CBN MSMEDF Loan 2020/2021 Application Guide – Apply Without Collateral


CBN MSMEDF Loan 2020/2021 Application Guide – Apply Without Collateral : Have you been searching on how to get the Central Bank of Nigeria (CBN) N220 Billion Micro, Small and Medium Enterprises Development Fund (MSMEDF)? Do you want to apply for CBN MSMEDF Loan? If then, this post is all you need to get vital information as regards to this.

In this article, you will get vital information regarding the CBN MSMEDF Loan 2020/2021 Application Guide and how to apply Without Collateral. The CBN MSMEDF loan is currently accessible.

SEE ALSO: CBN Recruitment 2020/2021 Form Portal – www.cbncpp.org

CBN MSMEDF Loan 2020/2021 Application Guide – Apply Without Collateral.

Currently, the application guidelines on how to access the MSMEDF loan have been published by the Central Bank of Nigeria (CBN) in order to allow interested candidates get their desired fund.

Loading...

This article will show you details on how to go about with the Central Bank of Nigeria Loan application form and other important information.

READ ALSO: IVVN Mentoring Fellowship Programme 2020 for Female Scientists

Types of Businesses Eligible for CBN Loan 2020.

The details on how to apply for the Central Bank of Nigeria, CBN Loan i.e. the MSMEDF Loan application form is as shown below.

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

If yes, Prepare your business plan or statement on how much you want for your business. You can get CBN loan of up to: (a) N500,000.00 for your micro-business; and (b) N50 million for Small & Medium Enterprise (SME).

When Should I Repay Approved CBN Loan?

The Period for the repayment of the CBN MSMEDF loan is;

  • For micro business, it is a maximum of one year
  • For small and medium enterprises, it is a maximum of three years

GENERAL NOTICE: 60% of the Fund is reserved for enterprises owned by women; 2% for persons living with disability and 10% for start-up businesses.

However, in order to be successful to get the CBN loan 2020, you need to Prepare your business plan or statement of your desired amount your business might want. Make these ready and available for your application for the CBN MSMEDF Loan Application Form. Do you know the qualifications involved for applying for CBN Loan form 2020?

Now, let me show you the procedures involved.

How to Apply for CBN MSMEDF Loan 2020/2021  Without Collateral.

1. Visit 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.

2. Tell your bank how much you need.

3. Your bank will discuss your request and provide you the money.

Please Note: The maximum interest rate of 9.0% p.a (charges inclusive) is applicable to all CBN loans.

Important Information to Note:

  • There have been reports of bank branches claiming ignorance of the fund. In that eventuality or for more information, please send e-mail: [email protected] OR call 09-46238600, 09-46238608 or 07080650000 or 07080651392.
  • Micro businesses are expected to repay approved loans at a maximum of one year while small and medium enterprises should repay back at a maximum of three years.
  • Remember, you can get the CBN loan at your current bank or the aforementioned if necessary.
  • You must have a business plan or statement on how much you want for your business before the CBN Loan can be approved to you.

Keep sharing this article to your friends, family members, social groups, WhatsApp or any where you can recommend it to your colleagues.

At this point, we advise that you make use of the comment section below to inform us if you have any question or information regarding the CBN Loan Application Form 2020.

If you have any challenge, comment below and we will attend to your questions.



Loading...

Join the Conversation

  1. I’m settle in village (hamlet) is their any way I can apply the MSMEDF online without visit my bank for some process?

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Related Articles

Npower 400000 Batch C Criteria for Selection of Beneficiaries

Npower 400000 Batch C Criteria for Selection of Beneficiaries: Wondering How N-Power will select 400,000 Batch C beneficiaries? Do you want to be aware...

NYSC Announces Physical Verification of Graduates Date & Venue

NYSC Announces Physical Verification of Graduates Date & Venue: The National Youth Service Corps (NYSC) has announced the time frame for the physical verification...

BREAKING: Ibrahim Magu Removed as EFCC Chairman

BREAKING: Ibrahim Magu Removed as EFCC Chairman: The acting chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, has reportedly been suspended...

