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How To Access The N50billion CBN COVID-19 Loan - Business (6) - Nairaland

Nairaland Forum / Nairaland / General / Business / How To Access The N50billion CBN COVID-19 Loan (9201 Views)

Covid-19: CBN N50billion AGSMEIS / TCF Loan For Nigerians / How To Validate Your BVN For The N50billion CBN COVID-19 Loan / Stanbic IBTC, NIRSAL, Seal N50billion Agric Financing Deal (2) (3) (4)

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Re: How To Access The N50billion CBN COVID-19 Loan by sunboluwaji(m): 6:18pm On Jun 18
08035774057. Add me watzzap group.
Re: How To Access The N50billion CBN COVID-19 Loan by dauntless15(m): 11:14pm On Jun 24
Dozis:

I was able to register and submit mine last night but the problem is that I couldn't sign at the space provided for the signature.
If you haven't been able to do it just wait till around 2am in the night, that's when I did mine
seems it's no longer working.
Re: How To Access The N50billion CBN COVID-19 Loan by ndyfaby: 10:01pm On Jun 29
<a href="https://trainages.com/nalda-volunteer-programme/">NALDA Volunteer Programme for Nigerian Youths ( ND, HND or B.SC Holders)</a> is now open to interested Applicants
Re: How To Access The N50billion CBN COVID-19 Loan by ndyfaby: 7:24pm On Jul 22
disbursement money don start??
Re: How To Access The N50billion CBN COVID-19 Loan by hismade: 11:03pm On Jul 24
ndyfaby:
how legit is this

This is A registered Company
Re: How To Access The N50billion CBN COVID-19 Loan by hismade: 11:03pm On Jul 24
Hello,I just found a new way which I so much belief can generate an extra income for us without disturbing what we are currently doing, I will like you to take a look at it.
For more details and free training.

https://wa.me/message/GPEXHER3JKGRO1
Re: How To Access The N50billion CBN COVID-19 Loan by ndyfaby: 5:12pm On Jul 25
like seriously


hismade:
Hello,I just found a new way which I so much belief can generate an extra income for us without disturbing what we are currently doing, I will like you to take a look at it.
For more details and free training.

https://wa.me/message/GPEXHER3JKGRO1
Re: How To Access The N50billion CBN COVID-19 Loan by Bestnigeriabusi(m): 9:48pm On Aug 26
How to Apply for CBN N50bn COVID-19 Loan

click here for the full details >>>. https://www.bestnigeriabusinessplan.com.ng/cbn-covid-19-loan-application-how-to-apply-for-cbn-n50bn-covid-19-loan/
Re: How To Access The N50billion CBN COVID-19 Loan by wealthpreach: 1:15am On Aug 27
Bestnigeriabusi:
How to Apply for CBN N50bn COVID-19 Loan

click here for the full details >>>. https://www.bestnigeriabusinessplan.com.ng/cbn-covid-19-loan-application-how-to-apply-for-cbn-n50bn-covid-19-loan/

can u write a bankable plan?
Re: How To Access The N50billion CBN COVID-19 Loan by Bestnigeriabusi(m): 10:39am On Aug 28
How To Apply for the Enugu SME Business service Loan

click the link for the full details >>> https://www.bestnigeriabusinessplan.com.ng/how-to-apply-for-the-enugu-sme-business-support-loan/
Re: How To Access The N50billion CBN COVID-19 Loan by ndyfaby: 5:34pm On Aug 28
can non indigene apply?
Re: How To Access The N50billion CBN COVID-19 Loan by Powersurge: 1:41am On Oct 15
Jonwesley:


Yes you are right about that. However it's just a variant of the intervention funds from the CBN, and usually the concepts are the same, few changes are noticeable. I started the training today with online zoom cloud meeting app, with whatsApp used to register me for the Covid-19 factor loan called AGSMEIS. It's a 7 year tenor, 5% int rate till 2021 March when it will become 9% all inclusive rate. My training continues next week. There will be a business plan to be done by self or by the trainers with a #10k cost. Which will be uploaded to the CBN NIRSAL AGSMEIS site And so on before you are invited for the interview proper.

