Nigeria - Startup under 3 years old

Describe your project or startup in a few words

A small lending company that gives instant funds to daily market traders to boost their inventory. We have a vission of becoming a fully grown fintech/ microfinance bank in Nigeria.

01.01 Describe your startup in more detail

We give #30000 to consumables traders in Major daily markets and charge a little percentage. With daily repayment of #1000, we are able to give to another traders. It's a recycling loans which helps those traders buy more of their goods. We are pecking to penetrate more markets as those traders are eagerly waiting for such services to boost their capital Base.

01.02 What is the main problem you are trying to solve?

1. Helping local traders to get access to funds easily without going through difficult and time wasting. 2. Helping local traders to stay and continue their business with adequate funding available. 3. We also generate jobs opportunities as more account officers were employed. 4. Rural economic development initiative

01.03 Tell us the major benefits and/or advantages of using the product/service that your startup provides (at least 3).

1. It's provide availability of funds easily and conviniently to daily market traders. 2. It's boost their stocks and inventories as funds are available for them to buy more. 3. It's reduces business failure or total shutdown in the markets.

01.04 Please describe who exactly your startup’s product/service is aimed at serving. Who are the targeted beneficiaries?

1.Daily market traders ( men and women) 2. Local food vendors 3. Groagery shops sellers 4. Boutique and fashion designers 5. General markets traders with meaningful inventories

01.05 When was your company established?

2022-09-22

01.06 Are you already selling your product/service?

Yes

01.07 How many other owners are there within your startup?

1

01.08 Among the other owners, how many are female?

0

01.09 Please describe the profile of the other owners within your startup (skills, experience, etc.)

Mr. Kokoette Ekanem is a banker and business man. He studied Banking and finance in the university. He had worked briefly with a microfinance bank before embarking on this company.

01.10 If you have a website, a social media page (Facebook, Instagram, Linkedin…), or app, please provide the link(s) here:

01.11 Which industry best describes your project?

g) Financial services

02.01.01 My startup contributes to the No poverty goal

7 - Strongly Agree

02.01.02 No poverty - Justification for my startup

Job creation Staying in business and funds resources available

02.02.01 My startup contributes to the Zero hunger goal

4

02.02.02 Zero hunger - Justification for my startup

02.03.01 My startup contributes to the Good health and well-being goal

3

02.03.02 Good health and well-being - Justification for my startup

02.04.01 My startup contributes to the Quality education goal

1 - Strongly Disagree

02.04.02 Quality education - Justification for my startup

02.05.01 My startup contributes to the Gender equality goal

7 - Strongly Agree

02.05.02 Gender equality - Justification for my startup

Our loans are for both men and women

02.06.01 My startup contributes to the Clean water and sanitation goal

1 - Strongly Disagree

02.06.02 Clean water and sanitation - Justification for my startup

02.07.01 My startup contributes to the Affordable and clean energy goal

1 - Strongly Disagree

02.07.02 Affordable and clean energy - Justification for my startup

02.08.01 My startup contributes to the Decent work and economic growth

7 - Strongly Agree

02.08.02 Decent work and economic growth - Justification for my startup

Jobs creation

02.09.01 My startup contributes to the Industry innovation and infrastructure

5

02.09.02 Industry innovation and infrastructure - Justification for my startup

Fast and conviniently loans disbursement compared to other commercial Banks loan process

02.10.01 My startup contributes to the Reduced inequalities goal

3

02.10.02 Reduced inequalities - Justification for my startup

02.11.01 My startup contributes to the Sustainable cities and communities goal

5

02.11.02 Sustainable cities and communities - Justification for my startup

02.12.01 My startup contributes to the Responsible consumption and production goal

7 - Strongly Agree

02.12.02 Responsible consumption and production - Justification for my startup

With funds available to meet up daily demand in the markets

02.13.01 My startup contributes to the Climate action goal

1 - Strongly Disagree

02.13.02 Climate action - Justification for my startup

02.14.01 My startup contributes to the Life below water goal

1 - Strongly Disagree

02.14.02 Life below water - Justification for my startup

02.15.01 My startup contributes to the Life on land goal

3

02.15.02 Life on land - Justification for my startup

02.16.01 My startup contributes to the Peace Justice and Strong Institutions goal

3

02.16.02 Peace Justice and Strong Institutions- Justification for my startup

02.17.01 My startup contributes to the Partnerships for the goal

5

02.17.02 Partnerships for the goal - Justification for my startup

06.01 There are a large number of customers who already use a product/service very similar to the product/service we envision creating.

5

06.02 The product/service represents an entirely new type of product/service.

5

06.03 The product/service could be described as a new technology.

5

06.04 The product/service is an improvement on an existing product or service.

5

06.05 The product/service could be described as an extension of a range of products or services.

5

06.06 The product/service responds to a demand or need that has not been satisfied by other products/services.

5

06.07 The product/service is a new version of an old product/service.

6

06.08 Justification for my startup

06.09 Competitive Analysis

Other finance company

11.05 Are you initiating actions within your community to promote the role of female entrepreneurs?