The Drawbridge Grant 2027: ₦1,000,000 for Nigerian Businesses, No Equity, No Repayment

If you run a registered Nigerian business with real, paying customers, the Drawbridge Grant is worth 20 minutes of your time. It's a straightforward cash grant, no equity, no repayment, from an investment firm using the grant to meet promising small businesses early.

ProMoat Capital is giving two grants this January: ₦1,000,000 and ₦500,000. You don't pay it back, and the firm doesn't take any part of your company. If you run a registered Nigerian business with paying customers, you can apply. Applications close October 31, 2026.

What Is the Drawbridge Grant?

ProMoat Capital invests in small and medium businesses in Nigeria. To invest well, they need to meet good businesses early, and the best ones are usually busy working, not looking for investors. The grant is explicitly described as how the firm meets them.

Every application is read by the investment team. Two businesses get the grant, and if the firm likes what you're building, they may also talk to you about investment. That conversation is always your choice, and it's kept separate from the grant itself.

How Much Can You Win?

- First place: ₦1,000,000

- Second place: ₦500,000

Combined, this is ₦1.5 million given to two businesses, with 0% equity taken since it's a grant.

Is This a Grant or an Investment?

It's a genuine grant, not a loan and not an equity investment. The money is yours to grow the business with. It doesn't have to be repaid, and ProMoat takes no ownership stake in your company. Separately, if the firm likes your business after reading your application, they may reach out about a future investment conversation, but that's entirely optional and distinct from the grant itself.

Who Can Apply?

- Your business makes money. You have paying customers. It doesn't have to be a lot, but it has to be real.

- Your business is registered. Registered with the CAC, as a business name or a company.

- You have a business bank account. Not compulsory, but it counts in your favour, and it's where the money would go if you win.

- You operate in Nigeria. Any sector: shops, farms, factories, services, software, all welcome.

Small or young businesses are explicitly encouraged to apply too. The firm cares more about whether the business is real than how big or old it is.

What You Need Before Applying

1. Your full name, email, and phone/WhatsApp number

2. Business name and CAC registration number

3. Sector, state, and LGA

4. Monthly revenue range (under ₦500,000 up to above ₦10,000,000)

5. Team size (just you, 2–5, 6–20, or 21+)

6. A short explanation of what your business does and who your customers are

7. A short explanation of how you'd use the grant

8. Optionally, a website or social media link

You don't need a pitch deck or a formal business plan document.

How to Apply

Step 1: Confirm you meet the basics

You need a registered, revenue-generating Nigerian business.

Step 2: Visit the official application page

👉 https://www.promoatcapital.com/drawbridge-grant#apply

Step 3: Fill in the form

It takes about 20 minutes. Write the way you talk; plain answers are fine.

Step 4: Create your free account

When you submit, you'll create a free account on ProMoat's small business platform (Habaqa), where you'll track your application's progress.

Step 5: Submit before the deadline

Applications close October 31, 2026.

Step 6: Wait for the review stages

- November: the team reads every application and calls shortlisted businesses for a normal conversation about your business.

- December: finalists have a longer conversation, covering customers, numbers, and your plan for the money.

- January 2027: winners are announced, and both grants are paid out the same month.

Where to Apply

Official Application Page:

👉 https://www.promoatcapital.com/drawbridge-grant#apply

Terms & Conditions:

👉 https://www.promoatcapital.com/drawbridge-grant/terms

Important Notes

- Deadline: October 31, 2026. The form takes about 20 minutes, so there's no reason to wait until the last day.

- No fee at any stage. Applying, the shortlist calls, and the final interviews are all free. Never pay anyone claiming to improve your odds.

- You'll create an account on a separate platform (Habaqa). You'll be asked to agree to both the grant's terms and Habaqa's Terms of Use and Privacy Policy, so take a moment to read what you're agreeing to.

- This grant will run again. If you miss this round, watch promoatcapital.com for the next cohort's announcement.

- Contact: hello@promoatcapital.com

Tips for a Strong Application

Be specific about how you'd use the money. The application explicitly asks for your plan, and a clear plan improves your chances. "Stock, equipment, marketing, staff" is the kind of real, itemised answer that stands out.

Don't overthink the writing style. The form itself tells you to write the way you talk. Plain, honest answers are what they're looking for, not polished corporate language.

Make sure your CAC registration is in order. This is a firm requirement, so have your registration number ready.

Open a business bank account if you haven't. It's not compulsory, but it's explicitly stated to count in your favour.

Common Mistakes to Avoid

- Applying without CAC registration. This is a hard requirement.

- Applying with no paying customers. The business needs real revenue, even if small.

- Missing the October 31, 2026 deadline.

- Treating the grant and the investment conversation as the same thing. They're separate, and the investment conversation is always optional.

- Skipping the "how would you use the grant" question or answering vaguely.

Frequently Asked Questions

Do I have to pay this back?

No. It's a grant, not a loan, and ProMoat doesn't take any share of your business.

What can I spend it on?

Anything that grows the business, such as stock, equipment, marketing, or staff. The application asks for your plan, and a clear plan improves your chances.

What does ProMoat get out of it?

It's an investment firm, and the grant helps it meet good businesses early. Every application is read by the investment team, and some applicants may hear about investment later. That's always separate from the grant and always your choice.

My business is small or young. Should I still apply?

Yes, as long as you're registered and have paying customers. The firm cares more about whether the business is real than how big or old it is.

When will I hear back?

If you're shortlisted, you'll be contacted in November. Winners are announced in January 2027.

What if I miss the deadline?

This grant will run again. The next cohort will be announced on promoatcapital.com.

Where do I apply?

👉 https://www.promoatcapital.com/drawbridge-grant#apply

Official Links

Application Page:

https://www.promoatcapital.com/drawbridge-grant#apply

Terms & Conditions:

https://www.promoatcapital.com/drawbridge-grant/terms