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Home » Covid relief fund- Did the Pandemic affect your Business? Funding Options you should try out!

Covid relief fund- Did the Pandemic affect your Business? Funding Options you should try out!

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The Covid 19 pandemic has no doubt brought about quite a bit of hardship to individuals and businesses. The impact of the hit is mostly felt my small businesses and entrepreneurs who ordinarily struggle to keep a profit margin. As part of our commitment to provide businesses with resources and opportunities to mitigate the impact of the pandemic, Sidebrief has collated a list of funding options Entrepreneurs and small scall busineses can take advantage of to provide relief in this hard time. Covid relief fund

Business Funding Options

1.  Africa’s Young Entrepreneur Empowerment Nigeria (AYEEN)

AYEEN is an entrepreneurial empowerment and funding platforms launched to mentor, guide, provide funding for smart business ideas in Nigeria. The AYEEN program attracts over 25,000 applications from young Nigerian entrepreneurs cut across the 36 states annually.

However, its unique model means you can get funding for your business idea or accepted into the mentorship program where you network, learn, and master key business skills essential to starting, running and expanding your business.


  • Must be running a business or has a viable business idea
  • Open to all Nigerian entrepreneurs aged 18 and above.
  • Must reside in Nigeria

2. GroFin Grants for Small and Medium Business

 GroFin is a private development finance institution focused on providing medium-term finance loans and business support for small and medium-sized businesses in the manufacturing, agribusiness, education, healthcare, and key service sectors (energy, water, sanitation)

Since its launch in 2004, GroFin has supported over 700 SMEs, sustaining 89, 740 jobs and is present in 14 countries in the sub-saharan and MENA regions.


  • Eligible sectors: healthcare, manufacturing, agribusiness, education, or in these key service sectors – energy, water, waste, recycling, sanitation.
  • Your business must be in any of the countries where their offices are located
  • You need a medium-term loan of 100k to 1.5M US dollars.
  • Business must be making a social impact – creating jobs, benefiting the environment, empowering women.

3. African Women Development Fund

African Women Development Fund is a pan-African female-only grant organization that seeks to support women rights and women-led organizations on the continent.

The fund provides grants to organizations tackling the issues of body and health rights, women’s economic security and justice, and Leadership, participation, and peace.


  • Must be led by a woman and have majority of its staff and board being women
  • Must be duly registered in an African country
  • Must have been in existence for at least 3 years
  • Must have the needed organizational structures for effective implementation of the project
  • Must have an appreciable financial management system to properly account for funds received
  • Must be capable of reporting back on business outcome

4. Unilever Young Entrepreneurs Award

Unilever Young Entrepreneurs Award is perfect for business owners who need funding to scale and might be just the right opportunity you need to take your business to the next level.

The program seeks to recognize and support young innovators providing solutions to some of the world’s challenges and to help them achieve scale for impact. Since it’s launch, the initiative has reached over 3700 young entrepreneurs with 37 winners receiving funding and support.


  • Initiatives relating to one or more of the three categories they focusing on:
  • Improve people’s health and well-being
  • Improve the health of the planet
  • Contribute to a fairer and more socially inclusive world
  • Aged between 18 and 35.

5. Bank of Industry (BOI)

 The Youth Entrepreneurship Support (YES) Programme is BOI’s effort at addressing the worrisome phenomenon of youth unemployment in Nigeria by building the capacity of the youths and funding their business ideas.

The YES programme is aimed at equipping young people with the requisite skills and knowledge to be self-employed by starting and managing their own businesses.


  •  The applicant must be a Nigerian.
  • Must have a viable business idea within the 40 identified clusters that is operated, or will operate in Nigeria.
  • Must be within the age limits of 18 and 35. (proof of identity: International passport/Drivers License/National ID/Voters card required).
  • Must possess a minimum educational qualification of Ordinary National Diploma (OND).
  • Applicants must be able to carry out the application process online.

6. Lendigo

Lendigo is a financial technology firm with a vision to become Nigeria’s leading financial institution dedicated to SMEs through technology and innovative practices.

They provide easy and fast access to working capital to Nigerian SMEs according to their individual requirements and suited to their business and finance needs.


LAPO Microfinance Bank has embraced the challenge of serving the Micro, Small and Medium Enterprises (MSMEs) with their responsive, pacesetting and innovative financial products.

LAPO Small Business Loan (SBL) is designed to meet the capital needs of small and medium scale entrepreneurs who require more funds for expansion. Business owners can apply for loans without collateral.

8. Cedar Microfinance Bank

Cedar Microfinance Bank is a Financial Institution which recognizes the different needs of their unique and different customers and provides suitable financial services. Cedar Business Loans is specifically designed for business owners who need quick loans to fund their business.

9.  Lidya 

Lidya is an online platform that provides businesses access to finance. The platform offers small and medium-sized businesses with unsecured loans of between $500 and $15,000.

Lidya uses technology and algorithms to assess the risk before granting the loans, it allows them to offer financial products to these customers at a low cost.

10. C24 Limited

C24 is a microfinance institution that was established with the sole mission to create an avenue for people to actualize opportunities around them, by helping them access cash loans when they need it.

We understand that battling with setbacks cased to CoronaVirus or the Covid 19 Pandamic can be a daunting task but we are here to help. Sidebrief has a team of professionals ready to help you ensure your business is above board and in compliance with the requirements of these financial institutions.

For further enquiries & assistance, do not hesitate to contact us.


Phone: 0901808129

Address: 90 Olonode Street, Alagomeji, Yaba, Lagos State.

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