Most times, people apply for a loan and ask for the date of repayment without understudying the interest rate.
It is very very important to know how to calculate loan interest: 1) to know if it worth it, 2) if the loan would return more profit on investment to cater for the interest rate.
The Federal Government’s Survival Fund is truly the first fairest funding and grants ever in the history of Nigeria.
After meeting all other requirements of the survival fund payroll, employers (CEO) and employees will have to answer some questions before their accounts are credited by the Central Bank.
I applied for the SME loan on NIRSAL Micro Finance Bank (NMFB) portal in 2020, a few weeks after, all I needed was to head back to the portal to check if my application was successful.
Unfortunately, hundreds of the CBN COVID-19 loan applicants don’t know that applying isn’t enough, but constant check on the status of your loan is very important. So that you don’t miss out!
Another funding is here for farmers. If you haven’t heard about it, it’s called Smallholder Economic Interest Farmers Agricultural Cooperative or SEIFAC.
SEIFAC is one of the Anchor Borrowers Programme (ABP) rolled out by the Central Bank of Nigeria in a bid to support local farmers with funds so as to boost local production of what we consume.
We all need money to meet certain financial obligations. Loans come in handy when there is no alternative.
In this post, we’ll share with you types of loans offered by Nigerians banks which are accessible to everyone who can abide by their terms and conditions.
We received an email a few hours ago from one of the subscribers expressing his concern over one of the government loans he applied for. He was unlucky.
He was more worried because some of his colleagues he assisted in the loan application were successful.
I applied for one of the available COVID-19 loans of the Central Bank of Nigeria sometimes in 2020. To my surprise, my Nirsal Microfinance Bank (NMFB) account was credited.
It was elated because it would help me to expand my business. But never did I know I would face other rounds of the hurdle. But I later figured it out.
Do you know that there are several SMEs loans funded by the Central Bank of Nigeria (CBN) you can apply for to boost your business?
We’ve got the full list here for you to pick the most suitable for your business and delve into how you can access them in our subsequent guideline.
You’ve heard about CBN’s CIFI loan and wondering how to access it? We’ve compiled here the Nigerians banks where you can easily submit your application to access the loan.
It is an on-lending scheme designed by Nigeria’s apex bank in collaboration with the Bankers’ Committee. It’s designed to boost job creation in Nigeria. It’s among the six loans funded by the CBN.
In the course of your application for the Agric-Business Small and Medium Enterprises Investment Scheme (AGSMEIS) loan, you may have come across this disturbing message that may hinder you from proceeding with your application:
The announcement by Nigeria’s apex bank in 2020 that stimulus package would be given to Nigerians who were affected by the impact of COVID-19 pandemic made NIRSAL Microfinance bank popular among Nigerians
There are lots of loan opportunities in Nigeria if you can get the right information and know-how to place things in the right place earlier as you can. One of such is SMEDAN registration number.
Getting access to loan requires you to meet some requirements. You don’t really need collateral most especially when it’s an unsecured loan.
It’s a hard time, most especially for the average people around the World. The trying moment has forced millions of people around the world to seek soft loans to augment the situation.
Unfortunately, this is also the time you could lose the little you have while trying to get a credit facility.l
There have been worries over how beneficiaries of the NIRSAL loan can repay. Some of them say all efforts to repay the loan proved abortive.
First thing you need to pay attention to when taking a loan is the maturity date that is the due date for payment.
Almost everyone starting a new business venture needs money to commence. In Nigeria, one of the coolest and cheapest ways to get capital for your business is to apply for small business grants.
Unlike business loans, grants don’t have to be refunded, so there’s no worry over term length, interest rates, APR, or refinancing. You just have to qualify, and boom—you are good to go!
Do you know that there are up to six loans under the CBN intervention fund for SME Businesses and Agriculture?
To apply for any of the loans, you need training certificate from CBN accredited Entrepreneurship Development Centres or Institute. One of such is Agric-Business Small and Medium Enterprises Investment Scheme, also known as AGSMEIS loan.
Apart from the N50 million research activities, you can as well get another N500 million grant for the development and manufacturing of drugs under the Healthcare Sector Research and Development Intervention Scheme (HSRDIS).
The Federal Executive Council on July 22, 2020, approved the sum of N75, 000,000,000.00 (N75Billion) for the establishment of the Nigeria Youth Investment Fund.
NYIF Loan Interest Rate: 5%
The NYIF is for the period of 2020 – 2023 dedicated to investing in the innovative ideas, skills and talents of Nigerian Youth.
For small scale entrepreneur to access any of the loans supported by the Central Bank (CBN), he must have undergone specific training at Entrepreneurship Development Centres or EDC which are certified by the apex bank.
Here is a privilege to apply for BOA-SMEDAN matching fund programme and we’ll outline all the things you need to put in place before submitting your application for this loan to stand a chance of getting up to N5, 000, 000 to boost your business.
