How to benefit from the Creative Industry Financing Initiative
The CBN in collaboration with the Bankers’ Committee as part of efforts to boost job creation in Nigeria, particularly among the youth, has developed a Creative Industry Financing Initiative (CIFI).
How to benefit from the Creative Industry Financing Initiative
The initiative has four pillars, namely:
- Fashion
- Information Technology
- Movie
- Music
Interested applicants in the Creative Industry are hereby advised to submit applications to their banks for approval and disbursement.
How to benefit from the Creative Industry Financing Initiative:
Is your business in any of the following areas?
- Fashion
- Information Technology
- Movie Production
- Movie Distribution
- Music and
- Software Engineering Student Loan
If “Yes”…
- Prepare your business plan or statement on how much you want for your business.
- You can get a loan of up to:
a) N3 million for Software Engineering Student.
b) N30 million for Movie Production business.
c) N500 million for Movie Distribution business.
d) Cover your rental/service fees for Fashion and Information Technology business.
e) Cover your training fees, equipment fees, and rental/service fees for Music business.
Read also: Apply for N10 million CBN AGSMEIS 5% Loan Today.
How to Access the Fund
- Go to any bank of your choice to access the fund.
- Tell your bank how much you need.
- Your bank will discuss your request and provide you the money.
- The maximum interest rate of 9.0% per annum (all charges inclusive) is applicable to all loans.
Period for the repayment of the loan:
a) For Software Engineering Student Loan, it is a maximum of three years.
b) For Movie Production and Distribution, it is a maximum of ten years.
c) For Fashion, Information Technology (IT) and Music, it is a maximum of ten years.
You can contact us NOW via 08105636015 or 08076359735 or send a mail to dayohub@gmail.com to get professional help with the application.
For more information, please visit: CBN webpage
