A lot of people are unaware of the Nigerian government intervention fund that can help boost their businesses. In this piece, we shall list the five (5) government support funds that can boost your business in the year 2022. In 2021, many people benefited from the various government support schemes, while some others who are yet to benefit from the scheme called it a scam. So, this post was created to inform the public and to set the record straight.
Having the right information at hand, you can step into the year 2022 with any of the available government support fund schemes.
5 government support funds that can boost your business
Below are the available federal government support fund that you should watch out for:
1. CBN 100 for 100 PPP
This is an initiative created by the Central Bank of Nigeria (CBN) to enable the flow of finance and investments to businesses that have the potential to kick-start a sustainable economic growth trajectory, accelerate structural transformation, promote diversification, and improve productivity. It is a support to private sector companies with the aim of reducing certain imports, increasing non-oil exports, and improving the FX-generating capacity of the economy.
You can => apply for CBN 100 For 100 N5bn PPP Loan.
2. CBN TIES Loan
TIES means ‘Tertiary Institutions Entrepreneurship Scheme’. It’s Central Bank of Nigeria (CBN) loan designated for Nigerian graduates/undergraduates aimed at curbing the high rate of unemployment in Nigeria.
To apply for CBN TIES Loan, visit, cbnties.com.ng portal.
3. NMFB TCF Loan (free-interest loan)
The NIRSAL Micro Finance (NMFB) Targeted Credit Facility (TCF) loan was launched to support businesses affected by the Covid-19
Pandemic, with business equipment in lieu of cash. Apply for NIRSAL TCF loan.
4. CBN Anchor Borrowers Programme (ABP)
This is another support fund by the Central Bank of Nigeria (CBN), in line with its developmental functions as enshrined in Section 31 of the CBN Act 2007, established the Anchor Borrowers’ Programme (ABP) to create economic linkages between smallholder farmers (SHFs) and reputable companies (anchors) involved in the production and processing of key agricultural commodities. The main objective of the Programme is to provide loans to farmers. To apply, visit https://cbn.gov.ng,
5. Nigeria Youth Investment Fund (NYIF)
NYIF loan was created by the federal government, through the Federal Ministry of Youth and Sports Development (FMYSD) and funded by the Central Bank of Nigeria. The main reason for creating this scheme is to invest in youths’ ideas to help them start up a business, thereby reducing the rate of unemployment in the country.
To benefit, apply for NYIF Loan scheme.