Personal lender Jacaranda offers $10K scholarship for budding entrepreneurs

Turning a bright idea into a successful business has never been easy but one of Australia’s biggest privately owned finance providers plans to give one enterprising young person a leg-up this year.

Brisbane-based Jacaranda Finance has launched the Jacaranda Finance Scholarship for Entrepreneurs, an annual $10,000 grant for an Australian-based student with a promising side hustle.

Candidates must be studying towards a degree or certification in commerce, business, technology or finance at an Australian university or TAFE and have an ABN for their business.

Entries must include a pitch deck: a visual document that provides details about the business model and product offering and how the candidate is using technology to make their operations smarter and more efficient.

Jacaranda CEO Daniel Wessels (pictured) is himself no stranger to the struggles that come standard when you’re trying to get a start-up business off the ground.

Wessels founded the digital micro-lender from his parents’ home back in 2013, with an initial investment of just $1000. Today, Jacaranda is one of Australia’s fastest growing fin-techs, with a $50 million loan book, a reputation for fast, fair and responsible lending and big plans for the future.

Wessels’ entrepreneurialism and acumen have netted him a string of business awards, including the Australian Young Entrepreneur Finance Award, in both 2019 and 2020.

Jacaranda Head of Growth Matt Wong said the company wanted to support other young Australians to strike out for themselves and set up the successful new enterprises of the future.

“We know cash can be hard to come by when you’re studying and trying to support yourself and, if you’re looking to grow a business at the same time, it’s even more challenging,” Wong said.

“A $10,000 cash injection can go a long way, especially in those early stages. The scholarship winner can do as they wish with the money but we hope it goes towards taking their fledgling business to the next level.”

Scholarship entries close on March 31, 2022. For more information, visit www.jacarandafinance.com.au/scholarship