LOAN TERMS:
Lender
LOAN TERMS:
Central Bank of Nigeria
Eligibility
LOAN TERMS:
The Central Bank of Nigeria (CBN) is looking at injecting N100 billion as its intervention in the cotton, textile and garment (CTG) value chain. For companies engaged in Cotton, Textile and Garment Production
Loan Limit
LOAN TERMS:
Maximum Limit: N100b
Interest Rate
LOAN TERMS:
Maximum Interest Rate: 6 – 9% p.a
Moratorium available
Max Tenor
LOAN TERMS:
Maximum Tenor: 5 to 7 years
Security Required
LOAN TERMS:
Minimum Equity Contribution-30% of total project cost plus any of legal mortgage, all assets debentures, personal guarantor
Documents Required
LOAN TERMS:
Apply direct to Bank of Industry
- Business Plan
- Economic benefits
- 3 Years Financial Projections
- 3 years audited accounts for existing companies
- Statement of Affairs for start-ups and companies with less than 3 years of existence
- Copies of duly executed offer documents between the bank and loan applicants
- Certificate of Incorporation. R.C
- Brief on Directors • BVN
- Tax Identification Number (TIN)
- Previous /Current Management Position
- Shareholding structure
- At least 2 Credit Reports for the company and each Director
- Proposed schedule of fund disbursement
- Minimum Equity Contribution-30% of total project cost
Approval Time
LOAN TERMS:
About Four (4) months from the time you submit all the required documentation
Thinking About Repayment Plan?
Calculate the monthly payment and overpayment for the loan