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How to Access CBN N5 billion 100 for 100 PPP Loan

Enudi Golden by Enudi Golden
January 11, 2024
in business, Featured, Headline, World News
Reading Time: 3 mins read
100 for 100 Policy
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How to Access CBN N5 billion 100 for 100 PPP Loan

Welcome to GoldenNewsNg, If you are in search of a Federal Government loan to boost your business, then the CBN N5 billion 100 for 100 PPP Loan is your opportunity as we will be walking you through how to easily access the loan, so make sure you read until the end.

 

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The CBN N5 billion 100 for 100 PPP Loan is a new initiative from the Central Bank of Nigeria (CBN) designed to create the flow of finance and investments to enterprises with the potential to kickstart a sustainable economic growth trajectory, accelerate structural transformation, promote diversification, and improve productivity. It is a support to private sector companies with the aim of reducing certain imports, increasing non-oil exports, and improving the FX-generating capacity of the economy.

Objective Of The CBN N5 billion 100 for 100 PPP Loan

The broad objective of the initiative is to reverse the nation’s over-reliance on imports, by creating an ecosystem that targets and supports projects with the potential to transform and catalyze the productive base of the economy. The specific objectives include:
i. catalyze import substitution of targeted commodities;
ii. increase local production and productivity;
iii. increase non-oil exports; and
iv. improve foreign exchange earning capacity of the economy

Loan Type

Long-term loan for the acquisition of plant and machinery and Working Capital

Loan Limit

The loan amount shall be a maximum of N5 billion per obligor. Any amount above N5 billion shall require the special approval of Management.

The Rate Of Interest

Interest Rate under the intervention shall be at not more than 5.0% p.a. (all-inclusive) up to 28th February 2022, thereafter, interest on the facility shall revert to 9% p.a. (all-inclusive) effective from 1st March 2022.

Loan Tenor And Moratorium

  • Term loans shall have a maximum tenor of ten (10) years depending on the complexity of the project, not exceeding 31st December 2031. Each project tenor shall be determined in relation to its cash flow and the life span of the underlying collateral.
  • Moratorium: Term loans shall have two (2) years moratorium.
  • The working capital facility shall have a tenor of one (1) year with provision for roll over for a maximum of three (3) years.
  • The participating financial institution (PFI) shall bear the credit risk.
  • Refinancing of existing facilities allowed under the initiative, subject to Management’s approval.

 

Activities Covered

Focal activities shall be existing businesses and projects (brownfield) with the potential to transform and jumpstart the productive base of the economy such as:
i. Manufacturing
ii. Agriculture and agro-processing
iii. Extractive Industries
iv. Petro-Chemicals and Renewable Energy
v. Healthcare and Pharmaceuticals
vi. Logistics Services and Trade-Related Infrastructure
vii. Any other activities as may be prescribed

All Interested and qualified individuals are to visit https://goldennewsng.com/cbn-release-list-of-beneficiaries-for-100-for-100-ppp-loan-application/ to submit your application

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