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How To Access CBN’s N220 Billion Micro, Small and Medium Enterprises Development Fund (MSMEDF)

  • Dayo Adetiloye Business Hub

N220 Billion Micro, Small and Medium Enterprises Development Fund 1

How To Access CBN’s N220 Billion Micro, Small and Medium Enterprises Development Fund (MSMEDF)

N220 Billion Micro, Small and Medium Enterprises Development Fund

Finally, the Central Bank of Nigeria has published the procedure for accessing the fund.

The details are here:

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)

Read Also: How-to-Apply-for-Covid-19-N50bn-cbn-loan-for-Small-Businesses-and-Individual-Household-in-Nigeria

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

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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 or call:
msmedf@cbn.gov.ng
09-46238600, 09-46238608 or 07080650000 or 07080651392

 Source: enterprise54.com

 

Note: We at Dayoadetiloye.com only write business plans and you need to go to your bank for any loan applications. Thanks.

If you want update on Grants / Loan / Business opportunities, drop your email below.

 

Read Also: Apply-for-N10-Million-CBN-AGSMEIS-Loan-Today

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Dayo Adetiloye Business Hub is a grassroot business development service provider with a 6 year of track record of excellent service delivery for local and international clients.

As a leading business development service provider in Nigeria, Dayo Adetiloye Business Hub has been recognized and certified by Small and Medium Enterprise Development Agency of Nigeria (SMEDAN) in Conjunction with Enterprise Development Centre (EDC), Pan-Atlantic University (PAU) of the Lagos Business School (LBS).

Our solutions are designed for MSMEs and are supported by deep insight into various industries and extensive experience acquired from over the years by supporting our clients as partners in their business transformation.

Through our services and business activities, we help individuals/entrepreneurs transform their business ideas into a business venture, and support existing business to scale or expand their operation. We also connect startups and MSMEs with opportunities and resources for their business growth.

We have Consulted for more than 5000 MSMEs in the last 6 years in various industry including Agro-processing, Consulting, Training and Education, Financial Services, Waste Management, Renewable Energy, Oil and Gas, Construction, Real Estate, FMCG, Digital Marketing, Personal Branding etc.

Our Vision:
To become the leading grassroot business Hub that provides Business
Development Services in the global online community

Mission Statement:
– Provide bespoke management and business planning consultancy
– To connect MSMEs with opportunities and resources for their business startup, growth and expansion through trainings, seminars, coaching, consulting, mentoring, and Angel investing.
– To inspire, empower and champion entrepreneurship in the global online community.

Business Goals and Objective

– Engender national prosperity by contributing to the creation of at least 100 new businesses every year
– Become a go-to brand for outstanding business development services for MSMEs
– Strategic partnership with local and international organization to empower start-ups
– Continuous innovation to serve our clients better

Core Values:
Integrity
Opportunity Maximization
Digitalization
Personal Development (Capacity Building)
Excellent Customer Satisfaction
Timeliness

Share this:

Enter your name and email and Download our FREE eBook, get the weekly newsletter, Update on Grants, Business Opportunities & Premium Services from DayoAdetiloye.com... Joining is FREE!

Dayo Adetiloye Logo

Author

Dayo Adetiloye Logo

Lets connect

Facebook Twitter Youtube

Dayo Adetiloye Business Hub is a grassroot business development service provider with a 6 year of track record of excellent service delivery for local and international clients.

As a leading business development service provider in Nigeria, Dayo Adetiloye Business Hub has been recognized and certified by Small and Medium Enterprise Development Agency of Nigeria (SMEDAN) in Conjunction with Enterprise Development Centre (EDC), Pan-Atlantic University (PAU) of the Lagos Business School (LBS).

Our solutions are designed for MSMEs and are supported by deep insight into various industries and extensive experience acquired from over the years by supporting our clients as partners in their business transformation.

Through our services and business activities, we help individuals/entrepreneurs transform their business ideas into a business venture, and support existing business to scale or expand their operation. We also connect startups and MSMEs with opportunities and resources for their business growth.

We have Consulted for more than 5000 MSMEs in the last 6 years in various industry including Agro-processing, Consulting, Training and Education, Financial Services, Waste Management, Renewable Energy, Oil and Gas, Construction, Real Estate, FMCG, Digital Marketing, Personal Branding etc.

Our Vision:
To become the leading grassroot business Hub that provides Business
Development Services in the global online community

Mission Statement:
– Provide bespoke management and business planning consultancy
– To connect MSMEs with opportunities and resources for their business startup, growth and expansion through trainings, seminars, coaching, consulting, mentoring, and Angel investing.
– To inspire, empower and champion entrepreneurship in the global online community.

