How To Apply For CBN Creative Industry Loan 2024/2025 ( 3M To 500M)

How To Apply For CBN Creative Industry Loan 2024/2025 ( 3M To 500M)

How To Apply For CBN Creative Industry Loan 2024/2025 ( 3M To 500M): The CBN Creative Industry Loan is aimed at providing financial support in form of soft loans to Creative industries that are insolvent and bankrupt, the loan will serve as a drive for measuring the key economic indicators in the long run

Emerging Facts About the CBN Creative Industry Loan 2024

CBN will disburse the loans at a 9% interest rate

The repayment period is within 3 to 10 years

Eligibility requirements are tied to Nigerian banks to creative businesses

Eligibility for CBN Creative Industry Loan 2024

To qualify for the CIFI loan, applicants should operate businesses in any of these areas: Fashion,

Information Technology

Movie Production

Movie Distribution

 Music distribution.

Note-Loans are available for Software Engineering students as well.

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Businesses must be duly registered with the Corporate Affairs Commission, possess a valid Bank Verification Number BVN, and prepare a comprehensive business plan.

It is accurately observed that funds like the loan is not readily available for this creative-oriented category of individuals.

Financing your business as a creative individual is not really encouraging because financial institutions rarely give loans to them but prefer to give loans to develop organizations or steady income receiving individuals.

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Amount of Loan you can Access for Business

You can get a loan of up to:

N3 million for Software Engineering Student

N30 million for Movie Production business

N500 million for Movie Distribution business

How to apply for CBN Creative Industry Loan 2021

The only way to apply for CBN Creative Loan is through your local bank.

Walk up to your designated bank and request that you want to apply for CBN Creative Industry Loan.

Your bank will discuss your request and plan for your loan disbursement.

Period for the repayment of the loan

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For Software Engineering Student Loan, it is a maximum of three years

For Movie Production and Distribution, it is a maximum of ten years

For Fashion, Information Technology (IT) and Music, it is a maximum of ten years

visit for interesting information: www.cbn.gov.ng