Proposals, Business Plan and Feasibility Study for Grant and Loans in Nigeria

Proposals, Business plan and Feasibility study for grants and loans in Nigeria are written to convince an investor to approve finance of a specified amount to enable a businessman/woman to run your business or to expand it from a small to medium or large scale. This guide written in this article applies to every type of business you can ever think of. Now this question; Do you want to start a new business? or you want to expand your already existing business? if yes, then you can Contact Us on +2347030722911 to get an international standard and professional business plan with financial models required for loan purposes. See Business Plan Samples written by us

Planning is essential in the establishment of a new business. This guide will help you to start planning your business. If you are proposing to apply for A LOAN/GRANT from a bank or any financial institution in Nigeria (YouWin, SME, NIES, YEAP, or any State or Federal Youth Empowerment Programs, Agriculture Loans etc), the information recorded in this guide below will form the basis of the assessment of your readiness to enter any loan program in Nigeria and Abroad. See Guide on Financial Model Calculation

For best results Martins Library advises that you take sufficient time to find out the information needed to complete the forms given to you by the investor. You need to prepare before writing a business plan or proposal that will convince the investor give you the loan or grant. Do not just make it up or write what you think other people want to hear. Throughout the guide we have written below, there are prompts on the type of background information required to support the development of your business idea. 

We encourage you to explore all possible avenues to gather information relevant to your business area. Attach any additional information you think may be useful that will help the investor see reasons that you are worthy of getting their support inform of loan/grant. See Free Business Plan Templates

Proposals, Business Plan and Feasibility Study for Grant and Loans in Nigeria

Please note that this document is a planning guide only, it is designed to assist you to start the process of developing your business idea for an investor to see.

You should be aware that after you have completed you business plan (document), it is supposed to be is accorded “Commercial In Confidence” status by your company or the investor.


You cannot just wake up from your home and expect to get a loan from an investor without meeting some criteria / requirements. You are advised to read the eligibility for the loan or grant programme. This is to avoid a total waste of time. The list below are eligibility requirements of some investors or grant facilities. Please note that Not all points listed below applies to all investors or grant programmes, the eligibility might few sometimes;
  • To participate in grant programmes, you must: Be 18 years or older.
  • You must be a proven citizen of the country (Nigeria) no older than 40 years (proof of identity: International passport/Drivers License/National ID/Voters card required)
  • You must have a post-secondary school qualification
  • Your proposed business venture must be within the national borders of the country (Nigeria), and with the intention of employing Nigerian citizens.
  • Your proposed venture must not entail the production or distribution of weapons, alcoholic beverages, tobacco or/and gambling, or any activities in contradiction with the Nigerian constitution
  • You must prepare an innovative business concept summary
  • Be registered as unemployed (not in all cases) 
  • Be receiving a qualifying income support payment
  • Not be an undischarged bankrupt
  • Not have received assistance in the previous 2 years.
  • Your business must: Have never operated commercially before
  • Be independent, lawful and reputable
  • Not duplicate an existing business unless an unsatisfied demand for your product or service can be shown
  • Not involve the purchase or take-over of an existing business.
If you are eligible to apply for the loan or grant programme, then you can start of by filling the forms which is always arranged in the format below;

  1. Name: Write your full name in the space provided
  2. Address: Write your complete address of your home or the business
  3. Phone: Write you private or business Mobile number for future contact
  4. Proposed business: Write the type of business you proposing to startup


Before answering any question concerning your business idea, you have to be conversant of the business so that you can answer all the questions accurately. The following questions below are designed to assist you in the development of your business idea, your vision for the future of the business and to detail the expertise that you bring to your new business venture. 
  1. What are your reasons for wanting to start your own small business?
  2. What are your objectives for your business over the next twelve months?
  3. What are your objectives for your business over the following two years?
  4. List all the products and/ or services that you plan to provide at the commencement of the business.
  5. List all the products and/ or services that you plan to provide in the future.
  6. Who will operate the business?
  7. Who else will be employed by the business immediately?
  8. Who else will be employed by the business in the future?

If you cannot answer all these questions in your form or you you don't know how to write a proposal, business plan or feasibility study, don't worry for all hope is not lost. All you need to do is to Contact Martins Library Team through this email address: or Call us on +2347030722911


CAPITAL REQUIREMENTS: This section will help you to calculate the amount of money you need to get your business underway. It also looks at your ability to gain finances and whom you will approach if finance is necessary.

