GroFin Review | Get Heavy Loan For SME in Africa And Middle East
Grofin Is an international financial institute specialized in assisting small and medium business by providing loan and investors for your business. We are going to look at Grofin Loans, grofin interest rates, grofin funds.
Who is Grofin
GroFin provides Small and Medium Enterprise (SME) finance/business loans across Africa & the Middle East. If you have investible numbers and you looking to expand your business, then GroFin is your best short.
With GroFin, businesses can access business loans between US$100,000 and US$1.5 million.
GroFin is a pioneering private development finance institution specialized in financing and supporting small and growing businesses (SGBs) across Africa and the Middle East by combining medium-term loan capital and value-added business support.
By generating employment, strengthening value chains and building markets, our investments bring about inclusive economic growth and improved living conditions in the low and middle-income countries where we operate.
The Purpose of Grofin
It is widely accepted that the private sector is the key driver of sustainable economic development in emerging economies. Small and medium-sized enterprises typically make up 80-90% of the economy in developing countries and create as well as sustain employment at scale. Small and growing businesses (SGBs) at the base of the SME pyramid thus constitute a vital link in the development chain.
However, despite the SME sector’s capacity to provide employment at scale and support multiple livelihoods, it is prone to high failure rates – as many as 70 – 90% of SGBs do not survive past their fifth year of operations. Banks and other institutional investors are normally reluctant to invest in these businesses, dooming SGBs to the so-called ‘missing middle’, where they are considered too large for micro-finance, too small for traditional private equity and too risky for traditional security-based lenders.
GroFin was established in 2004 with the objective of providing a unique solution of finance and support to SMEs in the missing middle. Our sole purpose is to sustain jobs and create impact in local communities through the development of a scalable, replicable and sustainable model for the SGB segment.
Our ultimate objective is to deliver an efficient and effective integrated solution of finance and support to base-of-the-pyramid SMEs and to transform them into formalized and sustainable businesses that support employment and thus create lasting impact.
While we are open to funding SMEs across sectors on the understanding that consumers at the base of the pyramid need access to a complete range of goods and services, GroFin focuses on SGBs operating in education, healthcare, agri-business, manufacturing and key services (water, energy, and sanitation). GroFin targets these vital needs sectors because of the impact these businesses have indirectly worked towards the SDGs and thus their capacity to alleviate poverty.
Such SGBs are particularly at risk of being unserved or underserved by traditional financiers as they undertake capital-intensive activities and have long gestation periods for their projects to come to fruition. GroFin’s dual approach of finance and business support gives such high-impact SGBs the tools they need to succeed and maximize their contribution to the community, thus touching multiple lives at the base of the pyramid.
How to apply for Grofin funding
Grofin is more of a funding organization, they don’t just give you a loan they are investors, you start up a business which is expected to have lasted for not less than 3years, and you wish to expend it. you will need to apply for funding through their website. To apply click here.
Their lots of other criteria that you need to do before you are qualified to apply for funding, you can read up here.
Grofin is a financial institute who funds a business that is 3 years and above.