ProMoat Capital Drawbridge Grant 2026: Apply for Up to ₦1 Million Before 31 October

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Category: Grants

Published on Monday, 05 October 2026 12:36

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Nigerian business owners looking for small business grants, business funding and non-repayable financial support can now apply for the ProMoat Capital Drawbridge Grant 2026.

 

The grant programme is offering ₦1 million to one selected Nigerian business and ₦500,000 to another successful business, giving a total of ₦1.5 million in grant funding.

 

The funding does not need to be repaid, and ProMoat Capital says it will not take equity or ownership in the businesses receiving the grants.

 

ProMoat Capital Drawbridge Grant 2026

 

The Drawbridge Grant is an initiative of ProMoat Capital, an investment firm focused on small and medium-sized businesses in Nigeria and other frontier markets.

 

Rather than targeting only technology startups, the programme is open to businesses across different sectors. Eligible businesses can include enterprises involved in agriculture, retail, manufacturing, services, software and other areas of the economy.

 

According to ProMoat Capital, the programme is designed to identify businesses that already have customers and generate revenue, while providing funding that can help them grow.

 

How Much is the Drawbridge Grant?

 

Two Nigerian businesses will receive funding under the current cohort:

• First-place grant: ₦1,000,000

• Second-place grant: ₦500,000

• Total funding available: ₦1,500,000

 

The funding is a grant rather than a loan, meaning successful applicants will not be required to repay the money.

 

ProMoat Capital also states that it will not take equity in the businesses receiving the grants.

 

What Can the Grant Be Used For?

 

The grant is intended to help businesses with expenses that support growth.

 

Applicants may propose using the money for areas such as:

• Buying stock or inventory

• Purchasing business equipment

• Acquiring tools

• Marketing and promotion

• Employing staff

• Other legitimate business-growth expenses

 

Applicants are asked during the application process how they intend to use the funding, so business owners should have a clear and realistic plan for the money.

 

Who Can Apply for the ProMoat Capital Grant?

 

The Drawbridge Grant is designed for revenue-generating Nigerian businesses.

 

To be eligible, applicants must generally meet the following requirements:

• The business must operate in Nigeria.

• The business must be registered with the Corporate Affairs Commission (CAC).

• Registration can be as a business name or company.

• The business must have paying customers.

• The business must generate actual revenue.

• Businesses from different sectors can apply.

 

A dedicated business bank account is not compulsory, although ProMoat Capital says having one counts in an applicant's favour.

 

Is the ProMoat Drawbridge Grant or a Loan?

No.

 

The ProMoat Capital Drawbridge Grant is not presented as a business loan or investment.

 

Successful businesses will receive the grant without:

• Repaying the funding

• Giving ProMoat Capital equity in the business

However, ProMoat Capital is also an investment firm. It says that some applicants may subsequently be contacted about potential investment opportunities. Any such investment discussion is separate from the grant and is optional.

 

Application Process for the Drawbridge Grant

 

The application process is relatively straightforward and consists of several stages.

 

Step 1: Submit Your Application

Applicants complete an online application form.

 

ProMoat Capital says the form takes approximately 20 minutes to complete, and applicants do not need to submit a pitch deck or separate business plan document.

 

You should be prepared to provide information including:

• Your name and contact details

• Business name

• CAC registration number

• Business sector

• State and location

• Monthly revenue range

• Team size

• Information about your customers

• Details about your business

• Your proposed use of the grant

• Business website or social media page, if available

 

Step 2: Application Review

Applications will be reviewed by ProMoat Capital's team.

 

Shortlisted applicants are expected to be contacted in November 2026 for an initial interview.

 

Step 3: Final Interviews

Finalists will take part in a more detailed interview in December 2026.

 

The discussion may cover areas such as:

• Customers

• Business performance

• Revenue

• Business growth plans

• How the grant would be used

 

Step 4: Grant Award

The two successful businesses are expected to be announced in January 2027.

 

The successful applicants will receive:

• ₦1,000,000

• ₦500,000

depending on the grant position awarded.

 

How to Apply for the ProMoat Capital Drawbridge Grant

 

Interested business owners should apply through the official ProMoat Capital Drawbridge Grant application page.

 

Official application: Apply for the ProMoat Capital Drawbridge Grant

 

The official application form asks applicants to provide accurate information about their business, including their CAC registration details, revenue, customers and intended use of the grant.

 

Application Closing Date: 31 October 2026 deadline 

 

Important Things Applicants Should Know

 

Before applying, business owners should take note of the following:

• Your business must be registered with the CAC.

• You must have paying customers.

• The opportunity is available to businesses operating in Nigeria.

• There is no requirement to submit a pitch deck or separate business plan document.

• The grant does not require repayment.

• ProMoat Capital does not take equity from grant recipients.

• Applicants should provide truthful and accurate information.

• Only one application is permitted per business for the cohort.

 

ProMoat Capital's terms also state that submitted information may be reviewed and verified, including verification of CAC registration. False information can result in disqualification.

 

Why Nigerian Business Owners May Want to Consider the Grant

 

Access to affordable business finance can be challenging for small businesses, particularly those that need money for inventory, equipment, marketing or additional staff.

 

Unlike a conventional business loan, the Drawbridge Grant does not require successful recipients to repay the award. It also does not require recipients to surrender ownership of their businesses.

 

However, the programme is competitive, and submitting an application does not guarantee that a business will receive funding. ProMoat Capital will select the successful businesses through its stated review and interview process.

 

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Conclusion

 

The ProMoat Capital Drawbridge Grant 2026 is currently an open business funding opportunity for registered Nigerian businesses with paying customers.

 

Two businesses are expected to receive a total of ₦1.5 million, consisting of a ₦1 million first-place grant and a ₦500,000 second-place grant.

 

If your business meets the eligibility requirements, you can submit an application before the 31 October 2026 deadline through the official ProMoat Capital application page.

 

Business owners should carefully review the requirements and provide clear, truthful information about their business and how the funding would support future growth.