CBN Cotton, Textile & Garment Fund

CBN Cotton, Textile & Garment Fund

Lender

Central Bank of Nigeria

Eligibility

The Central Bank of Nigeria (CBN) is looking at injecting N100 billion as its intervention in the cotton, textile and garment (CTG) value chain. For companies engaged in Cotton, Textile and Garment Production

Loan Limit

Maximum Limit: N100b

Interest Rate

Maximum Interest Rate: 6 –  9% p.a
Moratorium available

Max Tenor

Maximum Tenor: 5 to 7 years

Security Required

Minimum Equity Contribution-30% of total project cost plus any of legal mortgage, all assets debentures, personal guarantor

Documents Required

Apply direct to Bank of Industry

  • Business Plan
  • Economic benefits
  • 3 Years Financial Projections
  • 3 years audited accounts for existing companies
  • Statement of Affairs for start-ups and companies with less than 3 years of existence
  • Copies of duly executed offer documents between the bank and loan applicants
  • Certificate of Incorporation. R.C
  • Brief on Directors • BVN
  • Tax Identification Number (TIN)
  • Previous /Current Management Position
  • Shareholding structure
  • At least 2 Credit Reports for the company and each Director
  • Proposed schedule of fund disbursement
  • Minimum Equity Contribution-30% of total project cost

Approval Time

About Four (4) months from the time you submit all the required documentation

Thinking About Repayment Plan?

Calculate the monthly payment and overpayment for the loan
10 00010 000 000
160
050
 
 
 

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