ProMoat Capital Drawbridge Grant 2026 (Up to ₦1 Million in Business Grants)
Job Description
Applications are open for the ProMoat Capital Drawbridge Grant 2026, which will support two Nigerian businesses with non-repayable funding in the January 2027 cohort. The first-place business will receive ₦1,000,000, while the second-place business will receive ₦500,000.
The grant is open to CAC-registered businesses in any sector, provided they have paying customers and generate actual revenue. Successful applicants will retain full ownership of their businesses and will not be required to repay the grants.
About ProMoat Capital
ProMoat Capital is an investment firm focused on small and medium-sized businesses in frontier markets, beginning with Nigeria. The firm supports businesses with real customers, existing revenue and practical opportunities for growth.
About The ProMoat Capital Drawbridge Grant 2026
The Drawbridge Grant is a business-growth funding programme for operating Nigerian businesses. It is designed for enterprises that already have customers and revenue, rather than businesses that are still at the idea stage.
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Cohort: January 2027
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Total funding: ₦1,500,000
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First place: ₦1,000,000
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Second place: ₦500,000
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Location: Nigeria
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Format: Online application, followed by phone or video interviews for shortlisted businesses
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Application deadline: 31 October 2026
Grant funding is non-repayable and does not require recipients to surrender equity. The grant is separate from ProMoat Capital’s investment activities. Selected businesses may be invited to discuss a possible investment, but participation in that discussion is optional and separate from receiving the grant.
Eligible Business Sectors
Businesses from any sector may apply. Examples of eligible areas include:
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Retail
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Agriculture
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Manufacturing
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Services
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Software
The list is not limited to these sectors. The key requirement is that the business is operating in Nigeria, has paying customers and is generating real business revenue.
Eligibility And Requirements
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The applicant must operate a business in Nigeria.
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The business must be registered with the Corporate Affairs Commission as either a business name or a company.
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The business must have paying customers.
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The business must generate actual revenue.
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The applicant must create a free account on ProMoat Capital’s small-business platform to track the application.
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The applicant must agree to the grant terms and conditions.
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The applicant must agree to the Habaqa app’s terms of use and privacy policy.
A dedicated business bank account is not compulsory. However, having one counts in the applicant’s favour and would be used to receive the grant if the business is selected.
Permitted Use Of Grant Funds
Applicants must explain how they intend to use the funding to grow their businesses. Eligible growth-related expenses include:
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Stock and inventory
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Equipment and tools
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Marketing
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Staff-related expenses
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Other business-growth expenses described in the application
The proposed use of funds should be connected to the business’s operations and growth needs. Applicants should be prepared to explain why the requested spending is important and how it will support the business.
Benefits
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First-place grant of ₦1,000,000.
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Second-place grant of ₦500,000.
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Non-repayable funding.
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No equity surrender or ownership transfer.
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Funding that may be directed towards inventory, equipment, marketing, staff and other approved growth expenses.
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Optional discussion of potential investment, separate from the grant.
Selection And Interviews
Every application is reviewed by ProMoat Capital’s investment team. The application takes approximately 20 minutes to complete, and applicants do not need to prepare a pitch deck or formal business plan document.
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Application review: ProMoat Capital’s investment team assesses submitted applications.
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Initial interviews: Shortlisted businesses will be contacted in November 2026 for an interview by phone or video call. The discussion will focus on the business.
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Finalist interviews: Finalist interviews will take place in December 2026 and will cover customers, financial performance and the proposed use of the grant.
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Announcement and payment: The two successful businesses will be announced and paid in January 2027.
Applicants should ensure that their business information, revenue details and proposed use of funds are accurate and consistent, as these areas will be relevant during the interview stages.
Requirements
-
The applicant must operate a business in Nigeria.
-
The business must be registered with the Corporate Affairs Commission as either a business name or a company.
-
The business must have paying customers.
-
The business must generate actual revenue.
-
The applicant must create a free account on ProMoat Capital’s small-business platform to track the application.
-
The applicant must agree to the grant terms and conditions.
-
The applicant must agree to the Habaqa app’s terms of use and privacy policy.
A dedicated business bank account is not compulsory. However, having one counts in the applicant’s favour and would be used to receive the grant if the business is selected.
Permitted Use Of Grant Funds
Applicants must explain how they intend to use the funding to grow their businesses. Eligible growth-related expenses include:
-
Stock and inventory
-
Equipment and tools
-
Marketing
-
Staff-related expenses
-
Other business-growth expenses described in the application
The proposed use of funds should be connected to the business’s operations and growth needs. Applicants should be prepared to explain why the requested spending is important and how it will support the business.
Benefits
-
First-place grant of ₦1,000,000.
-
Second-place grant of ₦500,000.
-
Non-repayable funding.
-
No equity surrender or ownership transfer.
-
Funding that may be directed towards inventory, equipment, marketing, staff and other approved growth expenses.
-
Optional discussion of potential investment, separate from the grant.
Selection And Interviews
Every application is reviewed by ProMoat Capital’s investment team. The application takes approximately 20 minutes to complete, and applicants do not need to prepare a pitch deck or formal business plan document.
-
Application review: ProMoat Capital’s investment team assesses submitted applications.
-
Initial interviews: Shortlisted businesses will be contacted in November 2026 for an interview by phone or video call. The discussion will focus on the business.
-
Finalist interviews: Finalist interviews will take place in December 2026 and will cover customers, financial performance and the proposed use of the grant.
-
Announcement and payment: The two successful businesses will be announced and paid in January 2027.
Applicants should ensure that their business information, revenue details and proposed use of funds are accurate and consistent, as these areas will be relevant during the interview stages.