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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.

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MSMEDF loan was developed by CBN after noticing huge financing constraint which hinders the Micro, Small and Medium Enterprises (MSMEs).

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.
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Requirements for MSMEDF loan

To access Micro, Small and Medium Enterprises Development Fund (MSMEDF) loan, applicants must meet the following requirements;

  1. Applicants must have valley d means of identification

  2. Bank Verification Number (BVN) and bank account

  3. Active Phone number and email address.

  4. 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.

  1. Apply through any nominated PFIs (Participating Financial Institutions) for financing.

  2. PFIs shall assess the value or quality of the applications for economic and financial viability.

  3. The PFIs is to forward the applications through the State SPV to the CBN in the prescribed format.

  4. CBN shall undertake a pre-disbursement assessment of financing requests presented to it by the SPVs on behalf of the nominated PFIs.

  5. CBN shall approve and disburse funds directly to the PFIs’ correspondent bank accounts.

Also Read:  #EndSARS: How to Apply for Access Bank N50 Billion Loan and Grant

Note: MSMEDF loan financing repayment shall be annually.

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Source: Nyscinfo

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11 Comments

11 Comments

  1. Timothy Akpan

    August 3, 2021 at 4:33 am

    Please how can we access this loan please send me the link

  2. Rabiu bello

    July 9, 2021 at 7:56 pm

    Sir am very interested I need the official web site for the loan sir

  3. Hauwa Tijjani

    June 27, 2021 at 6:50 pm

    When is npowee geep loan portal opening

  4. Afolabi Julius

    June 3, 2021 at 4:58 am

    Please am interested in the loan, forward the link to my email. juliusafolabi689@gmail.com

  5. Isyaku garba

    February 19, 2021 at 10:48 pm

    thank you sir,for this post pls send the link I want apply.

  6. Emmanuel Aregbesola

    August 18, 2020 at 9:50 am

    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.

  7. Mr. Choice.

    July 30, 2020 at 10:54 pm

    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

      July 12, 2021 at 4:24 pm

      How can I apply please the link

  8. Kachi

    July 28, 2020 at 12:09 pm

    Pls sir I want to access the loan

  9. Wachin Demenenge

    July 27, 2020 at 4:15 pm

    Sir according to your how to access the loan number one, I want to ask what is PFI?

    • John sornda

      August 3, 2021 at 7:49 pm

      Please sir I am interested in the loan pls the link

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