SmartPreneur
Advertisement
  • Home
  • Trending News
  • Brand Insights
  • Profiles
  • Hustle Life
  • Weekend Teaser
  • Radio
  • TV
  • Games & Quizzes
No Result
View All Result
  • Home
  • Trending News
  • Brand Insights
  • Profiles
  • Hustle Life
  • Weekend Teaser
  • Radio
  • TV
  • Games & Quizzes
No Result
View All Result
SmartPreneur
No Result
View All Result
Home SME

100 for 100 Policy: Required Documents And How To Apply

Blessing Osazuwa by Blessing Osazuwa
February 7, 2022
in SME
0
100 for 100 Policy: Required Documents And How To Apply
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on Whatsapp

The Central Bank of Nigeria (CBN) on November 1, 2021, started the 100 for 100 Policy on Production and Productivity (PPP). The initiative is to select 100 private sector companies with projects that have the potential to significantly boost local productivity and the foreign exchange generating capacity of Nigeria.

Join our communityJoin our communityJoin our community

The loan limit under the initiative is N5 billion, while applications above N5 billion may be considered subject to the approval of CBN. Term loans must have a maximum tenor of 10 years, depending on the project’s complexity, and must be paid off by December 31, 2031.

Nigerian entrepreneurs can apply to get funding if their businesses align with the CBN’s objective to stimulate the economy. The various types of businesses the initiative covers are manufacturing, agribusiness and agro-processing, extractive industries, petro-chemicals and renewables, healthcare and pharmaceuticals, logistics services and trade-related infrastructure.

Required Documents 

  • Evidence of company incorporation with Corporate Affairs Commission (CAC)
  • Three years of audited financial reports.
  • Evidence of the company’s creditworthiness, including its promoters and directors.
  • A minimum of two credit reports of the company and directors.
  • Business plan of the underlying project in need of financing.
  • Detailed status report on project’s capacity utilization, production output, productivity/efficiency level, employment level, value creation.
  • Detailed report on the post-financing economic benefit of the project.
  • Applicants shall notify CBN of submitted applications via a dedicated online portal https://100for100ppp.ng/ for tracking and monitoring application status.

Apply here: https://100for100ppp.ng/submit-applicatio

To get your loan

  • Participating financial institutions (PFIs) shall receive applications and conduct due diligence on applications based on business and credit considerations.
  • Upon approval by PFI’s credit committee, the lending bank shall forward eligible private sector companies to CBN.
  • The CBN will screen and finance eligible applicants in 100 days and roll over every 100 days.
  • The Bank will conduct an internal review of applications to ensure compliance with stipulated requirements.
  • Then, the CBN releases the approved sum to PFIs for onward disbursement to selected private sector companies.
  • Beneficiaries would be published in National Dailies for the public to confirm details of activities financed.
Tags: 100 for 100 PolicyCentral Bank of NigeriaCredit facilities 2022Goodwin EmefieleSME loans
Previous Post

Ondo Commences Distribution of Empowerment Grants to Entrepreneurs

Next Post

The 4 People That Entrepreneurs Must Have, If They Want To Succeed

Blessing Osazuwa

Blessing Osazuwa

Blessing does the research to bring you needed information for success.

Related Posts

Mailchimp users will now pay 7.5% more as VAT from April 20, 2023.
Trending News

Mailchimp users will now pay 7.5% more as VAT from April 20, 2023.

by Ruth Okwumbu-Imafidon
March 22, 2023
0

Nigerians using MailChimp will have to pay 7.5% more from April 20, 2023, as the company is set to implement...

Read more
2023 VALUE4HER Women Agripreneurs of the Year Awards: Call for Applications
Trending News

2023 VALUE4HER Women Agripreneurs of the Year Awards: Call for Applications

by Ruth Okwumbu-Imafidon
March 17, 2023
0

The Alliance for a Green Revolution in Africa (AGRA) has launched a call for applications for the 2023 Women Agripreneurs...

Read more
Stop These 5 Common Online Business Mistakes and Achieve Success
SME

Stop These 5 Common Online Business Mistakes and Achieve Success

by Blessing Osazuwa
March 13, 2023
0

Starting an online business can be tough, especially with so much information available online. It's easy to get lost in...

Read more
Celebrating Women's Month: Ways To Appreciate Your Female Customers and Employees
SME

Celebrating Women’s Month: Ways To Appreciate Your Female Customers and Employees

by Blessing Osazuwa
March 8, 2023
0

March marks the celebration of Women's Month, a period to honour the accomplishments of women and their notable impact on...

Read more
4 Essential Tips for Keeping Your Business Safe On Election Day
SME

4 Essential Tips for Keeping Your Business Safe On Election Day

by Blessing Osazuwa
February 23, 2023
0

The Presidential Election in Nigeria is a significant event that can impact businesses of all sizes. On the day of...

Read more
5 Ways Entrepreneurs Can Seize Opportunities As Nigeria's 2023 Presidential Election Approaches
SME

5 Ways Entrepreneurs Can Seize Opportunities As Nigeria’s 2023 Presidential Election Approaches

by Blessing Osazuwa
February 20, 2023
0

The buildup to the Presidential election in Nigeria is a time of heightened political activity and anticipation. Entrepreneurs can find...

Read more
Cracking the Code: How to Win Over Gen Z Consumers
SME

Cracking the Code: How to Win Over Gen Z Consumers

by Blessing Osazuwa
February 1, 2023
0

Generation Z, those born between 1996 and 2012, is an important demographic for businesses to consider as they are becoming...

Read more
Load More
Next Post
The 4 People That Entrepreneurs Must Have, If They Want To Succeed

The 4 People That Entrepreneurs Must Have, If They Want To Succeed

Please login to join discussion

Recent News

Win Free Product Shoot In the #CaptureMyBusiness Challenge

Win Free Product Shoot In the #CaptureMyBusiness Challenge

March 24, 2023
Register now: Smartpreneur Webinar & Panel Discussion comes up on March 31

Register now: Smartpreneur Webinar & Panel Discussion comes up on March 31

March 24, 2023
Mailchimp users will now pay 7.5% more as VAT from April 20, 2023.

Mailchimp users will now pay 7.5% more as VAT from April 20, 2023.

March 22, 2023
The Power of High-Quality Product Photos for Boosting Your Ecommerce Site's Success

High-Quality Photos: The power of visuals in Boosting Your Ecommerce Business

March 22, 2023
SmartPreneur

© 2020 SmartPreneur

Navigate Site

  • Home
  • Trending News
  • Radio
  • Games & Quizzes
  • TV

Follow Us

No Result
View All Result
  • Home
  • Trending News
  • Radio
  • TV
  • Hustle Life
  • Brand Insights
  • Profiles
  • Game & Quizzes
  • Weekend Teaser

© 2020 SmartPreneur