Have you heard about the FGN Special Intervention Fund for MSMEs (National Enterprise Development Programme)?
The Fund is a Federal Government of Nigeria initiative to provide subsidized loans to Micro, Small and Medium Enterprises (MSME) at single digit (9% per annum) all inclusive interest rate. The Fund is also to cater for applications received from SMEDAN under the National Enterprise Development Programme (NEDEP) Scheme.
The Fund can be assessed by duly registered Limited Liability Companies, Enterprises and Cooperatives in Nigeria.
Applications are received and processed at BOI State Offices.
Apply Now:
The fund is to be utilized for SMEs engaged in manufacturing and agro-processing businesses with emphasis on value addition to local raw materials.
The program limit for this fund is Five Billion Naira only (N5 Billion). This means that as soon as the Bank of Industries has given out loan of that amount to Nigerians the portal for application will be closed.
You can get from 500,000 Naira to 20 Million Naira. As long as you meet the requirements you can apply for any amount you need for your business. Please note that this is not a grant, it is a loan, meaning you are expected to pay it back at the recorded time.
Note- The loan will be disbursed in phases in accordance with agreed milestones.
The time you are to pay back the loan will be determined by your company’s / business cashflow in line with Bank of Industries (BOI) standard practice. Moratorium is 6-12 months.
If you have all it takes, you can apply for the FGN Special Intervention Fund by clicking on the link below
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We hope this article helped you successfully apply for FGN Special Intervention Fund 2021.
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