Promfin Foundation uses a Financing model where funding is allocated based on the priority areas for the fund. Only private sector companies are eligible to submit their any legal business projects, and have to comply with the eligibility and internal selection criteria of each project.
The best projects could be financed with the value more than 27 million Euro.
INITIAL CONCEPT NOTE ASSESSMENT
The first stage is submission of an initial application form where the applicants write about their project/business ideas, and about their company(s) on a provided template.
PRE-SELECTED CONCEPT NOTE ASSESSMENT BY INVESTMENT COMMITTEE
If short-listed after the initial assessment, the applicant will be asked to submit a more comprehensive Business Plan for assessment.
PROJECT SITE VISITS
During this stage, the Promfin Foundation engages with and visits the shortlisted applicants preparing Business Plans to understand their model and innovations better.
INVESTMENT COMMITTEE SELECTION
Final Business Plans are presented to an independent Investment Committee who meet and decide which company projects to fund.
Successful businesses are invited for an introduction Workshop where are explained to the company prior to contracting the post-allocation processes such as progress reporting.
Aplicants must self-report semi-annually. They can however choose to report quarterly if they need funds disbursed.
MONITORING AND EVALUATION
One of our Project Manager leads monitoring and evaluation visits to the projects semi-annually or quarterly, or any time it is required to assess technical and financial progress.