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
. 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
