Apply for CBN Micro, Small and Medium Enterprises Development Fund (MSMEDF) 2022, N220 billion
CBN launches MSME Development Fund with N220 billion share capital. The fund was set up to make significant contributions to the economy of the Micro, Small and Medium Enterprises (MSME) sub-sector and to recognize the existing large financial gap.
Contents
₦250,000 FG Loan by NDE
>>>> APPLY HERE NOW
Federal Government SMEDAN Loan
Amount: ₦1,000,000 per Individual
>>>> APPLY HERE NOW
Lagos State MSME Recovery Fund
Amount: ₦1,000,000 per Individual
>>>> APPLY HERE NOW
CBN Covid-19 Loan
Amount: ₦1,000,000 to ₦25,000,000 per Individual
>>>>> APPLY HERE NOW
Nigeria Youth Investment Fund
Amount: ₦250,000 to ₦500,000 per Individual
>>>>> APPLY HERE NOW
Ten (10) percent of the MSMEDF – MSME Development Fund is dedicated to development goals such as grants, capacity building and administrative spending, while ninety (90) percent of the commercial part is dedicated to partner financial institutions (PFIs) at a rate of 2% for lending to MSMEs. Will be published. 9% per year at the maximum interest rate.
Eligible activities for financial assistance include agricultural value chain, services, cottage industries, artisans, trade and commerce and any income generating business as may be specified by CBN from time to time.
Requirements
In line with the provisions of the Revised Microfinance Policy, Regulatory and Supervisory Framework for Nigeria, enterprises to be funded under the Scheme include:
- Micro Enterprises
- Small and Medium Enterprises (SMEs)
The following are eligible activities under the Fund:
- Microenterprises
- Agricultural value chain activities
- Cottage Industries
- Artisans
- Services
- Renewable energy/energy efficient product and technologies
- Trade and general commerce
Other economic activity as may be prescribed by the CBN
Note: Only 10% of the Commercial component of the Fund shall be channeled to trade and commerce.