Many countries are putting different measures in place to help businesses survive the coronavirus outbreak. About two weeks ago, we reported how some African governments are playing their part to support businesses at this critical time.
In Nigeria, the Central Bank of Nigeria (CBN) and the Federal Ministry of Finance, Budget, and National Planning introduced a ₦50 billion Targeted Credit Facility (TCF) as a stimulus package to assist families and micro, small and medium enterprises (MSMEs). The intervention fund is also available to manufacturers, households, pharmaceutical and medical supplies, firms in agricultural value chain activities, etc.
It should be noted that the exit date for this monetary and fiscal measure is December 2024 and the apex bank will continue to review the framework of FG’s ₦50bn Credit Facility from time to time.
In this regard, smepeaks is liaising with Sidebrief — a company focused on making compliance affordable for locals and foreigners doing business in Nigeria — to provide end-to-end support, guide, analysis and necessary documentation your business needs to qualify for, and access the FG’s ₦50bn Credit Facility.
Why you should participate
- Accessing government funds or grants could pose some challenges as it is quite easy for people to fall into the wrong hands or pay unnecessary fees to illegal people just to access the funds.
- The partnership looks to help business and startup owners cushion these challenges as well as assist businesses to evaluate their eligibility, the application process, and access the loans or stimulus packages available
- It aims to offer free service to businesses in Nigeria who need access to different COVID-19 business loans or grants they may be eligible for within and outside Nigeria
- We help you analyse your current business standing, interpret the requirements to your understanding, and put together the necessary documents you need to access the FG’s ₦50bn Credit Facility (TCF).
How to participate for free
- First, you have to determine your business or startup’s eligibility by correctly filling the evaluation form with all the needed information
- After your response is received, a team will get in touch with you on your eligibility for available funding options.
The goal for both partners is to help as many legitimate businesses as possible access loans to keep up with their business operations pre and post-pandemic until the Nigerian economy rebounds.
Get started for free and share this opportunity with other businesses you know.
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