Akanu Ibiam Federal Poly Postgraduate Diploma Form 2020/2021

Akanu Ibiam Federal Poly Postgraduate Diploma Form 2020/2021: Akanu Ibiam Federal Polytechnic, Unwana is now selling forms for admission into its Postgraduate Diploma (PGD)...

Akanu Ibiam Federal Poly HND Admission Form 2020/2021

Akanu Ibiam Federal Poly HND Admission Form 2020/2021: Akanu Ibiam Federal Polytechnic, Unwana is now selling application forms for admission into its full-time and...

Edo State Polytechnic HND Admission Form 2020/2021

Edo State Polytechnic HND Admission Form 2020/2021: The sale of forms for admission into the HND full-time and part-time programmes of the Edo State...

Get in Touch

440FansLike
174FollowersFollow
274FollowersFollow
114FollowersFollow

Latest Posts

Npower 400000 Batch C Criteria for Selection of Beneficiaries

Npower 400000 Batch C Criteria for Selection of Beneficiaries: Wondering How N-Power will select 400,000 Batch C beneficiaries? Do you want to be aware...

NYSC Announces Physical Verification of Graduates Date & Venue

NYSC Announces Physical Verification of Graduates Date & Venue: The National Youth Service Corps (NYSC) has announced the time frame for the physical verification...

BREAKING: Ibrahim Magu Removed as EFCC Chairman

BREAKING: Ibrahim Magu Removed as EFCC Chairman: The acting chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, has reportedly been suspended...

Akanu Ibiam Federal Poly Postgraduate Diploma Form 2020/2021

Akanu Ibiam Federal Poly Postgraduate Diploma Form 2020/2021: Akanu Ibiam Federal Polytechnic, Unwana is now selling forms for admission into its Postgraduate Diploma (PGD)...

Akanu Ibiam Federal Poly HND Admission Form 2020/2021

Akanu Ibiam Federal Poly HND Admission Form 2020/2021: Akanu Ibiam Federal Polytechnic, Unwana is now selling application forms for admission into its full-time and...

What's Trending

NDA Application Form 2020/2021 – 72nd Regular Course Admission

NDA Application Form 2020/2021 - 72nd Regular Course Admission : Applications are invited from suitably qualified candidates for admission into the Nigerian Defence Academy...

Npower Registration Portal 2020 – https://npower.fmhds.gov.ng/signup

Npower Registration Portal 2020 – https://npower.fmhds.gov.ng/signup: The 2020 N-Power application portal (https://npower.fmhds.gov.ng/signup) opened for registration at 11.45 pm on June 26th, 2020, to all...

Civil Defence Shortlisted Candidates 2019/2020 Download PDF

Civil Defence Shortlisted Candidates 2019/2020 Download PDF : NSCDC Shortlisted Candidates 2019: Nigeria Security and Civil Defence Corps Recruitment shortlisted candidates is Out you...

JAMB Result 2020 is Out : Check Your UTME Results www.jamb.org.ng

JAMB Result 2020 is Out : Check Your UTME Results www.jamb.org.ng : JAMB Results 2020 Online Checking Steps | www.jamb.org.ng – First of all,...

Download Nigeria Civil Defence List of Shortlisted Candidates 2019

Download Nigeria Civil Defence List of Shortlisted Candidates 2019 : NSCDC Shortlisted Candidates 2019. Download the Nigeria Civil Defence (NSCDC) Recruitment List of Shortlisted...

npower.fmhds.gov.ng Signup- Npower Batch C Registration Portal [LOGIN]

npower.fmhds.gov.ng Signup- Npower Batch C Registration Portal : NPower Recruitment 2020 has began. See requirements, academic qualifications, Npower recruitment application registration form procedures via...

CDFIPB List Of Successful Candidates 2019 Latest News Today (NSCDC)

CDFIPB List Of Successful Candidates 2019 Latest News Today (NSCDC) : The Civil Defence, Fire, Immigration and Prisons Service Board (CDFIPB) is hereby informing...