CBN Industry Loan: CBN Creative Industry Financing Initiative Loan Scheme-Apply

CBN Industry CBN Creative Industry Financing Initiative Loan Scheme

 The Creative Industry Financing Initiative (CIFI):

  • Is a loan scheme developed in collaboration with the Central Bank of Nigeria (CBN)
  • It provides access to long term and low-interest financing for entrepreneurs
  • It assists creative industry such as Fashion, Music, Movies, Gaming, Information Technology, and others
  • Interns are mentored and taken through an incubation process leading to a tech venture or solution that will be taken to market.
  • Ventures will also be seed-funded through another CBN loan, under the AGSMEIS program.

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Duration Of The Internship

The internship period is broken down into three parts

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Training (6 months)

Mentorship and Ideation (3 months

Incubation, Development and Go to Market – 2 years.

Frequently Asked Questions And Answers on CBN Industry CBN Creative Industry Financing Initiative Loan Scheme

When do I have to pay the loan back?

The loan repayment will commence after you have completed your internship program and this can be in one of two ways.

Start a venture which would be funded by AGSMEIS and your loan will be

repaid from your funding.

You would be placed on projects internally or externally where you will earn income and repayment would be deducted from your income.

Is it compulsory to take employment offer by Envivo?

No

Can I still work and take on the internship?

It’s an intensive program but you can work part time as long as you can still commit at least 6 hours of your day to the program.

Is the Internship program offline and online?

The internship program not offline at all. It’s online but it’s a combination of self-paced and live virtual classroom.

Do we get paid during the internship?

Yes. Interns will receive a stipend of N30,000 monthly for the first 9 months.

Why do I need to submit my certificate?

Certificates submitted will serve as a collateral to the bank (CBN) for the loan collected to cover the internship program- this is why original documents are required.

What happens if the need arises for personal use of my certificate?

If such a situation occurs where intern needs certificates for a short term after he/she has been documented, Envivo will make the document available with an understanding in place.

Can I withdraw from the Internship?

If an intern decides to withdraw from the programme prior to disbursement of the loan but after registration, they must follow the following steps

Payment of N20,000.00k Administration Fee

Refund all allowances collected to date of withdrawal

Pay for any registered courses

Payment for device (laptop or Note)

If the intern decides to withdraw after loan disbursement then they must repay the loan fully prior to withdrawal and collection of original documents

Loan Amount:

N1, 350,000 (One Million, Three Hundred and Fifty Thousand Naira only)

How Apply-send mail to [email protected], with Link to Apply as subject, we will send you link to apply

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