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How To Access Cbn's N220 Billion Development Fund - Business (2) - Nairaland

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Dollar Is Now N220 At Parallel Market While N197.5 At CBN Rate / Dollar Crash To N220 / Startups Can Now Apply To The Cbn’s ₦220 Billion MSME Development Fund. (2) (3) (4)

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Re: How To Access Cbn's N220 Billion Development Fund by signz: 12:57am On Mar 28, 2015
60% for women Nonsense angry.

Men are now being marginalised in this country cry

1 Like

Re: How To Access Cbn's N220 Billion Development Fund by Barblow(m): 12:33am On Mar 29, 2015
soke92:
Pls which bank u advice one to contact for the loan


Bank of Industry (BOI) and or Bank of Agriculture (BOA)
Re: How To Access Cbn's N220 Billion Development Fund by Barblow(m): 12:35am On Mar 29, 2015
signz:
60% for women Nonsense angry.

Men are now being marginalised in this country cry


Daris God ooooooo......

1 Like

Re: How To Access Cbn's N220 Billion Development Fund by uvalued(m): 1:04am On Mar 29, 2015
Barblow:
How to Access the CBN's N220 Billion Micro, Small and Medium Enterprises Development Fund (MSMEDF)

1.0 Is your business in any of the following areas?
. Agriculture
. Manufacturing
. Cottage Industries
. Artisanship
. Services
. Trade and general Commerce
. Renewable energy/energy efficient products and technologies
. Other income generating projects as may be prescribed by the CBN

2.0 If "Yes"....
2.1 Prepare your business plan or statement on how much you want for your business
2.2. You can get loan of up to:
(a) N500,000.00 for your micro-business; and
(b). N50 million for Small & Medium Enterprise (SME)

2.3. Go to your bank or any of the following institutions to access the Fund:
. Microfinance Banks
. Commercial Banks
. Cooperatives
. Finance Companies
. NGO-Microfinance Institutions
. Development Finance Institutions, i.e. Bank of Industry and Bank of Agriculture

3.0. Tell your bank how much you need

4.0. Your bank will discuss your request and provide you the money
4.1 The maximum interest rate of 9.0% p.a (charges inclusive) is applicable to all loans

5.0. Period for the repayment of the loan:
a) For micro business, it is a maximum of one year
b). For small and medium enterprises, it is a maximum of three years

NOTE: 60% of the Fund is reserved for enterprises owned by women; 2% for persons living with disability and 10% for start-up businesses.


For more information, please send e-mail or call:
msmedf@cbn.gov.ng
09-46238600, 09-46238608 or 07080650000 or 07080651392



hmm thanks but i will wait until my bank loan is exhausted then i will apply
Re: How To Access Cbn's N220 Billion Development Fund by Barblow(m): 8:46am On Mar 29, 2015
uvalued:


hmm thanks but i will wait until my bank loan is exhausted then i will apply


It's alright but you dont need to wait until your bank loan is paid off! Cos you can apply for this and if given pay the remaining part loan from the fresh CBN loan. Hope you get it?

1 Like

Re: How To Access Cbn's N220 Billion Development Fund by Barblow(m): 9:58pm On Apr 01, 2015
Has anyone been able to make a positive progress on this CBN's loan? If yes, kindly share please!
Re: How To Access Cbn's N220 Billion Development Fund by uvalued(m): 4:04pm On Apr 03, 2015
Barblow:



It's alright but you dont need to wait until your bank loan is paid off! Cos you can apply for this and if given pay the remaining part loan from the fresh CBN loan. Hope you get it?

ok thanks for the encouragement... from your opinion... 3milllion @ 9%, how much will one be expected to pay?

secondly, wont the bank charge me further for using their service by increasing the interest?

1 Like

Re: How To Access Cbn's N220 Billion Development Fund by Barblow(m): 4:12pm On Apr 03, 2015
uvalued:


ok thanks for the encouragement... from your opinion... 3milllion @ 9%, how much will one be expected to pay?

secondly, wont the bank charge me further for using their service by increasing the interest?


Am not a banker, so don't really know how much you gonna payback but approach your bank think they would be of help
Re: How To Access Cbn's N220 Billion Development Fund by Damolux01(m): 4:16pm On Apr 03, 2015
Is there any Bank of Industry in Osun state? I own a newly established secondary school, and I need a loan for a sound school bus. Thanks!

1 Like

Re: How To Access Cbn's N220 Billion Development Fund by Barblow(m): 8:12pm On Apr 04, 2015
soke92:
Pls which bank u advice one to contact for the loan


Visit your bank branch or Bank of Industry (BOI) and or Bank of Agriculture (BOA) nearest to you.
Re: How To Access Cbn's N220 Billion Development Fund by Barblow(m): 7:49am On Apr 07, 2015
soke92:
Pls which bank u advice one to contact for the loan


Contact your bank or Bank of Industry (BOI) / Bank of Agriculture (BOA)
Re: How To Access Cbn's N220 Billion Development Fund by Barblow(m): 7:51am On Apr 07, 2015
Damolux01:
Is there any Bank of Industry in Osun state? I own a newly established secondary school, and I need a loan for a sound school bus. Thanks!

Am not too sure but I think there is a branch in Ondo State
Re: How To Access Cbn's N220 Billion Development Fund by Damolux01(m): 8:17am On Apr 07, 2015
Barblow:


Am not too sure but I think there is a branch in Ondo State
Thanks, will check it out.

1 Like

Re: How To Access Cbn's N220 Billion Development Fund by Barblow(m): 9:25am On Aug 05, 2015
Do we have anyone in the house who made a progress about this CBN loan facility? Please kindly share if you are making some progress. We would like to learn from you. Thank you.
Re: How To Access Cbn's N220 Billion Development Fund by Barblow(m): 10:40am On May 16, 2018
signz:
60% for women Nonsense angry.

Men are now being marginalised in this country cry
They needed to be encouraged
Re: How To Access Cbn's N220 Billion Development Fund by Barblow(m): 6:30pm On Apr 06, 2023
amadu777:


Please keep us posted

I wonder y CBN doesn't pay direct ?




CBN is called Banker's Bank

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