Creative Sector Loan from Access Bank PLC

       

Creative Sector Loan


The creative sector loan is a Central Bank of Nigeria initiative aimed at capacity building and employment creation for individuals and businesses currently into any of the following:


  1. Fashion
  2. Information Technology
  3. Movie Production
  4. Movie Distribution
  5. Music
  6. Software Engineering Student Loan



Benefits


  1. Low cost-single digit funding for your business
  2. Flexible structure and repayment plans
  3. Opportunity to achieve your long term business goals
  4. Excellent financial advisory service


How it works


  1. Prepare your business plan or statement on how much you want for your business.
  2. Go to any Access bank branch with the above mentioned document or apply online through our Creative sector loan portal
  3. Our Relationship officers will contact you for further discussion and process your loan request.
  4. The maximum interest rate of 9% per annum (all charges inclusive) is applicable on all loans.

The repayment period is a maximum of:
a) 3 years for Software Engineering Student Loans
b) 10 years for Movie Production & Distribution, Fashion, Information Technology and Musicligibility Requirements
Eligibility Requirement
The eligibility requirements to access the loan are

Business Plan
Economic benefits


  1. 3 Years Financial Projections
  2. 3 years audited accounts for existing companies
  3. Statement of Affairs for start-ups and companies with less than 3 years of existence
  4. Copies of duly executed offer documents between the bank and loan applicants
  5. Certificate of Incorporation. R.C
  6. Brief on Directors
  7. BVN
  8. Tax Identification Number (TIN)
  9. Previous /Current Management Position
  10. Shareholding
  11. At least 2 Credit Reports for the company and each Director

Proposed schedule of fund disbursement


  1. Proposed schedule of fund repayment
  2. CBN Intervention(s) which the project is Currently Benefiting from
  3. Outstanding Amount(s) in respect of 12 above


Minimum Equity Contribution-30% of total project cost
Provide evidence of any of the following:
   - Legal mortgage
   - All asset debenture
   - Personal Guarantee

Apply Here: Access Bank

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