Here is how you can apply for the Central Bank of Nigeria (CBN) Micro, Small and Medium Enterprises Development Fund (MSMEDF): on this page we will provide you with more information about Micro, Small and Medium Enterprises Development Fund (MSMEDF) and how you can apply for the loan through the CBN guideline. ( Note that application is totally free).
As part of its developmental role and mandate of promoting a sound financial system, the Central Bank of Nigeria (CBN) launched the Micro, Small and Medium Enterprises Development Fund (MSMEDF) on August 15, 2013. This was in recognition of the significant contributions of the Micro, Small and Medium Enterprises (MSME) sub-sector
to the economy.
Objective
The broad objective of the Fund is to channel low return funds to the MSME sub-sector of the Nigerian economy through Participating Financial Institutions (PFIs) enhance access by MSMEs to financial services;
1. Increase productivity and output of microenterprises;
2. Create jobs; and
3. Engender inclusive growth.
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Eligible Enterprises
In line with the provisions of the Revised Microfinance Policy, Regulatory and Supervisory Framework for Nigeria, enterprises to be funded under the Scheme shall be:
a) Micro Enterprises
b) Small and Medium Enterprises (SMEs)
The following are eligible activities under the Fund:
Micro Enterprises
● Agricultural value chain
● Cottage Industries
● Artisans
● Services
● Renewable energy/energy efficient product and technologies
● Trade and general commerce
● Other economic activities as may be prescribed by the CBN
Note:
● Only 10% of the Commercial component of the Fund shall be channeled
to trade and general commerce.
● Nigerian Agricultural Insurance Corporation (NAIC) Insurance is compulsory
for primary agricultural production
Small & Medium Enterprises (SMEs)
● Manufacturing
● Agricultural value chain activities
● Services