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,
Fill in your details appropriately.
Click ‘Submit’, and download CIFI application form through the link provided,
Print out the form and fill it.
Scan the completed form and send to this email address firstname.lastname@example.org. Also check out: List of Federal Government Loans 2020 (See how to apply for each of them)
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