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Nairaland Forum / Nairaland / General / Agriculture / CBN’S N220 Billion MSME Development Fund- How To Access It. (42947 Views)
How To Apply For CBN Agriculture LOAN 2016 (NO COLLATERAL) / Just A Month To Access This Loan Anywhere In Naija / How To Access CBN-MSME's Fund Through Skyebank (2) (3) (4)
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CBN’S N220 Billion MSME Development Fund- How To Access It. by Lesgupnigeria(m): 11:11pm On Apr 11, 2015 |
I hope this will be helpful for people looking to access loan for agricultural business Finally the Central Bank of Nigeria has published the procedure for accessing the fund. Find text below. 1.0 Is your business in any of the following areas? . Agriculture . Manufacturing . Cottage Industries . Artisanship . Services . Trade and general Commerce . Renewable energy/energy efficient products and technologies . Other income generating projects as may be prescribed by the CBN 2.0 If “Yes”…. 2.1 Prepare your business plan or statement on how much you want for your business 2.2. You can get loan of up to: (a) N500,000.00 for your micro-business; and (b). N50 million for Small & Medium Enterprise (SME) 2.3. Go to your bank or any of the following institutions to access the Fund: . Microfinance Banks . Commercial Banks . Cooperatives . Finance Companies . NGO-Microfinance Institutions . Development Finance Institutions, i.e. Bank of Industry and Bank of Agriculture 3.0. Tell your bank how much you need 4.0. Your bank will discuss your request and provide you the money 4.1 The maximum interest rate of 9.0% p.a (charges inclusive) is applicable to all loans 5.0. Period for the repayment of the loan: a) For micro business, it is a maximum of one year b). For small and medium enterprises, it is a maximum of three years NOTE: 60% of the Fund is reserved for enterprises owned by women; 2% for persons living with disability and 10% for start-up businesses. There have been reports of bank branches claiming ignorance of the fund. In that eventuality or for more information, please send e-mail: msmedf@cbn.gov.ng 54 Likes 11 Shares |
Re: CBN’S N220 Billion MSME Development Fund- How To Access It. by Babacele: 11:17pm On Apr 11, 2015 |
God bless you bro! 3 Likes 1 Share |
Re: CBN’S N220 Billion MSME Development Fund- How To Access It. by stjsd(m): 11:19pm On Apr 11, 2015 |
Good one 1 Like |
Re: CBN’S N220 Billion MSME Development Fund- How To Access It. by sholatech(m): 11:20pm On Apr 11, 2015 |
But they didn't mention the Collateral part? 9 Likes |
Re: CBN’S N220 Billion MSME Development Fund- How To Access It. by kelvin961: 6:06am On Apr 12, 2015 |
Lesgupnigeria: What are there requirements for collateral ? |
Re: CBN’S N220 Billion MSME Development Fund- How To Access It. by jamp: 10:19am On Apr 12, 2015 |
That loan is not easy to get. The agriculture part is for agroallied business and not for livestock farming. To access the funds in Abuja, you must have a collateral in juicy areas of Abuja. I was previledged to do a presentation on the funds last month in a commercial bank, one of the requirement is a good collateral which the bank will sell to recover the funds in case the farmer default I wish they can simplify the loan cos of small scale farmers. 5 Likes |
Re: CBN’S N220 Billion MSME Development Fund- How To Access It. by dav8id(m): 12:26pm On Apr 12, 2015 |
4 Likes |
Re: CBN’S N220 Billion MSME Development Fund- How To Access It. by LSA: 2:36pm On Apr 12, 2015 |
Let's be careful about giving wrong info. You can also get the loan for livestock farming and not just Agro allied business. Am a beneficiary of the loan for livestock farming. Truth be told, the loan is not easy to get. Also I am based in a abuja and I use a collateral outside abuja to secure the loan 2 Likes |
Re: CBN’S N220 Billion MSME Development Fund- How To Access It. by Lesgupnigeria(m): 3:00pm On Apr 12, 2015 |
Loans are not only being given in abuja,you can get the loan anywhere in the country just follow the procedure. Collateral is also required to access the loan depending on the amount to be loaned |
Re: CBN’S N220 Billion MSME Development Fund- How To Access It. by jamp: 4:18pm On Apr 12, 2015 |
LSA: Which bank gave u the loan (I mean the cbn 220bn loan) in abuja for livestock farming. |
Re: CBN’S N220 Billion MSME Development Fund- How To Access It. by Teagirl(f): 4:40pm On Apr 12, 2015 |
jamp:if you are a farmer and you stay in abuja... Contact me, am looking for people in agric business to come acces loan |
Re: CBN’S N220 Billion MSME Development Fund- How To Access It. by LSA: 5:05pm On Apr 12, 2015 |
jamp: Yes. It is the CBN MSME Loan. I accessed it through heritage bank 2 Likes 1 Share |
Re: CBN’S N220 Billion MSME Development Fund- How To Access It. by jamp: 5:24pm On Apr 12, 2015 |
LSA: Thanks bro. I will confirm tomorrow from our mgt. The product paper I used said livestock farming is not included. Thanks again. How is ur farm doing? |
Re: CBN’S N220 Billion MSME Development Fund- How To Access It. by LSA: 9:48pm On Apr 12, 2015 |
jamp: You are welcome bro. Farm is doing great. Pls do confirm. Thanks |
Re: CBN’S N220 Billion MSME Development Fund- How To Access It. by omotititi: 8:40am On Apr 13, 2015 |
Jamp.....we need this loan to expand our capacity. Please lets work together to get this cheap funding from CBN/Govt... How is your farm Jamp? 1 Like |
Re: CBN’S N220 Billion MSME Development Fund- How To Access It. by Lesgupnigeria(m): 8:54am On Apr 13, 2015 |
