DHI Business Acceleration Fund Announcement

In line with the mandate to "promote and encourage entrepreneurship and business development through venture capital and other required institutional support", DHI has been generally supporting Entrepreneurship through the DHI Business Acceleration Program (DHI BizAP).

The ongoing COVID-19 situation has impacted economic activities in the country in various ways. The disruption and constraints also present opportunities for innovation and enterprise. DHI invites proposals from Entrepreneurs for financing of businesses from entrepreneurs under the Cottage and Small Industry Scale for DHI Business Acceleration Fund support with the following terms;

  1. Maximum Financing         : Nu. 500,000
  2. Collateral                          : No requirement
  3. Administrative charges     : 5% per annum
  4. Repayment Term              : Maximum of 5 Years

DHI encourages proposals especially targeted towards addressing the constraints posed by the present COVID situation. Shortlisted entrepreneurs will pitch to the DHI Business Acceleration Fund Panel to secure the funding. Please submit your application before the 10th July 2020 by 5 PM.

How to Apply?

  1. Businesses must fall under the Cottage and Small Industry category (any business with less than total Nu.10 Million) to apply.
  2. Business must have a valid Business License in applicant's name.
  3. Download and fill the Application Form.
  4. Submit the following required documents:
    1. DHI Business Acceleration Fund Application Form (Download)
    2. Business Proposal (Annexure I)
    3. Copy of valid Citizenship Identity Card.
    4. Two professional recommendations/ customer testimonials (Annexure II)
    5. Copy of CV of the entrepreneur and team members.
    6. One recent Passport size photograph of the entrepreneur.
    7. Copy of valid business license
    8. Copy of recent CIB report (credit history).
    9. Valid online security clearance certificate.
    10. For entrepreneurs with existing businesses:
      • Current account statement of the business for the past 2 years
      • A recent tax clearance certificate from the Department of Revenue and Customs.

Annexure I: Business Proposal Template
Annexure II: Professional Recommendation or Customer Testimonial Template

  1. Submit the filled application form with other documents to dhibizap@dhi.bt

Note:

  1. Applicants are advised to read and ensure they fully understand all related instructions before
    completing the application form.
  2. Applicants are to note that submission of incomplete documents may result in application not being processed.
Application Period:

Sl. No. Activity Date
1.   Application Open   13-June-2020
2.   Application Close   10-July-2020 at 5pm
3.   Announce shortlisted candidates   17-July-2020
4.   Present to the Fund Approval Committee   20 to 22 July-2020
5.   Announce selected candidates   After Due Diligence

 

For any Clarification: Please contact 336257/58 during office hours or email us at dhibizap@dhi.bt

 

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