Business Goals and Objective

– Engender national prosperity by contributing to the creation of at least 100 new businesses every year
– Become a go-to brand for outstanding business development services for MSMEs
– Strategic partnership with local and international organization to empower start-ups
– Continuous innovation to serve our clients better

Core Values:
Integrity
Opportunity Maximization
Digitalization
Personal Development (Capacity Building)
Excellent Customer Satisfaction
Timeliness

Share this:

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23 Responses

  1. Dorcas Kundam says:
    October 14, 2015 at 4:27 pm

    Like what U are doing. More grace

    Reply
  2. ben says:
    October 26, 2015 at 1:09 pm

    nice insight

    Reply
    1. Enobong says:
      April 24, 2020 at 11:34 pm

      Derr sir my name is Enobong William usen I want to apply for a loan for my small scale business how do I go about it thanks you

      Reply
  3. Florence frank says:
    December 2, 2016 at 10:14 pm

    this scheme sounds interesting and encouraging. wish to know more and know how to go about it. thanks

    Reply
    1. Dayo Adetiloye says:
      December 3, 2016 at 4:19 pm

      Ok. Call me on 08060779290

      Reply
  4. Olaleye George says:
    May 25, 2019 at 2:18 pm

    My name is George Olaleye, please update me on Grant for 2019. Thanks my email is olaleyegeorge@gmail.com. Thank You

    Reply
  5. Abiom Beulah says:
    July 7, 2019 at 5:10 am

    My name is Aboim Oluchi Beulah, please update me on Grant

    Reply
  6. Essien Timothy says:
    July 10, 2019 at 5:38 pm

    Essien Timothy please update me for more information about the grant

    Reply
  7. Godwin says:
    July 16, 2019 at 9:34 pm

    Pls I’m a startup going into business development and savings solution in terms of (cooperative) . I need advice and guidance. I currently need an expansion loan. I need help. I have got a good marketing plan.

    Reply
  8. Olaleye George says:
    July 17, 2019 at 2:01 pm

    My name is Olaleye George, Please I need a loan to start my new computer business/ ICT Service. Thank You

    Reply
  9. Sixtus says:
    September 19, 2019 at 6:35 pm

    Our banks are not encouraging us because I had made attempt but they didn’t answer me

    Reply
  10. Pingback: HOW TO SETUP A MICROFINANCE BANK - Youth Entrepreneurship
  11. Sonia says:
    November 11, 2019 at 9:39 pm

    How can I apply for d loan

    Reply
  12. Olubunmi Ashiru says:
    November 25, 2019 at 3:25 pm

    Please kindly update me on grant 2019.thank you very much
    My email address is lubunmi5@gmail.com

    Reply
  13. Ode Godwin says:
    January 9, 2020 at 5:35 am

    Plz kindly update me of grant/agto loan 2020.
    My mail address is ohahabest@gmail.com.
    Thanks

    Reply
  14. Ubong says:
    January 21, 2020 at 4:53 pm

    I like this hope it’s easy to access as seen here

    Reply
  15. Alimi says:
    February 10, 2020 at 7:18 pm

    Pls,I need grant or loan to finance my agro fish processing business

    Reply
  16. Chioma Ngene says:
    March 5, 2020 at 9:39 pm

    Thanks so much

    Reply
  17. Solomon Fasanya says:
    April 16, 2020 at 7:55 am

    Hello Mr Ayoadetiloye I appriciate you opening the eye of the youth on how get loan,but I want you to tell us were are we missing it or it is the banks that are not sincer ,they tell us come we give you loan without collateral getting there what they ask is collateral,you can see most comments eg that of Sustus and some. Please we have innovation we need loan the vision rout away in us.I am Fasanya S.B.

    Reply
    1. Dayo Adetiloye says:
      April 16, 2020 at 2:25 pm

      Apply for this Covid-19 loan: How-to-Apply-for-Covid-19-N50bn-cbn-loan-for-Small-Businesses-and-Individual-Household-in-Nigeria

      Reply
  18. Kefas Azenu says:
    July 15, 2020 at 12:54 pm

    How cN I access the Loan facility

    Reply
  19. Uduak Daniel Akpan says:
    August 20, 2020 at 1:38 pm

    Please how do I apply for this loan I seriously need money for my business

    Reply
  20. Nwachukwu Raymond Jude says:
    August 30, 2021 at 7:05 am

    Please update me on any loan/grant for SME businesses.

    Reply

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