FULL DETAILS ON CBN LOANS AND FG INTERVENTIONS FOR SME BUSINESSES

0

CBN LOANS AND FG INTERVENTIONS FOR SME BUSINESSES AND HOW TO APPLY FOR THEM

The Central Bank of Nigeria (CBN) is Nigeria’s apex financial authority and one of its objectives is promoting the development of MSMEs in the country. In the light of this developmental objective, the CBN initiated several intervention schemes.

While some of these schemes provide beneficiaries with loans, others release substantial funding needed for business growth. Importantly, we have conducted thorough findings on the various CBN-initiated loan opportunities targeted at businesses, particularly agricultural businesses and SMEs.

________________________________________________________________
>Do You Want To Receive Update As Soon As We Publish? join our Telegram Channel stay updated with the latest headlines--CLICK HERE
______________________________________________________________

Reading this article further, you’ll find out the top CBN-initiated loan and/or fund schemes for SMEs and the links to their application guidelines.

CBN Non-Interest Accelerated Agricultural Development Scheme (AADS)

Riding on the Federal Government’s mission of reducing Nigeria’s unemployment rate through agriculture, this CBN-initiated scheme aims to engage at least 370,000 Nigerian youths. While AADS will last over a three-year period, it engages Nigerian youths (between 18 and 35 years of age) for them to contribute to agricultural production in the country.

READ ALSO  Life Hack: Always Out Of Cash? Follow These Tips To Avoid Being Broke

Click here to find out more about AADS

CBN Anchor Borrowers Programme (ABP) Intervention for Agriculture

ABP was developed with the objective of providing financial support for businesses and for farmers producing certain commodities. Notably, businesses (applying for ABP) are required to serve as inputs suppliers and large-scale private integrated processors.

You can find out more about ABP here

CBN Agri-Business/Small and Medium Enterprise Investment Scheme (AGSMEIS) Collateral-Free Loan

With the intent of supporting the Federal Government’s provision of financial support for small/medium enterprises and agricultural businesses, the Bankers’ Committee partnered with the Central Bank of Nigeria (CBN) in the establishment of this loan scheme. Specifically, AGSMEIS is targeted at owners of SMEs and agriculture-related businesses and such people can each obtain as much as #10 million (loan) carrying only a 9% annual interest rate.

Find out the application procedure for AGSMEIS by clicking the link here

CBN Healthcare Sector Research and Development Intervention Scheme (HSRDIS)

Being a healthcare-specific grant scheme, HSRDIS is an initiative intended to promote Nigeria’s public healthcare system. Basically, HSRDIS is targeted at research institutes, institutions and pharmaceutical companies. Therefore, the scheme provides the necessary funding for research and development concerned with the provision of diagnosis and vaccination for infectious diseases in the country.

Click the link here to learn more about HSRDIS

CBN Loan for the Creative Industry Financing Initiative (CIFI)

With the intent of promoting the idea of job creation among Nigerian youths (people considered the driving force of the country’s creative industry), the Bankers’ Committee joined hands with the CBN in the establishment of CIFI.

READ ALSO  Naira to Dollars Exchange Rate for today| Exchange rate hits N485 at black market

While CIFI is targeted at investors and entrepreneurs in the country’s IT sub-sectors, the initiative favourably boosts its beneficiaries’ access to long-term affordable financing.

To learn more about CIFI and its application process, you should click here

CBN Micro, Small and Medium Enterprises Development Fund (MSMEDF Loan)

MSMEDF is a CBN initiative established with the intent of promoting the development of micro, small and medium enterprises (MSMEs) in Nigeria. Notably, CBN’s establishment of MSMEDF was necessitated by the need to minimize the massive financial gap hampering the growth of MSMEs in Nigeria.

A sizeable number of Nigeria’s MSMEs are eligible for this loan scheme and importantly (and provided by the Revised Microfinance Policy, Regulatory and Supervisory Framework for Nigeria), such MSMEs should include any of the following:

  1. Artisans
  2. Cottage industries
  3. Trade and general commerce enterprises
  4. Service-based businesses
  5. (Businesses contributing to) agricultural value chain
  6. Businesses concerned with energy-efficient technologies and products
  7. Businesses/enterprises concerned with other CBN-recommended economic activities

Click here to find out the application process for MSMEDF.

 

Conclusion

We hope the information above has helped you find out the leading CBN-initiated loan opportunities for SMEs and how you can apply for them.

* TEXT ADS**
◊Cure and Knock Staphylococcus & Other Infectious Diseases out from your Body within 3 weeks --CLICK HERE

◊Order Our Ultimate Virtual Soccer Hacks and Secretes to Win 100k Daily --CLICK HERE

◊Register Your Business Name With CAC and Get it in less than 2 weeks--CLICK HERE

◊Join our Community and interact with fellow members>> Click here to join

◊JOIN US @TELEGRAM TO RECEIVE UPDATE CLICK HERE


◊Grab Ultimate List of Over 100+ Companies That Pays You Up To $2500 To Blog and Post Online ( #3000 Only))-
READ ALSO  Development Bank of Nigeria –Everything You Need to Know
CLICK HERE

◊Get All Recruitment Jobs Past Questions and Answers--CLICK HERE
____________________________________________________________________

LEAVE A REPLY

Please enter your comment!
Please enter your name here