How to apply for CBN’s N5 billion ‘100 for 100 PPP loan’ » Voice of Nigeria
How to apply
Interested private-sector enterprises must submit applications to their PFIs together with the necessary documentation, which includes, among other things,
- Financial statements.
- Certified true copies of company registration documents evidencing the incorporation of the Company with the Corporate Affairs Commission (CAC)
- Three (3) years of audited financials, including the most recent management account of the company
- Evidence of the company’s, promoters’, and directors’ creditworthiness
- At least two (2) credit reports of the company and the directors;
- Business plan of the underlying project for which the facility is to be applied
- Detailed status report on project’s capacity utilisation, production output, productivity/efficiency level, employment level, export capacity, and value creation
- Increased capacity utilisation, production output, productivity/efficiency level, employment level, export capability, and value creation after funding should be projected to represent the project’s post-financing economic benefits.
Applicants shall notify the CBN of submitted applications via a dedicated online portal (https://100for100ppp.ng)
Here is the process your application would take before approval
Once the lending bank receives your applications, due diligence on them based on business and credit would be conducted.
After which, the lending bank would forward the applications of their eligible private sector companies to the CBN for approval by the appropriate PFI’s Credit Committee.
The CBN would screen and finance eligible private sector companies in 100 days, and rollover every 100 days.
The CBN shall release the approved sum to the PFI for onward disbursement to the selected private sector companies and 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.
