneer financier, that is; handles original and first-hand financing to businesses
As a multi-partnering organization, GroFin can boast of sustainability and stability on many grounds, one to be that they not only have multi-channeled inflow of ready-to-give-out funds, but the inflow is diversified between many sectors of the economy and this ensures durability of funding. There is also little limits to the type of business to which GroFin invests in with the funds they receive, the options are wide and funds are accessible to interested business owners and CEO’s alike.
Some very vital information about GroFin is enumerated below
- It was founded in 2004 and therefore has a track record of success from that time up till now. It has a standard image and growing fast its base.
- It has 14 outlet offices on-the-ground and local teams in those offices across a span of 12 countries.
- It engages in the funding of small and growing businesses (SBGs) across Africa and the Middle East, areas are carefully selected to be those mostly in need of such funding.
- The financial potential of GroFin is such that funding is met to the specification and satisfaction of the investee within an agreed period of time.
- The time duration for the investment could span 4 to 7 years of fruitful investment into the business.
- Financing is given to businesses with a funding need between US$100,100 and US$1,500,000 in today’s currency worth. This can also be bargained in the cash exchange equivalent of the local currency country.
- GroFin does not take total control of the running of the business but allows management of fund by the business for the stipulated time.
- The businesses which GroFin fund are those that have direct economic and developmental value in the lives of the larger community.
Criteria for selection
- The business has to be a small or growing business in Africa and the Middle East.
- They should have strategic growth plans for a period of 4 years and above.
- They should have their business within Africa and the Middle East and within the areas specified by GroFin.
- The business should be strong enough to be able to accommodate large fund up to One Hundred Thousand Dollars or its equivalent in the local currency of the country.
- The business should apply directly to GroFin to enable them access fund.
To apply for finance:
To apply for GroFin funding click here
To get information about the organization, visit their official site