  1. List all the equipment that you will need for the business, eg: Plant and equipment, fittings, tools, office furniture, computer equipment.
  2. Already Own Approximate value - this is for already running business
  3. Total Amount it will be in Naira or Dollar
  4. You Need to acquire Approximate value if necessary 


What are your Start Up Expenses? - In this section, you will need to explain all expenses that you will incur during the startup of the business. The expenses should include the raw materials and goods you need to buy, the cost of transportation to take it to the productions site, store house or the business premises, the electricity requirement, water source, insurance, business registration (if applicable) and every miscellaneous that is involved in the business.

You should Complete the Expenses like the following checklist of Business start up expenses below;
  • Business Name Registration
  • Insurance
  • Initial Stock
  • Licences and Permits
  • Advertising and Promotion
  • Printing and Stationery
  • Lease/Bond
  • Telephone - Landline -Mobile
  • Others (if applicable)

  1. What finance do you need to raise now?
  2. How do you intend to raise the Finance?

You should be able to tell the investor the cash you need them to raise for you. Do not go forward to drop the entire world's problems. Be straight forward with your answers on what specific thing you want to use the finance you will get. You should also be able to tell the grant or loan programme coordinator or investor how you intend to raise your finance. You should state that you finance will come from any of the following below; 
  • Personal Income
  • Bank Loan
  • Building Society
  • Family
  • Friends
  • Other


This should include the Pricing of your commodities and products. You should explain how you calculated the cost of producing your product/service and Turnover. You are also expected to expected turnover in the 1st to 3rd year – Never fail to show your workings so that the investors can know how did you calculate the income and turn over?


Complete the following checklists of projected business expenses for the first 12 months of operation of your business. .
  1. Accounting
  2. Advertising
  3. Bank Charges
  4. Cleaning
  5. Fuel, Light & Power
  6. Insurance
  7. Interest
  8. Internet Service Provider
  9. Lease
  10. Legal
  11. Motor Vehicle - Fuel and Oil - Registration & Insurance - Repairs and Maintenance
  12. Postage
  13. Printing
  14. Protective Clothing
  15. Purchases - Equipment –Stock -Raw materials
  16. Rent/Bond
  17. Stationery
  18. Superannuation
  19. Telephone - Landline -Mobile
  20. Work Cover
  21. Others
  22. TOTAL

What are your current monthly financial commitments?

Here, you have to list in details the expenses used in running the business every month. You have to be very accurate in the amount you will write in this section. Be sure that you have done an accurate calculation of all the expenses before penning it down. Written below is what you are expected to calculate;
  • Rent/Mortgage
  • Personal loans
  • Schooling
  • Petrol
  • Car running
  • Food
  • Clothing
  • Recreation
  • Medical
  • Other

After writing all that, you will have to list any current mortgages, personal loans, hire purchase, leasing other commitments you hold. You also need to workout the Financial Type of loan Repayment Period of the loan. Some cases, it is done by Institution per month and some cases, per year.


This is a very important aspect of the proposal, business plan or feasibility study. Market research involves collecting information about your market segment – where they live, what their income is, what they spend their income on – anything about them that will help you ensure your product is attractive to them.

Market research will involve:

  • Talking to people who are in similar fields
  • Talking to your “target market” (i.e. people you believe will use/buy your product or service).
  • Talking to people who have specialist knowledge of the industry you are entering.
  • Sourcing written material specific to your area of interest.
  • Gathering statistical data relevant to your area of interest.

Prepare your questions before you approach people.

  • To find out about your target market you must be prepared to ask “hard questions” or exploratory questions that will give you a sound understanding of your target market, how they think and what will appeal to them.
  • To ensure that the information gathered is relevant, select people who have detailed knowledge and experience in the industry sector you propose to enter.
  • Ask targeted questions, designed to provide realistic feedback on your business idea. Accordingly questions should be framed to draw information on the positives and negatives of the industry sector you propose entering.

For a business to be successful there must be enough people who want to buy your product or service. You also need to ensure your product or service is accessible to the people who may want to buy it. It has to be available in the right places in the right quantities and presented in a way that will be attractive to your customer. The people you are aiming your product at are your “target market” or “market segment”.

