Funding that never has to be paid back: grants, prizes, zakat and equity

DocuCraft only prepares applications for funding that doesn’t charge interest. That covers more options than many founders realise. Each kind has its own expectations, and writing for the right reader makes a real difference.

Grants

Grants are money you don’t repay, given to achieve a goal the funder cares about: jobs, women’s enterprise, food security, innovation. In return the funder expects you to spend the money as you said, report on results and keep records. Programmes such as the Tony Elumelu Foundation’s Entrepreneurship Programme combine seed capital with training and mentoring.

Prizes and competitions

Business plan competitions and prizes, such as Africa’s Business Heroes, award money to the strongest entries, usually after a written round and a pitch. Judges look for traction, impact and a founder who can explain the business clearly in a few minutes.

Zakat and sadaqah-funded support

Foundations funded by zakat and sadaqah, such as the Zakat and Sadaqat Foundation in Lagos, support people and small businesses through grants and programmes. Their competitions are open to young entrepreneurs based on the programme’s rules; read each call for the current eligibility.

Equity

Equity investors give money in exchange for a share of the business. Nothing is repaid and no interest is charged; investors earn a return only if the business grows in value. They expect a credible plan, a clear use of funds and founders who share the risk.

What all of them want to see

• A real business or a well-tested idea
• A use of funds that adds up and is backed by quotations
• Your own contribution, however modest
• Specific impact: jobs, income, people reached
• A plan for what happens after the money is spent

The Funding hub lists open calls with their deadlines and official links, and each one points to the template that fits it.

Try it free: 5 projects, no card. You only sign in with your email when you start.