Growing Businesses Foundation (GBF) is a principal provider of Micro Credit to downstream Entrepreneurs, SME growth advocacy and Sector support. It has long enjoyed the trust and confidence of Government and NGOs and is typically regarded as a partner of first choice in issues affecting communities at the grass root level.

The following is the list of our major funding sources over the last five years:

1. GBF is funded through grants and annual subscriptions from member organizations namely:
   • Exxon Mobil
   • Chevron Nigeria Limited
   • United Bank for Africa PLC
   • Union Bank of Nigeria PLC
   • AIICO Insurance PLC
   • Express Discount House Limited
   • Udo Udoma and Belo Osagie
   • PriceWaterHouseCoopers
   • MTN Nigeria
   • Nigeria International Bank Ltd (Formerly Citibank)
2. Donations from non-members – The following organizations donated monies, equipments and services to GBF in the last five years:
   • Catholic Institute for Development, Justice and Peace (CIDJAP)
   • Intercellular Wireless Ltd
   • Chevron Nigeria Limited
   • Becker Codes Germany
   • STC Elinex
   • Finserve Associate
   • Anger & Emuwa
3. Special project grants from both members and non-member organizations – GBF received grants from the following over the last two years:
   • Exxon Mobil
   • Mobil Producing Nigeria Unlimited
   • Chevron Nigeria Limited
   • United Parcel Service (UPS)
   • Coca-Cola Nigeria Limited
   • Citibank Nigeria Limited
4. Consultancy fees: GBF received consultancy fees from the following in the last two years for Strategic Consulting services:
   • UNDP Nigeria - Human Development Fund project
   • Nigerian Communication Commission (NCC) - Rural Telecommunication and NCC
   • Five Talents International (FTI) - Due Diligence Appraisal of the Imo Self Help Organization [ISHO]
   • United States Agency for International Development - Review of OVC Projects

Growing Businesses Foundation (GBF) is a non-governmental, non-profit organization, whose mission is "to enhance collaboration amongst businesses, non-profit organizations and governments, to promote the healthy economic development of communities and channel resources towards projects with sustainable wealth generating potential".

The Growing Businesses Foundation, a private sector led non-governmental organization, evolved from a network of socially responsible businesses with the objective of enhancing the economic development of Nigeria's rural communities, through micro-finance, institutional capacity building and improved market linkages.

GBF has three offices presently, with a plan to open a fourth in Warri, Delta State and a liaison Office in the Capital Federal Capital Territory, Abuja, and Abuja.
Our contact details for the various offices are:

Head Office:	Regional Offices:
60 Norman Williams, South West, Ikoyi P.M.B 12959 57, Marina Lagos	Eket 23B Uqua Road Eket Urban Akwa Ibom State	Enugu 1-3 Ikwuato Street Uwani Enugu, Enugu State

Since inception in 1999 the interest rate charged on GBF loan facility is based on the prevailing Treasury Bills rate at the time of disbursement plus 3% admin/overhead charge. However, the interest rate has now been fixed at 25% p.a. as a result of frequent fluctuation in the TB rate.

Since year 2000 when GBF commenced activity, our recovery rate has been stable at 100%. There have been no defaults so far.

Credit given by GBF is non-collaterised, but beneficiaries are required as a prerequisite to undergo a business skills and capacity building training, and after receiving the credit a mandatory 10% refundable deposit of the actual credit in a GBF managed Endowment Fund. The deposit is refunded to the beneficiary on request when the facility is fully repaid.

GBF uses the following strategies to guarantee the recovery of the loans:

• GBF establishes a cordial relationship with the respectable Community Based organization (CBOs); i.e. the intermediary organization through which the credit will be disbursed to the final beneficiaries. A CBO could be a Micro Finance Institution (MFI), Community Bank (CB), Co-operative Society (CS) or a Credit Union (CU).
• Proper credit evaluation, ensuring that the credit is extended to the people that need it. CBOs must meet all set criteria before credit is extended to them.
• Final beneficiaries must undergo series of workshop and training in the best practices of micro credit and skill acquisition workshops. To this end, GBF in collaboration with CIDJAP established a link known as the Micro Enterprise Development Co-operation (MDC).

  MDC workshops are organized to provide a platform for evaluating international best practices in micro-finance for the purpose of building self-reliance, sustainable financial intermediaries capable of nurturing micro-enterprises and growing these businesses into viable, socially-responsible and culturally-rooted small and medium-scale enterprises. GBF also collaborating with STEP in the area of providing capacity building for loan beneficiaries in the South- South and South West.

• GBF monitors the loan and progress of the entrepreneur by necessitating the submission of quarterly report from the CBOs, and unannounced monitoring visits.

GBF's mandate is to provide an opportunity for the private sector to participate in the development of our nation. Our operations are not restricted to any region or state of the country. GBF is expanding its activities within and beyond the twelve states in which we have operations. For now, focus is on the south south, southeas, southwest and north central region of the country. GBF conducted needs assessment tours in 18 states of the federation and Abuja. These states include Ebonyi, Ogun, Oyo, Ekiti, Enugu, Abia, Anambra, Kano, Bauchi, Gombe, Yobe, Borno, Edo, Delta, Imo, Akwa Ibom, Kano and Cross Rivers. We intend to extend our operations to the North in the near future.

Yes, loans are given to individuals directly [in the case of specific project focus] and indirectly through Community Based Organizations (CBO) that serve as intermediaries between GBF and the final beneficiaries. The individuals however, must be registered members of the respective CBO. A CBO could be a Micro Finance Institution (MFI), Community Bank (CB), Co-operative Society (CS) or a Credit Union (CU). The risk is minimized as the CBO acts as guarantor for the loans.

GBF is sustained through grants, subscriptions, donations and support from member organizations. You can help GBF attain its mission objectives in the following ways:

• Be a volunteer
• Invest in micro, small and medium scale Entrepreneurs (SME) through GBF
• Sponsor capacity-building workshops
• Sponsor Corporate Social Responsibility seminars/workshops/conferences.