CUBE and Cofina to lend businesses up to CFA25 million

Investments

Tuesday, 07 September 2021 16:02

CUBE and Cofina to lend businesses up to CFA25 million

(Togo First) - A year into their partnership, the Cube incubator launched its first support program backed by Cofina Group. Prime XL is the program’s name and it solely targets businesses that are at least 3 years old.

Up to 500 businesses could get access to a maximum of CFA25 million, under the scheme. The monies, loans, will be provided based on the needs of the businesses and their nature. Eligible companies could get investment loans, operating funds, and front-payment on rents.

“This is an acceleration program, and businesses that will be selected need to be ready to get, use and valorize the loans. These businesses must also agree to be monitored by the CUBE incubator before, during, and after getting the funds,” the incubator’s executives said.

While the closing date for the submission of applications is yet to be disclosed, the process is exclusively online on the incubator’s website.

This program adds to the many technical and financial support initiatives the government launched for businesses, to boost entrepreneurship in Togo.

Klétus Situ

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