Oleander House Limited (OHL) Launches the OHL Instant Impact Grant to Boost Small Businesses in Nigeria, Via Crunchfundings Platform
In January 2024, Oleander House Limited (OHL) unveiled the OHL Instant Impact Grant, a new initiative designed to empower small businesses with the financial support needed to expand their operations. Recognizing the pivotal role small businesses play in driving economic growth, job creation, innovation, and community development, OHL is committed to helping these enterprises overcome the common challenge of accessing capital.
The Need for the OHL Instant Impact Grant
Small businesses are the backbone of any thriving economy. They foster job creation, fuel innovation, and contribute significantly to the development of local communities. Despite their crucial role, many small businesses struggle to secure the necessary capital to invest in their operations, limiting their ability to take on more sales orders, expand their customer base, and grow. The OHL Instant Impact Grant was established to address these challenges, providing much-needed financial support to small businesses to purchase raw materials, equipment, and other essential resources.
Grant Details and Application Process
The OHL Instant Impact Grant program spanned three months and offered grants of up to N200,000 to ten small businesses. The application period was open from January 1, 2024, to January 31, 2024, welcoming entries from small businesses across various niches in Nigeria.
Eligibility Criteria
To qualify for this grant, applicants had to meet the following criteria:
The business must have been in operation for at least six months.
The business must be based and operating in Nigeria.
The business must present a viable plan for investing the grant funds to enhance their operational capacity and take on more sales orders.
Funding Criteria
This grant was specifically aimed at businesses with no prior history of receiving awards. Selection of the winners was based on a thorough screening process conducted by a panel of experts.
Application and Selection Process
From the 29 applications received, 11 were successfully submitted and reviewed. After a meticulous screening process, two outstanding winners were chosen to receive the grant. The winners were announced on July 22, 2024, through Crunchfundings’ website and social media platforms. Both winners demonstrated exceptional potential and met all the eligibility and funding criteria.
Meet the Winners
Chukwu Testimony
Hailing from Imo State, Chukwu Testimony is an exemplary entrepreneur balancing two successful careers as a baker and a realtor. She specializes in creating customized cakes and assorted pastries for special occasions, providing food in bowls and food trays, and conducting catering workshops and training classes. Her innovative approach and dedication to her craft have significantly contributed to her business’s growth and success.
Sadiq Hadi
A graduate of Federal Polytechnic Zamfara from Okene LGA, Kogi State, Sadiq Hadi is a dedicated and innovative entrepreneur in the poultry farming industry. His commitment to sustainable farming practices and producing high-quality poultry products has been instrumental in the growth of his business. Sadiq’s innovative techniques and unwavering dedication have not only propelled his business forward but also made a significant impact on his local community.
Conclusion
The OHL Instant Impact Grant exemplifies Oleander House Limited’s commitment to supporting small businesses and fostering economic growth in Nigeria. By providing essential financial support, OHL is helping these enterprises overcome capital constraints, expand their operations, and achieve their full potential. The success of Chukwu Testimony and Sadiq Hadi highlights the positive impact this grant can have on small businesses, encouraging continued innovation and community development across the nation.
