A new N5 billion loan scheme has been introduced to support the growth of micro, small, and medium enterprises (MSMEs) in Nigeria, with a particular focus on women-owned businesses and enterprises operating in critical sectors such as green energy, education, and healthcare.
Backed by the Federal Government's MSME Fund and facilitated through a financial institution in partnership with the Bank of Industry (BOI), the initiative aims to provide accessible and affordable funding to help small businesses overcome financial barriers and scale sustainably.
Eligible businesses can access up to N5 million in funding at a competitive 9 percent interest rate, with a three-month grace period and a three-year repayment plan. The loan structure is designed to give entrepreneurs breathing room to stabilize before beginning repayments.
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The scheme is tailored to sectors considered vital to Nigeria's development goals, including clean energy, inclusive education, public health, and female-led enterprises.
According to the institution managing the disbursement, the program will deepen financial inclusion and directly empower businesses that drive innovation, employment, and community development.
Entrepreneurs are encouraged to apply by visiting designated branches or the institution's official website. The program is expected to be a catalyst for sustainable business growth and economic resilience, especially for underserved and underfunded segments like women-led MSMEs.
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