Do not begin a funding search by applying everywhere. First decide what kind of capital fits the business, prepare evidence, then target programmes whose stage, sector and geography match you.
Consider Zainab from Kaduna, building solar cold storage for tomato cooperatives. A grant for research, a customer-funded pilot, an equipment loan and angel equity are not interchangeable. Each carries different expectations.
Choose the right type of capital
Customer revenue is usually the cleanest proof. Grants can support pilots or impact goals but are competitive and restricted. Loans require repayment capacity. Equity suits scalable businesses whose founders understand dilution and investor expectations.
Build a funding folder before applying
Prepare registration documents, founder profiles, customer evidence, a clear budget, twelve-month assumptions, bank statements where appropriate, impact data and a short pitch. Zainab should show how many cooperatives were interviewed, storage demand, expected utilisation and who will pay.
Customer revenue → Grant or pilot → Loan → Angel or equity
Where should Nigerian founders look?
Monitor official SMEDAN programme pages, the Bank of Industry iProgrammes portal, sector associations, credible incubators and funders’ own websites. Availability, deadlines and eligibility change. Verify every opportunity on its official domain before investing time.
Tailor each application
Answer the exact question, use evidence and show why your project fits that programme. Do not paste a generic AI-written proposal into twenty portals. Review every claim, number and attachment.
Avoid funding scams
Be cautious when someone guarantees a grant, requests an unofficial upfront processing fee, uses a look-alike domain or pressures you to share banking credentials. Verify independently.
FAQ
Do I need revenue before raising money?
Not every programme requires revenue, but evidence of demand makes most applications stronger. Interviews, letters of intent and a paid pilot can help when the company is early.
How many grants should I apply for?
Apply only where there is a genuine fit and enough time to submit strong evidence. Five focused applications can be better than fifty generic ones.
Build the business, then build the system.
TSM House helps Nigerian founders organise operations, technology and growth around the reality of their teams.