FREE Report!!! How to Get Loan from CBN or Your Bank Now!

Are you wondering how to get a Loan from CBN or your bank with a low-interest rate and enough time to pay back? You’re in the right place. Please make sure you read this report till the end! I have a Surprising Information for you at the end of the report!


You may be wondering what’s suddenly different now from the usual disheartening stories of banks not giving out loans and when they do, they often impede the process with what appears to be unnecessarily difficult requirements and documents. In truth, these difficulties are put there to discourage loans as banks are indeed, unwilling to give them out. The reasons for this may not be far-fetched; the fear of the high rate of defaulters, as well as the high financial risk involved. However, we must admit that most commercial banks are lazy. “How?”, you may ask. I’ll offer a brief explanation before we go into the real meat of this book.

Commercial banks were primarily established to receive deposits in the form of money and give out loans to businesses, SMEs, etc. However, most of the commercial banks seem to be quite sluggish where loans are concerned but prefer to invest these deposits into Government and other low-risk investments like Treasure bills, et al. Government Bonds and treasury bills give them an interest of 12-15% annually and the risk involved is quite low. Sometimes, they also give loans to important personalities such as politicians, as well as some low-risk industries at the expense of funding the SME sector that makes 47.8% of Nigeria’s GDP.

Due to this feet-dragging attitude of the commercial banks, the CBN Governor, Mr. Godwin Emefiele on July 3rd, 2019, directed all Deposit Money Banks (DMBs) to maintain a minimum Loan Deposit Ratio (LDR) of 65% by the end of December 2019. Below is a copy of the document containing this directive to the deposit banks. I’ll be explaining the implications of this directive as you read further.

Source: https://www.cbn.gov.ng/Out/2019/CCD/Lending%20to%20Real%20Sector.pdf

For better understanding, let’s break down some of the terms used above. 

The LDR is the portion of customers’ deposit that is given out as loans while the Cash Reserve Ratio (CRR) represents the share of customers’ deposit that is kept with the central bank. The banks do not earn interest on this money kept, unlike loans. Still confused? Let’s break it down.

LDR is simply the ratio of the bank’s total loans to its total depositsThis means that rather than investing most of the customers’ deposits in Treasury bills and other low-risk investments while ignoring the real sectors of the economy(SMEs), the Deposit Money Banks are being forced by the Central Bank of Nigeria to give out up to 65% of such deposits as loans to SMEs. If they fail to comply, CBN will withdraw 50% of this LDR to be placed in the CRR. This money is taken without interest and is, therefore, a big loss to the commercial banks.


The Banks are certainly not interested in losing 50% of their LDR to CRR so they have no choice but to give out more loans as directed by the CBN.

Ever wondered why there are so many bank advertisements for loans? You may have received countless text messages imploring you to apply for loans. The above CBN directive explains it all. Notwithstanding, banks will not give loans to just anyone. They will rate your loan offer based on your business plan, the risk involved and your capacity to payback.

Further down in this report, we’ll discuss how banks and CBN intervention loans work and the different types of loans that are a likely fit for your business Idea.

How CBN Loans Work

CBN issues intervention loans for various sectors such as agriculture, manufacturing, fashion, as well as other SMEs. These loans are disbursed to selected commercial banks or agencies and interested business owners are expected to apply for those loans through commercial banks and agencies. The majority of these loans have a 9% interest rate and lifespan of 3-10 years, making them more favorable than commercial bank loans.

How Banks Loan Works

Commercial banks also have loans tailored to SMEs in various sectors and while some have none at all, others have more than one initiative for SME funding and support. 



The Central Bank of Nigeria (CBN) in collaboration with the Bankers’ Committee as part of efforts to boost job creation in Nigeria, particularly among the youth, has developed a Creative Industry Financing Initiative (CIFI) fund.

 Eligible Businesses

  • Fashion
  • Information Technology
  • Movie Production
  • Movie Distribution
  • Music
  • Software Engineering Student Loan

Abridged Terms and Conditions

Facility Amount: 1-10 Million

Tenor: 2-10 Years

Pricing: 9% per annum

Documents Required for Disbursement

  1. Accepted Offer Letter
  2. Business Plan
  3. Board Resolution (if corporate)


Eligible Activities under MSMEDF

In line with the provisions of the Revised Microfinance Policy, Regulatory and Supervisory Framework for Nigeria, enterprises to be funded under the Scheme include:

a) Micro Enterprises.

b) Small and Medium Enterprises (SMEs)

Eligible activities under the Fund include;


  • Agricultural value chain activities
  • Cottage Industries
  • Artisans
  • Services
  • Renewable energy/energy efficient product and technologies
  • Trade and general commerce

Other economic activities as may be prescribed by the CBN.

