FGN Special Intervention Fund for MSMEs (National Enterprise Development Programme)
We will be guiding you on how to successfully apply for the FGN Special Intervention Fund for MSMEs.
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.
Qualifications and Requirements FGN Special Intervention Fund for MSMEs
The Fund can be assessed by duly registered Limited Liability Companies, Enterprises and Cooperatives in Nigeria.
Applications are received and processed at Bank of Industry, BOI State Offices only.
The fund is to be utilized for SMEs engaged in manufacturing and agro-processing businesses with emphasis on value addition to local raw materials.
Program Limit of FGN Special Intervention Fund for MSMEs
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.
How long will it take before to repay the FGN Special Intervention Fund Loan?
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.
How to Apply for FGN Special Intervention Fund for MSMEs (National Enterprise Development Programme)
All interested and qualified persons should click on https://www.boi.ng/boi-products/fgn-special-intervention-fund-for-msme/
For more information click here
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