Apply for a BOI FG loan now. Three funds totaling N200 billion have been established by the Federal Government through @TradeInvestNG to assist businesses around Nigeria. They are as follows:
- PCGS stands for Presidential Conditional Grant Scheme.
- The Fund for FGN MSME Intervention
- Fund for the FGN Manufacturing Sector.
What you should understand about every financing source:
Presidential Conditional Grant Program Overview
- N50 billion award program for eligible nano-business owners.
- Applicable to all LGAs in the nation and six council areas in the Federal Capital Territory.
- Requires ownership of a nanobusiness, readiness to hire additional employees, and business name registration.
- Requires documentation of residence, business address, bank account, and personal details.
Note: Repayment is not necessary for beneficiaries.
MSME Intervention Fund for FGN
- N75 billion fund to aid MSMEs in Nigeria.
- Acts as a buffer against high production, marketing, and distribution costs.
- Maximum N1,000,000 per beneficiary.
- Funds were used for working capital and equipment over three years.
- Interest rate: 9% annually.
FGN Manufacturing Sector Fund Overview
- N75 billion fund to offset rising costs of product production, marketing, and distribution.
- Up to N1 billion was awarded to beneficiaries.
- Funds are distributed with one-year working capital and five-year term loans.
- Interest rate of 9% all-inclusive annually.
- Administration is dedicated to MSMEs growth.
- The Bank of Industry manages funds daily.
Read more on The FG N50k Grant is Moving Forward—Submit Your Application
