Loans/Finance
How To Access CBN MSMEDF Loan 2022
The Central Bank of Nigeria (CBN) has launched the Micro, Small and Medium Enterprises Development Fund (MSMEDF) aimed at promoting a healthy financial system in Nigeria. In this post, you will learn how to access CBN MSMEDF loan, and the necessary requirements.
MSMEDF loan was developed by CBN after noticing huge financing constraint which hinders the Micro, Small and Medium Enterprises (MSMEs).
Contents
Objective of MSMEDF Loan
- To channel low return funds to the MSME sub-sector of the Nigerian economy via Participating Financial Institutions (PFIs).
- Increase output and productivity for both micro and small enterprises.
- Create more jobs and reduce the increasing rate of unemployment in Nigeria.
Requirements for MSMEDF loan
To access Micro, Small and Medium Enterprises Development Fund (MSMEDF) loan, applicants must meet the following requirements;
- Applicants must have valley d means of identification
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Bank Verification Number (BVN) and bank account
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Active Phone number and email address.
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Applicants must have business under any of the following categories;
- Agricultural value chain
- Services
- Trade and general commerce
- Artisans
- Cottage Industries
- Renewable energy/energy efficient product
- Technologies
- Others
Collateral for the loan
Any of the following educational documents can serve as collateral;
- SSCE or NABTEB
- National Diploma (ND)
- National Certificate of Education (NCE)
- Higher National Diploma (HND)
- University degree (NYSC Certificate where applicable) and a guarantor.
How to Access CBN MSMEDF Loan.
- Apply through any nominated PFIs (Participating Financial Institutions) for financing.
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PFIs shall assess the value or quality of the applications for economic and financial viability.
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The PFIs is to forward the applications through the State SPV to the CBN in the prescribed format.
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CBN shall undertake a pre-disbursement assessment of financing requests presented to it by the SPVs on behalf of the nominated PFIs.
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CBN shall approve and disburse funds directly to the PFIs’ correspondent bank accounts.
Note: MSMEDF loan financing repayment shall be annually.
Other hot loan opportunities for you
- CBN/GTBank CIFI loan
- ₦75 billion NYIF Loan
- CBN NIRSAL COVID-19 Loan
- FarmerMoni Loan
- NHF Loan from Federal Mortgage Bank of Nigeria
- Federal Government TraderMoni Loan
- Npower GEEP Loan
- CBN AGSMEIS Loan
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Source: Nyscinfo
Timothy Akpan
at
Please how can we access this loan please send me the link
Rabiu bello
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Sir am very interested I need the official web site for the loan sir
Hauwa Tijjani
at
When is npowee geep loan portal opening
Afolabi Julius
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Please am interested in the loan, forward the link to my email. juliusafolabi689@gmail.com
Isyaku garba
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thank you sir,for this post pls send the link I want apply.
Emmanuel Aregbesola
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Thank you for this info, I’m interested in the lone please, kindly send the link to get forward about it to my mailbox. Anticipating please. Also what’s the meaning of SPV sir.
Mr. Choice.
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First of all l greet you people for effort and time,Good will bless you guys.which bank here in warri can we consult apart from Nirsal micro finance bank.l leave in warri, Delta State.Asaba is far from warri.l mean the MSMEDF.l have all the requirement
Nafiu Mohammed Mataimaki
at
How can I apply please the link
Kachi
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Pls sir I want to access the loan
Wachin Demenenge
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Sir according to your how to access the loan number one, I want to ask what is PFI?
John sornda
at
Please sir I am interested in the loan pls the link