I just registered for this. I heard it's now dragging. Some people say they have being on it for about 1 year. Others say only about 1% get approval. Please have u gotten to a critical stage yet or have u been paid?

Did u contact the training center or they contact u. What are they looking at in the business plan?
Re: How To Access The N50billion CBN COVID-19 Loan by Powersurge: 1:47am On Oct 15
Jonwesley:


That's ok. The option would have been sole trader or sole proprietorship, rather than the limited liability which I explained earlier. You are fine with that please.

Bro you seems to have some knowledge about this. I need guide. I am new applicant. Do i contact the training institutes or they will contact me? What are they looking for in the business plan? What are the chances of a new venture getting the loan? because it seems CBN's body language is leaning towards existing ventures.
Re: How To Access The N50billion CBN COVID-19 Loan by ndyfaby: 8:55am On Oct 15
assist
Re: How To Access The N50billion CBN COVID-19 Loan by Jonwesley(m): 10:28am On Oct 15
Powersurge:


Bro you seems to have some knowledge about this. I need guide. I am new applicant. Do i contact the training institutes or they will contact me? What are they looking for in the business plan? What are the chances of a new venture getting the loan? because it seems CBN's body language is leaning towards existing ventures.

PROCESS
Step 1: Get Trained
It is mandatory for all applicants to attend training with a CBN certified Entrepreneurship Development Institute (EDI), they have centers spread across the country.
Look for an accredited EDI around your location and get trained. The Certificate from the training is your target, because without it, you are not qualified to apply.
The Business plan will be part of the training from the EDI, some centres help write the Business plan for applicants at a fee. The Biz plan is all about your business you are into, with Executive summary, Introduction, coy organization, Techical analysis, Market Research and Analysis, Financial projections (P & L, Cash flow, Balance sheet), you can read more about this online.
The Biz plan would have to be uploaded to the NIRSAL online site
Step 2: Apply For Loan
The Entrepreneurship Development Institute (EDI) will guides and assists you in applying for the loan by getting all necessary documents required for the processing of the loan



Step 3: Receive Funds
The Loan fund is paid into the account of beneficiaries. While unqualified candidates are given feedback.

Step 4: Get Business Support Services
The Entrepreneurship Development Institute (EDI) will assist you to implement the business plan drawn and also provide business support services commercially.

Step 5: Make Sales
You sell your products and services to pay back loans and make profit, beneficiaries are expected to run the business by keeping proper records, monitor sales, and expenses to maximize profit and pay back the loan.

The chances are very bright, even if it's a new venture, but it must be registered. Even without any history, you are good to go. Many pple have been given since May when I learn't of it. But your business should be one that has a value chain development in it. I'm an applicant, and awaiting my interview. Another requirement is that you will have to open a personal current account with a Nirsal Microfinance Bank nearest to you.

Humbly submitted.

Good luck.
Re: How To Access The N50billion CBN COVID-19 Loan by Jonwesley(m): 10:36am On Oct 15
Powersurge:


I just registered for this. I heard it's now dragging. Some people say they have being on it for about 1 year. Others say only about 1% get approval. Please have u gotten to a critical stage yet or have u been paid?

Did u contact the training center or they contact u. What are they looking at in the business plan?

