Central Bank of Nigeria (CBN) approved N50billion intervention fund for the textile industry. The funds would be used to resuscitate the ailing textile sector, restructure facilities and provide further facilities for textile firms with genuine need for intervention. Register here.
Are you interested in applying for Central Bank of Nigeria (CBN) Textile Industrial free interest Loan? The Bank of Industry (BoI) will administer the fund at 4.5 percent interest rate, as stated earlier the the funds would be used to resuscitate the ailing textile sector, restructure facilities and provide further facilities for textile firms with genuine need for intervention.
According to Bank of Industry (BoI) , maximum financial amount is N2billion for a single obligor for new facilities and N1billion for refinancing.
Activities to be covered are operations in the CTG value chain include:
- Cotton ginning (lint production)
- Spinning (yarn production)
- Textile mills
- Integrated garment factories (for military, para-military and schools and other uniformed institutions).
Note better, those eligible to participate are textile companies with an existing facility in the books of BoI under the CTG scheme, and those with existing facilities in Deposit Money Banks/Non-Interest Financial Institutions (NIFIs).
How to apply for Central Bank of Nigeria Textile Industrial Loan
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