It is advised that you write down the questions you will ask the proposed customers of your products to identify your market segment. Examples of the questions you should ask the proposed clients or customers are written below;
  1. Why would you choose this product/service?
  2. How would describe most people who buy this product/service?
  3. Where would you look to find this product/service?
  4. What would you expect to pay for this product/service?
  5. How often would you buy this product?
  6. If you would like more information about this product, contact……
After a successful completion of your market research, then you can write down the answers in the space provided in the business plan / feasibility study form. Remember that we can help you achieve this aim, just dial +2347030722911

After filling the answers, it would be very good if you show the investors where you got all the information to prove t them yo did not fabricate any data yo have written. You should write them in the following format
  • Number of questionnaire s Results
  • Person consulted Date
  • Summarize the information collected during this consultation.
  • Profile your prospective customer or “market segment”
  • (i.e.:- where do they live? how much do they earn? how old are they? are they men? women? etc.)


This is another important aspect of the proposal, business plan or feasibility study because the investor need to see that you products and services will be sold/rendered to clients in Nigeria and the business will yield profits. With this said, you will need to answer these questions
  • Why will your prospective clients use your product or service?
  • How will you sell your product or service? (eg: from home, production point, door to door, wholesale, retail,
  • mail order etc.).
  • Will you sell your product to the wholesale or retail market?
  • Who will the wholesaler sell to?
  • Will you sell locally, regionally, statewide, nationally or internationally?
  • How will you deliver your product to the point of sale?


Every business has competitive edge. You will need to find out your competitive edge to the other competitors who are also rendering the same goods and services your are involved in. Find out if other businesses are providing the same or a similar product or service. To do this, look at ads in the local paper, check the phone book and talk to people. If there are other businesses providing your product or service, then you need to establish very clearly that there is an unsatisfied demand in the marketplace which your business will target. It is important that you know your competition. Learn from what they do well, identify what you can do better. Competition does not just come from businesses that are the same or similar to yours, you are competing for the Naira and Dollars that people spend in that “market segment”. With that said, you have to do the following;
  1. Report your findings.
  2. Who is your competition?
  3. What do they do well?
  4. What can you do better/differently?
  5. How does your business address unsatisfied market need?


Look in the phone book and/or local paper and talk to other people in the service or industry to find out who provides the best service delivery or has the best equipment and follow up service. Consider terms, discounts, delivery time, maintenance contracts, second hand goods etc. Where will you obtain the equipment for your business?
  • Local suppliers
  • Melbourne
  • Interstate
  • A nearby town
  • Overseas

Do you intend to buy, lease, hire purchase or rent the equipment for your business? Explain all this in your form in details.


When considering which supplier you will obtain your stock from, you need to first find out the reliability of that supplier, the credit terms they provide, the type and quality of the stock they distribute, the consistency of supply, what follow up support and technical advice they provide. What stock will you purchase on a regular basis? Try your best to be specific here.


  • Business Name registration (Provide details or evidence of research undertaken on requirements).
  • ABN/GST Registration (Provide details or evidence of research undertaken on requirements).

The Business Licensing Information Service & Small Business Victoria can provide information on many things for Small Business. You also need to check with your local council to make sure you comply with any regulations they may have.
  • What essential licences/permits do you need to operate your business? (Provide details or evidence of research undertaken on requirements).
  • Insurance requirements (Provide details of Quote obtained or evidence of investigation undertaken on Requirements).

Please Note:
  1. Business are expected to have insurance coverage appropriate to the Business and the industry.
  2. Such insurance should be what a reasonable, informed, person would consider appropriate for the business.
  3. Appropriate insurance for the business and industry should be determined during the training and incorporated in the prospective participant’s final Business Plan.

  • Proposed Premises – Home based or Commercial Premises. Location.
  • Ownership Structure – Sole trader/ Partnership/Company


  • What Small Business experience do you have?
  • List the skills you need to operate this business.
  • What skills do you have now that will allow you to produce your proposed product or provide your service?
  • What skills do you need to gain to further develop your product or provide your service?
Tick areas that you currently hold business management skills in
  • Bookkeeping
  • Record Keeping
  • Marketing
  • Personnel Management
  • Time Management
  • Motivation
  • Communication skills
  • Planning and Goal Setting
  • Insurance
  • Business Licensing and regulation
  • Customer Service
  • Others (specify)
  • We recommend that you attach your current resume and relevant qualifications.


We can help you write a business plan and feasibility for either a small, medium or large scale on any business. You can use the business plan to get a grant or loan from a bank with or without collateral because it will contain all the financial models and balance sheet required by banks. You have to choose the one you need. We don't send customer's already written business plan and feasibility study because the study and price quotes might not tally with the states you intend to establish or run the business. Again we don't give out business plans we have written for other companies, instead we write a new one with your own business name. It will take us 7-14 working days to complete the business plan for you. 
Phone: Call +2347030722911 
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