Union Bank SMEs Intervention Funds

Union Bank SMEs Intervention Funds
Union Bank SMEs Intervention Funds

Union Bank SMEs Intervention Funds – At Union Bank, you’re poised to enjoy a wide range of intervention funds to finance working capital needs, asset acquisition and business expansion.

Union Bank SMEs Interventions Funds Sectors

. Development Bank of Nigeria (DBN): Open to all businesses

Summary

  • Maximum Tenor: 4 years
  • Maximum scheme limit
    • Working capital: N60M
    • Term Loan: N200M
  • Moratorium available

Required Documents / Union Bank SMEs Intervention Funds

  • Customer’s request letter
  • Company registration
  • Cashflow analysis  
  • Audited financials (if applicable)
  • Valuation report of property to be pledged as collateral
  • Legal mortgage over suitable property to be pledged as collateral

. BOI For Women: Women-owned businesses or any business where the majority of employees are women; in the following sectors

  • Manufacturing
  • Trading in locally produced goods
  • Solar industries
  • Service industries with relevance to the manufacturing sector

Summary

  • Maximum Tenor: 3 years
  • Maximum Limit: N50M
  • Asset acquisition only
  • Moratorium available

Required Documents / Union Bank SMEs Intervention Funds

  • Customer’s request letter
  • Company registration
  • Cashflow analysis  
  • Audited financials (if applicable)
  • Valuation report of property to be pledged as collateral
  • Legal mortgage over suitable property to be pledged as collateral

. CBN MSMEDF: All businesses involved in the Agric value chain, Real sector including manufacturing, mining and petrochemicals and service sectors.


Summary

  • Maximum Tenor: 4 years
  • Maximum Limit: N50M
  • Interest rate: 9%

Required Documents

  • Customer’s request letter
  • Company registration
  • Cashflow analysis  
  • Audited financials (if applicable)
  • Valuation report of property to be pledged as collateral
  • Legal mortgage over suitable property to be pledged as collateral

. CBN AGMEIS: All businesses involved in the Agric value chain, Real sector including manufacturing ,mining and petrochemicals and service sectors.


Summary

  • Maximum Tenor: 7 years
  • Maximum Limit: N10M
  • Interest rate: 5%
  • Moratorium available

Required Documents

  • EDI certificate
  • Business plan

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. CBN Real Sector Support Financing (RSSF): Businesses involved in manufacturing and construction.


Summary

  • Maximum Tenor: 7 years
  • Maximum Limit: N5 Billion
  • Interest rate: 9%

Required Documents

  • Customer’s request letter
  • Company registration
  • Cashflow analysis  
  • Audited financials (if applicable)
  • Valuation report of property to be pledged as collateral
  • Legal mortgage over suitable property to be pledged as collateral

. CBN Commercial Agricultural Credit Scheme(CACs): Open to all  Agric businesses.


Summary

  • Maximum Tenor: 5 years
  • Maximum Limit: N2 Billion
  • Interest rate: 9%

Required Documents

  • Customer’s request letter
  • Company registration
  • Cashflow analysis  
  • Audited financials (if applicable)
  • Valuation report of property to be pledged as collateral
  • Legal mortgage over suitable property to be pledged as collateral

. CBN Non-Oil Export Simulation Scheme (NESF): Businesses involved in the  export of agricultural products


Summary

  • Maximum Tenor: 7 years
  • Maximum Limit: N50M
  • Interest rate: 9%

Required Documents

  • Customer’s request letter
  • Company registration
  • Cashflow analysis  
  • Audited financials (if applicable)
  • Valuation report of property to be pledged as collateral
  • Legal mortgage over suitable property to be pledged as collateral

. CBN Anchor Borrower’s Programme (ABP): Businesses who use agricultural products as raw materials for production


Summary

  • Maximum Tenor: 2 years
  • Maximum Limit:N2 Billion
  • Interest rate: 9%

Required Documents

  • Customer’s request letter
  • Company registration
  • Cashflow analysis  
  • Audited financials (if applicable)
  • Valuation report of property to be pledged as collateral
  • Legal mortgage over suitable property to be pledged as collateral

. CBN Creative Industry Financing Initiative (CIFI): Businesses involved in fashion, information technology, movie  production and distribution, music production and distribution, Individuals involved in software production.


Summary

  • Maximum Tenor: 10 years
  • Maximum Limit
    • Software development: N3m
    • Fashion: N50m
    • Movie and Music production: N50m
    • Movie distribution: N500m
  • Up to 36 months’ moratorium
  • Interest rate: 9%

Required Documents

  • Customer’s request letter
  • Company registration
  • Cashflow analysis  
  • Audited financials (if applicable)
  • Valuation report of property to be pledged as collateral
  • Legal mortgage over suitable property to be pledged as collateral

. CBN Maize Aggregation Scheme (MAS):

Businesses involved in the following areas to enable them finance the purchase of home-grown maize.

  • Feed Millers
  • Poultry Farmers
  • Silos Operators
  • Warehouse Operators
  • Confectionery 

Summary

  • Maximum Tenor: 12 months
  • Maximum Limit: N2 Billion
  • Interest Rate: 9%

Required Documents / Union Bank SMEs Intervention Funds

  • Customer’s request letter
  • Company registration
  • Cashflow analysis  
  • Audited financials (if applicable)
  • Valuation report of property to be pledged as collateral
  • Legal mortgage over suitable property to be pledged as collateral

. CBN Health Care Intervention Scheme

  • Health Care Product Manufacturers-Pharmaceutical drugs and medical equipment
  • Healthcare service providers/medical facilities-Hospitals/clinics, diagnostic centres/laboratories, fitness and wellness centres, rehabilitation centres, dialysis centres and blood banks
  • Pharmaceutical/medical products distribution and logistics services

Maximum Limit / Union Bank SMEs Intervention Funds

  • Term Loan: N2 Billion
  • Working Capital: 20% of the average of 3 years of the obligor’s turnover subject to a maximum of N500 Million

Tenor / Union Bank SMEs Intervention Funds

  • Term Loan: Not more than 10 years with a maximum moratorium of 1 year
  • Working Capital: Maximum of 1 year with a provision for roll-over not more than 3 years Interest rate: 5%(To be increased to 9% effective March 1st 2021)

Collateral required / Union Bank SMEs Intervention Funds

  • Manufacturing of pharmaceutical drugs and medical equipment
  • Establishment/expansion/upgrade of basic and specialized healthcare facilities
  • Medical/pharmaceutical supplies  
  • Medical/pharmaceutical research and development(R&D)
  • Distribution of medical/pharmaceutical drugs and supplies
  • Manufacturing of medical/pharmaceuticals drugs distribution technology

Read More & Apply

Union Bank SMEs Intervention Funds
Union Bank SMEs Intervention Funds