Yes, the dragging is because of delayed processing and Naija issues. Also so many pple have been trained and more are applying daily. So far so good, but a lot of rumours are on anyway. It could be selective anyway based on the quality of your Business plan and the attractiveness of same to Nirsal. Don't believe all the side talks and face what you want. I'm still awaiting my interview and confident that I would be invited soon. A friend of mine got his invitation on Monday, and he applied about the same time with me in June this year.
Re: How To Access The N50billion CBN COVID-19 Loan by Powersurge: 3:30pm On Oct 15
Jonwesley:


PROCESS
Step 1: Get Trained
It is mandatory for all applicants to attend training with a CBN certified Entrepreneurship Development Institute (EDI), they have centers spread across the country.
Look for an accredited EDI around your location and get trained. The Certificate from the training is your target, because without it, you are not qualified to apply.
The Business plan will be part of the training from the EDI, some centres help write the Business plan for applicants at a fee. The Biz plan is all about your business you are into, with Executive summary, Introduction, coy organization, Techical analysis, Market Research and Analysis, Financial projections (P & L, Cash flow, Balance sheet), you can read more about this online.
The Biz plan would have to be uploaded to the NIRSAL online site
Step 2: Apply For Loan
The Entrepreneurship Development Institute (EDI) will guides and assists you in applying for the loan by getting all necessary documents required for the processing of the loan



Step 3: Receive Funds
The Loan fund is paid into the account of beneficiaries. While unqualified candidates are given feedback.

Step 4: Get Business Support Services
The Entrepreneurship Development Institute (EDI) will assist you to implement the business plan drawn and also provide business support services commercially.

Step 5: Make Sales
You sell your products and services to pay back loans and make profit, beneficiaries are expected to run the business by keeping proper records, monitor sales, and expenses to maximize profit and pay back the loan.

The chances are very bright, even if it's a new venture, but it must be registered. Even without any history, you are good to go. Many pple have been given since May when I learn't of it. But your business should be one that has a value chain development in it. I'm an applicant, and awaiting my interview. Another requirement is that you will have to open a personal current account with a Nirsal Microfinance Bank nearest to you.

Humbly submitted.

Good luck.

Waoh! Explicit! I am very grateful for your input. My business is registered (awaiting my certificate). Also I gave someone some money to be doing the business since 2018. She is not doing bad. But it was a micro scale. And part time basis. Both she and I are busy. I don't know if I should reference this in my application. I will be starting the training with SMEDAN Monday.

This year, I planned to take the business up. Hence the reason for seeking loan. We have done market research in two states and 3 major markets. And being a data analyst by profession and currently working as a sales Analyst in a major FMCG conglomerate, it's was easy for me to analyse the market research.

Based on the research, I cut potential sales by more than half. And putting into consideration the fact that we are new in the market. Yet we still have over 4 ROI. This is giving me concerns. because the lenders might see the project as being too optimistic. What do you suggest? And after the financial analysis, if we are able to do 30% of our projection (which had been reduced more than half), we will still be on the green side. Very green side.
Re: How To Access The N50billion CBN COVID-19 Loan by Jonwesley(m): 3:41pm On Oct 15
Powersurge:


Waoh! Explicit! I am very grateful for your input. My business is registered (awaiting my certificate). Also I gave someone some money to be doing the business since 2018. She is not doing bad. But it was a micro scale. And part time basis. Both she and I are busy. I don't know if I should reference this in my application. I will be starting the training with SMEDAN Monday.

This year, I planned to take the business up. Hence the reason for seeking loan. We have done market research in two states and 3 major markets. And being a data analyst by profession and currently working as a sales Analyst in a major FMCG conglomerate, it's was easy for me to analyse the market research.

Based on the research, I cut potential sales by more than half. And putting into consideration the fact that we are new in the market. Yet we still have over 4 ROI. This is giving me concerns. because the lenders might see the project as being too optimistic. What do you suggest? And after the financial analysis, if we are able to do 30% of our projection (which had been reduced more than half), we will still be on the green side. Very green side.

OK.! Your experience counts, optimissm is essential in Business Plans., and based on this I think your background puts you in alpha position to defend your loan when the stage is set. However, i emphasize that you must tailor your loan to a value chain development business, not essentially a fast moving consumer product per se, that is what NIRSAL champions please. All the best.
Re: How To Access The N50billion CBN COVID-19 Loan by samshoz(m): 7:38am On Oct 18
.
Re: How To Access The N50billion CBN COVID-19 Loan by ndyfaby: 4:00pm On Oct 18
smiley

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