One of the ways for a business owner to quickly achieve their entrepreneurial goals is to get access to a soft or an interest-free loan, but most of the financial institutions around the world make a profit from interest on a credit facility. However, some financial institutions in Nigeria are gradually embracing Islamic tenets of … Read more
The cost of registering a company in Nigeria is between N50k-N60k (for a limited liability company between N50k-N1million Share Capital). Part B, sections 18 to 54 of the Company and Allied Matters Act 2020 extensively outlines the key requirements for the formation and registration of companies in Nigeria and the roles of parties involved play. … Read more
To many Nigerians, the Government Enterprise & Empowerment Programme (GEEP) was active before the 2019 general elections, not knowing that a lot of credit facilities are still going on across the country. You just have to connect with the right information. Another batch of the programme, according to the information we received from the National … Read more
One of the biggest credit facilities supported by the Central Bank of Nigeria is Agric-Business Small and Medium Enterprises Investment Scheme (AGSMEIS). It isn’t just designed to make Nigeria self-sufficient in what we consume, but also to reduce the rate of unemployment across the country. As an applicant, you must either have an existing agri-business … Read more
It is not a good time for some applicants of the CBN-backed covid-19 as they continue to receive unauthorised debit alerts from Nirsal Microfinance Bank (NMFB). Please I need help I applied for Nirsal covid-19 loan they credited me and debited me at once leaving 1,946 on the account I don’t understand please reply me … Read more
We’ve said severally how difficult it is for small business owners to access financing, but getting the right information to know the right credit facility for SMEs is also very important. Do you know that even when the loans are available, the eligibility requirements and the interest rates by the commercial banks are not always … Read more
Nirsal Micro Finance Bank (NMFB), a CBN-dedicated bank for disbursement of government loans, has assured small business owners and individuals who accepted the loan offer of the government would receive a credit alert. The bank made the assurance on its Facebook page while reacting to the delay in the disbursement of loan applications and assured … Read more
Micro, Small, and Medium Enterprises (MSMEs) can never forget the economic effect of the covid-19 pandemic on their businesses. But the business policies of Nigeria’s apex bank are most likely to put smiles on the faces of such business owners going by the latest 27-page guidelines handed down by the Central Bank of Nigeria (CBN) … Read more
It’s exciting to know that financial institutions in Nigeria are deepening their interest in supporting micro-traders through soft loans. The latest on the list credit facility available for small business owners is ‘I Go Trade’ which was launched by Sterling Bank, where SMEs and artisans can access up to N300, 000 It is a new … Read more
Who received the N75Bn CBN loan? That is one of the questions on the lips of millions of Small and Medium Enterprises (SMEs) who applied but were not selected for the National Youth Investment Fund (NYIF) loan. The NYIF loan is an initiative of the Federal Ministry of Youth and Sports in collaboration with the Central … Read more
Access Bank recently says it has over 70,000 as agents spread across Nigeria, disclosing that its aim is to reach unbanked and under-banked millions of Nigerians in communities and cities. What are the requirements to become Access Closa Agent in your community? Do I need millions of naira to register as POS agent? For Small … Read more
Loan applicants under the Agri-Business Small Medium Enterprises Investment Scheme (AGSMEIS) since the beginning of August 2021, started receiving messages from the Nirsal NIRSAL microfinance bank about the status of the fund applications. What is Loan Decline? Loan decline is a situation whereby a lender feels your application for a credit facility doesn’t meet the required … Read more
By the end of 2021, qualified women entrepreneurs in Nigeria will enjoy $50 million credit facility from the First City Monument Bank (FCMB) courtesy African Development Bank (AfDB). Founded in April 1982, The Nigerian bank is popular for its SheVentures, one of the special loans specifically designed for women entrepreneurs in Nigeria, loans for women can … Read more
Since the application for COVID-19 Targeted Credit Facility began, a lot of applicants who got loan offers have had to face the challenge of receiving their funds in their designated bank account. if you operate a tier 1 account, you won’t be able to receive funds beyond that limit. If your bank account can only … Read more
There are hundreds of Nigerians who have nice business ideas but are being impeded by a lack of access to financial support. And one of the coolest and cheapest ways to get capital for your business is to have access to grants or low-interest rate financing. A business-minded undergraduate student can also explore the platforms … Read more