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Financing Process

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.


To get a better understanding of each step in the Promfin Foundation Financing Process, see below:



  • APPLYING

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.




  • SELECTION

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.




  • ALLOCATION

INTRODUCTION PROCESS
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.

CONTRACTING 
The contracting phase is rigorous and formalizes obligations and deliverables committed to by the applicant so as to meet all contracting terms and inform disbursement of funds.

DISBURSEMENTS
Disbursements are actualized by Promfin Foundation following disbursement schedules agreed to at the time of contracting, and are dependent on key deliverables being met at each stage of the project.



  • MONITORING

MANDATORY 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.

FINANCING OF THE FOLLOWING AREAS:
SEE ALSO



Contacts

Phone: +1 917 33 69 204

E-mail



Address

Horsfords Business Centre, Charlestown, Nevis

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