2020 CBN MSMEDF Federal government 5% loan Na true
No more complain for SME’s that there is no money to setup or run my business
No more procrastination …. Apply for CBN MSMEDF Federal Government loan today to setup your new business or take your existing business to the next level
What is CBN MSMEDF Loan?
The CBN launched the MSME Development Fund on August 15, 2013 with a share capital of N220 billion. The Fund was established in recognition of the significant contributions of the Micro, Small and Medium Enterprises (MSME) sub-sector to the economy and the existing huge financing gap.
Ten (10) percent of the Fund has been devoted to developmental objectives such a grants, capacity building and administrative costs while ninety (90) percent commercial component will be released to Participating Financial Institutions(PFIs) at 2% for on-lending to MSMEs at a maximum interest rate of 9% per annum.
Eligible activities to be financed include agricultural value chain, services, cottage industries, artisans, trade and commerce and any income generating business as may be prescribed by the CBN from time to time.
What categories of entrepreneurs can apply for the Fund?
(a) Micro entrepreneurs (i. e. borrowers seeking loans of less than N500,000)
are to approach any of the four institutions:
* Microfinance Banks * NGO/Microfinance Institutions
* Financial Cooperatives * Finance Companies
(b) Small and Medium Enterprises (SMEs) (i.e. prospective borrowers seeking between N500, 000 and N50million) are to approach any of these institutions:
Deposit Money Banks
Bank of Industry (BOI)
Bank of Agriculture)
Who are the Participating Financial Institutions?
The PFIs under the Fund are as follows:
Micro borrowers (N500,000 to N5,000,000) would approach:
- Microfinance Banks
- NGO-Microfinance Institutions
- Finance Companies
- Financial Cooperatives
SME borrowers (N5,000,000 to N50,000,000) would approach:
- Deposit Money Banks and Development Finance Institutions (Bank of Agric and Bank of Industry)
What are the activities that can be financed under the Fund?Agricultural value chain activities,
Manufacturing Cottage Industries,
Trade and general commerce,
Renewable energy or energy efficient products and technologies, and
Guidelines to develop your Business Plan
Our organization has setup business plan template of more than 30 different businesses on our server to guide youths on developing their application
Click on the link below for the business plan
And the other 2 links below will guide you on how to develop your own executive summary and financial plan
For further information click on the link below
For further enquires, please call us on 07062284261, 07082014770