All what i see is GREEN SEASON |
Re: CBN’S N220 Billion MSME Development Fund- How To Access It. by Lesgupnigeria(m): 6:44am On Apr 14, 2015 |
No more worries about who to talk when starting out,you can send a mail or call me for advise,free mentorship for a headstart in your agribusiness. You can also book one-on-one arrangement to discuss about how to succeed in the business of agriculture. It is absolutely Free. 4 Likes |
Re: CBN’S N220 Billion MSME Development Fund- How To Access It. by ejibamui: 3:11pm On Apr 14, 2015 |
@lesgupnigeria can u pls help a brother to secure the aforementioned loan? I've about 2 hectares of land that I can use for agriculture but how to get capital to finance it is my problem. |
Re: CBN’S N220 Billion MSME Development Fund- How To Access It. by dammike(m): 6:01pm On Apr 14, 2015 |
[quote author=Lesgupnigeria post=32617193]I hope this will be helpful for people looking to access loan for agricultural business Finally the Central Bank of Nigeria has published the procedure for accessing the fund. Find text below. 1.0 Is your business in any of the following areas? . Agriculture . Manufacturing . Cottage Industries . Artisanship . Services . Trade and general Commerce . Renewable energy/energy efficient products and technologies . Other income generating projects as may be prescribed by the CBN 2.0 If “Yes”…. 2.1 Prepare your business plan or statement on how much you want for your business 2.2. You can get loan of up to: (a) N500,000.00 for your micro-business; and (b). N50 million for Small & Medium Enterprise (SME) 2.3. Go to your bank or any of the following institutions to access the Fund: . Microfinance Banks . Commercial Banks . Cooperatives . Finance Companies . NGO-Microfinance Institutions . Development Finance Institutions, i.e. Bank of Industry and Bank of Agriculture 3.0. Tell your bank how much you need 4.0. Your bank will discuss your request and provide you the money 4.1 The maximum interest rate of 9.0% p.a (charges inclusive) is applicable to all loans 5.0. Period for the repayment of the loan: a) For micro business, it is a maximum of one year b). For small and medium enterprises, it is a maximum of three years NOTE: 60% of the Fund is reserved for enterprises owned by women; 2% for persons living with disability and 10% for start-up businesses. There have been reports of bank branches claiming ignorance of the fund. In that eventuality or for more information, please send e-mail: msmedf@cbn.gov.ng How can the loan be accessed? |
Re: CBN’S N220 Billion MSME Development Fund- How To Access It. by Lesgupnigeria(m): 7:34pm On Apr 14, 2015 |
follow the procedure i listed above to access the loan 1 Like |
Re: CBN’S N220 Billion MSME Development Fund- How To Access It. by Lesgupnigeria(m): 7:37pm On Apr 14, 2015 |
ejibamui:you can follow the procedure i listed above to access it if there is any challenge along the way,i will be willing to help you out |
Re: CBN’S N220 Billion MSME Development Fund- How To Access It. by boygeorge: 8:02am On Apr 15, 2015 |
Teagirl:how can you be contacted. Na wa for you o anyway let's talk 08060661311. I stay in Abuja. |
Re: CBN’S N220 Billion MSME Development Fund- How To Access It. by boygeorge: 8:07am On Apr 15, 2015 |
LSA:hi bro I stay in Abuja as well and I already have a thriving poultry though on a small scale. I also have a property in Abuja that can be used as collateral. Please I would wish to talk with you so you can put me through. My number is 08060661311. Please send me a text so I can call you. Many thanks and God bless. |
Re: CBN’S N220 Billion MSME Development Fund- How To Access It. by Lesgupnigeria(m): 6:43pm On Apr 15, 2015 |
Access your agribusiness fund...Act Now |
Re: CBN’S N220 Billion MSME Development Fund- How To Access It. by Lesgupnigeria(m): 9:01am On Apr 16, 2015 |
Have you started acting on this info to access this fund? Act fast!!! |
Re: CBN’S N220 Billion MSME Development Fund- How To Access It. by sholatech(m): 1:45pm On Apr 16, 2015 |
The Key Challenge in accessing this is collateral requirements. All banks contacted so far emphasised this |
Re: CBN’S N220 Billion MSME Development Fund- How To Access It. by Lesgupnigeria(m): 6:22pm On Apr 16, 2015 |
If you don't have collateral why not try out the other financial institution that you can deposit 20% of the loan to be borrowed as equity to access fund? 2 Likes |
Re: CBN’S N220 Billion MSME Development Fund- How To Access It. by Tmex(m): 6:57pm On Apr 16, 2015 |
Lesgupnigeria:please sir, which of the financial institutions can grant one the loan If 20% is deposited? |
Re: CBN’S N220 Billion MSME Development Fund- How To Access It. by Lesgupnigeria(m): 9:13am On Apr 17, 2015 |
Tmex:The way to go about it is to register with a recognised association or as farmer,then visit BOA to apply for loan Only 20% equity will be deposited in the bank 2 Likes 1 Share |
Re: CBN’S N220 Billion MSME Development Fund- How To Access It. by Tmex(m): 11:28am On Apr 17, 2015 |
Lesgupnigeria:thanks |
Re: CBN’S N220 Billion MSME Development Fund- How To Access It. by flobo: 3:16pm On Apr 17, 2015 |
I prepare business plans contact me on the following e-mail address with the subject line request for business plan E-mail is folabo80@yahoo.com 3 Likes |
Re: CBN’S N220 Billion MSME Development Fund- How To Access It. by Lesgupnigeria(m): 8:37pm On Apr 17, 2015 |
Tmex:You are welcome. |
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