The Creative Industry Financing Initiative (CIFI) is a loan scheme created in partnership with the Central Bank of Nigeria (CBN) to provide a loan for people in creative industry such as; music, fashion, entertainment and information technology. In this post, you will learn how to apply for CIFI loan through the GTBank.
CIFI loan is to enable Nigerians in the Creative Industry to a start-up business of their own in respective categories.
Accessible loan amount and interest rate
You can access up to N500 million CIFI loan for your creative business, with low-interest rate of 9% per annum.
Flexible repayment plan spread over 3 to 10 years.
Requirements for CIFI loan
To be considered for CIFI loan, applicants must meet the following requirements;
- Applicants must be into creative business (fashion, music, movies, and information technology).
- Must be dully registered with the Corporate Affairs Commission (CAC).
- Valid means of identification (Voter’s card or National Identity Number, NIN) – see short code to check your NIN on your mobile phone.
- Bank Verification Number (BVN) and a bank account.
- Must provide a clear business plan or proposal.
- Credit Bureau Report with no unpaid obligations.
- Satisfactory CRMS report of owners, sponsors, and directors.
- Active phone number and email address.
How to apply for the CIFI loan
To apply for CIFI loan, follow the steps below;
- Visit GTBank CIFI loan portal,
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Fill in your details appropriately.
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Click ‘Submit’, and download CIFI application form through the link provided,
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Print out the form and fill it.
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Scan the completed form and send to this email address www.cifi@gtbank.com. Also check out: List of Federal Government Loans 2020 (See how to apply for each of them)
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Thank you for your interest in the Creative Industry Financing Initiative (CIFI) provided in partnership with the Central Bank of Nigeria (CBN). This information is brought to you by nyscinfo.com correspondent..
Other loan you can access
- ₦75 billion NYIF Loan
- Federal Government TraderMoni Loan
- CBN AGSMEIS Loan in Nigeria (2020)
- CBN NIRSAL COVID-19 Loan
- N-power GEEP Loan
- CBN loan for Corpers 2020
If you have any question or contribution, go to the comment section below.
If fed govt give me 3,000,000 i will buy a house jux a normal one to make it business house so that which business i will create for the youths that will benefit from it so that they can be indépendent so that they can be able to help them self and thier parents. Like those going to skul can get money for t.p,hand out etc. I can teach them catering services such as snacks (spring roll,samosa,onion cake,arabian meat pie,chicken cotlet) and some will go to (poultry,fishering farming).
if i happened to be given the said amount 3 million naira as stated,i will section the money into enterprenurship such as photography which i believe it is a lucrative business such that profit is made from it. Above all, part of the money will be aloted to farming ( irrigation farming) because most farmers concentrate on producing their farm product only during the raining season, while i want to use that opportunity to produce such crops to meet up with the customer demand even during the dry season.
If I was given #3million I will diversify the money and start an ICT business, enter into AGRO( rearing of cat fish) and register my business name with corporate affairs commission and advertise it.
I will start the business very soon
If I’m given 3 million by the federal government I’ll invest my mom with a provision store and my junior sister with a fashioned design shop,both with 1 million and I’ll invest myself in a unisex saloon business which I’ve been dreaming to have for a while now
If I would be given 3 million by the federal government, I’ll spend 1 million to invest my mom on a provision store and my junior sis with her fashioned design shop and then the remaining 2 million to invest in a unisex saloon business which I’ve been dreaming to have for a while now. Thank you
Coten material
I will go into fish farming with the money.
I will invest in a poultry business
If the government gives me 3 million.. well….I will invest 1 million in real estate..buy lands and sell it off when it appreciates…then I will also support my mum’s business…I am not happy to see her shop crumbling day by day and I cant do anything about it…then the rest of the money will be pumped into having my clothing business…and assisting my younger ones