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CBN N5 Billion 100 for 100 PPP Loan / How to apply

If you want to apply for CBN N5 Billion ‘100 for 100 PPP Loan’ and you do not know which documents will be required to apply, then you can review our article in which it has been told that ‘How to apply for CBN N5 Billion 100 for 100 PPP Loan‘ and what are the requirements for it.

 

The Central Bank of Nigeria is providing loans to private sector enterprises. If you want to take this loan then you can apply for this loan by fulfilling some important requirements.

 

Policy on Production & Productivity (PPP) Loan

 

Through 100 projects for every 100 Days

 

The initiative is designed to initiate a sustainable financial growth trajectory, accelerate structural change, encourage diversification and create a flow of money and investment for enterprises with the potential to increase productivity. It helps private-sector corporations reduce stagnant imports, increase non-oil exports and increase the FX-productivity of the economy.

 

The purpose of the initiative

The initiative’s main goal is to reverse the country’s over-dependence on imports by creating an ecosystem that targets and supports initiatives with the potential to revitalize and catalyze the productive basis of the economic system. Special purposes include:

 

  • Import substitution catalysts of condensed products;
  • Increase domestic production and productivity;
  • Increase non-oil exports; And
  • To increase the possibility of foreign alternative income of the economic system

 

Key Performance Indicators

Extensive, general observations and key competency indicators (KPIs) of specific benchmarks will generally be conducted under the initiative. KPIs (special and related) will include:

 

  • Increased production output of financed corporations;
  • % Increase in power usage;
  • % Increase in export volume and value;
  • % Reduction in import volume and price of commercial raw materials;
  • Increase in the number of jobs.

 

Activities covered

Focal action will be on existing companies and enterprises (Brownfields) that have the potential to resume and jumpstart the productive foundations of the economic system:

 

  • Production
  • Agriculture and agro-processing
  • Mining industry
  • Petrochemical and renewable energy
  • Healthcare and Pharmaceuticals
  • Logistics services and trade-related infrastructure
  • A separate arrangement may also be prescribed

 

How to Apply for CBN N5 Billion ‘100 for 100 PPP Loan’

 

Application Process

 

Interested private-sector companies shall submit their applications via their PFIs with requisite documentation which shall include, amongst others:

  1. a) An APPLICATION submitted by the company’s promoters through a PFI seeking to be financed under the initiative
  2. b) Certified true copies of COMPANY REGISTRATION evidencing the incorporation of the Company with the Corporate Affairs Commission (CAC);
  3. c) THREE (3) YEARS AUDITED FINANCIALS including the latest management account of the company;
  4. d) At least TWO (2) CREDIT REPORTS of the company and the directors;
  5. e) Business plan of the underlying project for which the facility is to be applied;
  6. f) Detailed STATUS REPORT ON PROJECT’S capacity utilization, production output, productivity/efficiency level, employment level, export capacity, and value creation; and
  7. g) PROJECTED POST-FINANCING ECONOMIC BENEFIT of the project – increase in capacity utilization, production output, productivity/efficiency level, employment level, export capacity, and value creation after financing.
  8. h) The LENDING BANK TO RECEIVE APPLICATIONS and carry out DUE DILIGENCE based on BUSINESS and CREDIT considerations;
  9. i) Upon approval by the appropriate PFI’s CREDIT COMMITTEE, the lending bank shall forward applications of their eligible private sector companies to the CBN.

 

SUBMIT DOCUMENTS

 

Applicant to notify CBN of the submitted application using this portal for the purpose of tracking and monitoring application status;

  1. a) Submit an executive summary of your application via this portal. Central Bank of Nigeria shall conduct an internal review of the applications received to ensure compliance with the stipulated requirements for participation under the initiative
  2. b) The CBN shall release the approved sum to the PFI for onward disbursement to the selected private sector companies;
  3. c) The successful beneficiaries would be published in National Dailies for Nigerians to verify and confirm with details of facility granted, operating sector, manufacturing activities financed, and PFI
  4. d) The CBN shall screen and finance eligible private sector companies in 100 days, and rollover every 100 days;.
  5. e) Central Bank of Nigeria shall conduct an internal review of the applications received to ensure compliance with the stipulated requirements for participation under the initiative

 

SELECTION CRITERIA

 

PARAMETERS

  • Capacity Utilisation and Scalability
  • The scale of locally sourced raw materials
  • Job Creation and Capacity Building
  • Operating sector potential
  • Impact on key macroeconomic indicators

 

INDICATOR

  • Financial performance (3yrs audited report)
  • Business Viability
  • Project Innovation
  • Creditworthiness of Directors
  • 50% of raw material input sourced locally
  • >80% of jobs created should be for Nigerians
  • Job creation
  • A detailed plan for training the workforce with requisite skills to enhance productivity
  • Alignment with focal business activities
  • Integration into the Global Export Value Chain
  • Contribution to GDP potential
  • Share of the domestic market
  • Foreign exchange earning potential
  • Export value potential

 

GUIDANCE NOTE

 

All fields with an asterisk (*) are compulsory

You must have submitted your application to your bank before filling this form and uploading your application documents.

Prepare an executive summary of your application in PDF form and upload it here.

Get a scanned copy of the acknowledgment letter from your bank where you applied for the loan and upload a PDF version here.

Upload your ID (driver’s license, data page of international passport, etc.). PDF format only & one-pager.

Ensure you enter all the correct information. You can save this application and return back to complete it

After each application a PDF document will be generated here which is your SUBMISSION SLIP, note the ID Number on it.

The status of your application can be tracked through your dashboard

Ensure that your company details are correct – TIN and RC Number

 

Important Links

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