GTBank Creative Industry Financing Initiative (CIFI) Loan 2021 Application

GTBank Creative Industry Financing Initiative (CIFI) Loan 2021 Application

Get up to N500 million to finance your creative business with the Creative Industry Financing Initiative, supported by GTBank and funded by the Central Bank of Nigeria.

 

This facility is available to entrepreneurs in fashion, music, movie production, and information technology.

 

The Creative Industry Financing Initiative (CIFI) is a loan scheme developed in collaboration with the Central Bank of Nigeria (CBN) to provide access to long-term and low-interest financing for entrepreneurs in the creative industry, including Fashion, Music, Movies, and Information Technology.

 

Features

Software Development and Movie

 

• N3million to N500million Student Software Development Loan
• Interest Rate 9% per annum
• 3 years to 10 years Tenor
• The moratorium for 9 months to 24 months from the date of disbursement
• Monthly and Quarterly Repayment
• Minimum Equality Contribution (0%/30%), University Degree, NYSC Certificate, Credible Guarantor, Personal Guarantee
• Must gain admission into a training organisation that has job placement contracts. No bad credit history with CRMS or any commercial bank in Nigeria bank. Preference for areas with low IT penetration
• Minimum Equity Contribution (0%). DMB (Term Loan) - 100%

 

Fashion, Information Technology (IT) and Music

• Monetization: Equipment Purchase, Rental/Service fees
• Interest Rate 9% per annum
• 10 years Tenor
• Moratorium: 36 months from date of loan disbursement
• Quarterly Repayment
• Security Arrangement: Minimum Equity Contribution (20%), Mortgage Debenture, Legal Mortgage, Lien on the stock of trade and items of equipment.
• Other Conditions: At least three (3) referrals from recognised sponsors or bodies or organisation, Minimum of three years (3) relevant experience, No bad credit history with CRMS or any commercial bank in Nigeria.
• Funding Structure: Minimum Equity Contribution (20%). DMB (Term Loan) - 80%

 

What's in it for you?

• Up to N500 Million for your creative business
• Low-interest rate of 9% per annum
• Flexible repayment plan spread over 3 - 10 years

 

Who Can Apply

Entrepreneurs in the following sectors of the creative industry:

 

• Fashion (Designers)
• Music (Music Production & Distribution)
• Movie (Movie Production & Distribution)
• Information Technology (Information Technology & Student Software Development Loan)

 

Eligibility

To be considered for the Creative Industry Financing Initiative, your business must satisfy the following requirements:

 

• Be a part of the creative industry (fashion, music, movies, and information technology).
• Registered with the Corporate Affairs Commission
• Submit a comprehensive business proposal
• Clean Credit Bureau Report with no unpaid obligations
• Satisfactory CRMS report of owners, sponsors, and directors

 

Click here to apply for online GTBank CIFI Loan

 

Need Help?

Visit the Help Centre

or Call:

+234 700 4826 66328

+234 1 448 0000