In a landmark move to transform access to funding for Nigeria’s mid-stage entrepreneurs, Cascador, a leading business accelerator, has partnered with Sterling Bank to unveil a \$2 million Catalytic Fund aimed at reshaping small and medium enterprise (SME) financing in the country.
The initiative introduces a flexible and founder-friendly lending model, combining low-interest debt financing with mentorship, tailored repayment plans, and significantly reduced collateral requirements. Designed exclusively for Cascador alumni, the fund seeks to empower high-potential ventures in key sectors including healthcare, education, logistics, manufacturing, agri-business, and financial inclusion.
“This is a breakthrough moment for Cascador and the entrepreneurs we serve,” said Dave DeLucia, Founder of Cascador. “Through our partnership with Sterling Bank, we’re deploying capital in a way that’s truly catalytic—pairing mentorship and education with access to financing that reflects the real-life challenges of running a business in Nigeria.”
Sterling Bank will act as custodian and structuring partner for the fund, offering a suite of financial instruments ranging from equipment loans to revenue-based financing. According to Abubakar Suleiman, Managing Director and CEO of Sterling Bank, the partnership marks a shift in how institutions support purpose-driven entrepreneurship.
“We’re proud to support entrepreneurs with capital that meets them where they are—flexible, affordable, and designed around the realities of building a business in Nigeria,” Suleiman stated. “This isn’t just about funding—it’s about redefining the financial support system to prioritize impact over paperwork and progress over red tape.”
Unlike conventional lending, the Cascador-Sterling model emphasizes long-term business viability and entrepreneur credibility. Beneficiaries will benefit from custom repayment schedules, technical assistance from leading advisors, and a first-loss guarantee from Cascador to reduce lender risk.
Applications for the fund opened on February 14 and will culminate in an exclusive Pitch Day event on May 14, where finalists will present to an elite panel comprising business leaders, investment professionals, and faculty advisors. Winners will receive a combination of debt and equity financing based on impact, scalability, and growth potential.
Additional support for the initiative comes from the Nigeria Sovereign Investment Authority (NSIA) and the Development Bank of Nigeria (DBN), who will provide innovation awards to top-performing ventures at the Pitch Day.
Since its inception in 2019, Cascador has supported more than 60 entrepreneurs who have collectively raised over \$55 million and created thousands of jobs across Africa. The Catalytic Fund is a bold step forward in the organization’s mission to strengthen the continent’s entrepreneurial ecosystem.
Entrepreneurs interested in joining the 2025 Cascador Accelerator Program and becoming eligible for the fund are encouraged to apply via https://www.cascador.org.