Documents Required for Disbursement

  1. Accepted Offer Letter
  2. Business Plan
  3. Board Resolution (if corporate)



The maximum obligor limit is N2 billion for medium and large scale private sector enterprises while there are no limits for state governments.


Single digit interest rate (9% all-in, max).

This fund is available till 2025.

Who Can Apply

  • Medium or Large scale commercial farms involved in the cultivation of crops, rearing of livestock, fisheries, etc.
  • Limited Liability Companies involved in agricultural production, storage, processing, marketing, and enterprise development.

Required Documents

  1. Formal application for a credit facility.
  2. Certificate of Incorporation (If Limited Liability Companies)
  3. Memorandum and Article of Association (If Limited Liability Companies)
  4. Board Resolution to Borrow (If Limited Liability Companies)
  5. Feasibility Study/Business Plan.


FGN SPECIAL INTERVENTION FUND FOR MSMEs (National Enterprise Development Program)

This is a Federal Government of Nigeria initiative to provide subsidized loans to Micro, Small and Medium Enterprises (MSME) at a single digit (9% per annum) all-inclusive interest rate. The fund also caters to applications received from SMEDAN under the National Enterprise Development program (NEDEP) Scheme.


Target market     

The fund will be accessed by Limited Liability Companies, Enterprises and Cooperatives (Clusters) in the following segments of the fashion & beauty value chains:

  • Adire (Tie & Dye) & Aso-Oke
  • Clothing (Design and production)
  • Fashion/Beauty Training Institutes
  • Leatherworks
  • Distribution (Local label retailing)
  • Beauty salons (Hair, skin, face/make-up, feminine cleaning etc.) 

Single obligor limit          

Both Term Loan & Working Capital should not exceed the upper limits of the following categories:

Micro Enterprises                         N10.0 million maximum

Small Enterprises                          N50.0 million maximum

Medium Enterprises                    N200.0 million maximum


To be disbursed towards the acquisition of equipment and provision of working capital.


Target market/ criteria  

The Fund will be accessed by Limited Liability Companies, Enterprises, Cooperative societies and Associations engaged in the food and agro commodity processing value chain for the local or export market. This will include aggregators, processors, packaging and distributors/retailers.

Single obligor limit          

Both Term Loan & Working Capital should not exceed the upper limits of the following categories:

Cooperatives/Enterprises          N10.0 million maximum

Limited Liability Company      N200.0 million maximum


Interest Rate:  9% per annum
Fees:               1% Processing Fee
Term Loan:                  3 – 5 years

If your business falls into any of the listed categories above, congratulations are in order; you’re one step closer to getting your first CBN loan.


Right now, with these CBN directives, all Commercial banks are open to any SME loan as long as it fits into their requirements. They might not openly invite SMEs for loans but when you make the right connections with the right people and you go there with a unique business idea and an outstanding Business plan, I can promise you 100% you will get a loan from any of your preferred banks.


Loan offers get rejected every day, yet, a considerable number of SMEs successfully access loans from various agencies, especially the Bank of Industry. The important questions to ask are, “What are the successful SMEs doing differently? Why are the others getting rejected?”

It’s pretty simple; the people reviewing your loan offers are smart, profit-driven and uninterested in throwing money away. They are keenly assessing the following parameters;

Business Plan/Idea/Feasibility study

Your business idea must first original and aimed at meeting actual existing needs. Drafting an airtight business plan that shows and practicable operations and profitability is the next important step in impressing the banks. No one wants to lend money to a plan that won’t work or make enough profit to pay back such loans. A business idea may have very good prospects, but a badly written or shoddily presented business plan may destroy your chances. Feasibility studies are pertinent to convincing the banks. You need to be able to demonstrate that this business plan actually works in real life for real people.


Your business presentation must be just as good as your physical presentation. Your appearance and carriage also make an impression on the banks. You must present an outlook of professionalism and confidence in order to win them over.

How To Apply

The best way to apply for any of these loans is through your account officer. You can get the contact details of your account officers through your internet banking platform or send an email to your bank requesting for contact details of your account officer. I will advise before you do that, make sure your prerequisites are all intact so you don’t waste your time because these banks are quick to reject your offer once they see any fault in your Business Idea or personality. 


While the new CBN directive has opened numerous timely doors of opportunity by making more loans accessible with relative ease, the scrutiny of loan eligibility by the commercial banks and agencies remains just as keen as it has always been. This means that SME owners must be armed with the right information and attitude in order to maximize the present loan opportunities. 

This report has only laid a foundation for the right knowledge on how to obtain loans successfully.

I know you have lots of questions in your mind like:

How do I take advantage of this CBN directive?

How do I choose a Unique Business Idea?

How do I Prepare myself before meeting my Loan officer?

How do I write a Business plan that will make a broke man borrow money to fund my business?

All your questions have been answered here ⇒ http://bit.ly/37WJLMv

Click here to read How ⇒ http://bit.ly/37WJLMv

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