This is announcing the CBN Creative Industry Loan. Entrepreneurs in the creative industry can now access up to N500 million Loan to invest in their businesses.
Are you in fashion design?
Do you engage in any business in the information technology space?
Are you in the movie industry?
Do you engage in the production of music?
Then hear this:
Details of the CBN Creative Industry Loan
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). The initiative has four pillars, namely:
ii. Information Technology
Accordingly, 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?
Software Engineering Student Loan
Then, prepare your business plan or statement on how much you want for your business.
Note that 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
e) Cover your training fees, equipment fees, and rental/service fees for Music business
Having prepared the business plan, 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
Please note that 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
b) For Movie Production and Distribution, it is a maximum of ten
c) For Fashion, Information Technology (IT) and Music, it is a
maximum of ten years
For more information, please visit the main website of the CBN Creative Industry Loan