Types of NERFUND LOANS

 

At the moment, there are two basic credit products on offer, namely:

  • Micro credit Loan scheme and;
  • SME Credit Facility

 

MICRO CREDIT LOAN SCHEME:

The Micro Enterprise Loan is a term facility meant for establishing target industries with total cost of investment, excluding land and building, valued below Five Million Naira (N5, 000,000.00). Other attributes of this product include, but not limited to the following:

  • Collateral Free
  • Single digit interest rate

  • 3 - 6 months moratorium period

  • Three years repayment period

  • One percent appraisal fee (one-off payment).

  • 10% equity contribution

 

     

 

Criteria for Micro Loan

 

       

 

 

SME CREDIT FACILITY:

The SME credit Facility is the traditional forte of NERFUND where it funded the establishment of 266 Small and Medium scale Enterprises between 1990 and 1999.

  • The SME credit facility attracts 13.5% per cent interest rate. This may vary, depending on the source of fund.
  • A fixed asset collateral is required
  • A moratorium period of up to one year
  • A repayment period of up to five years
  • Two percent appraisal fee
  •  Above 5 million Naira.

 

 

 

Criteria for SME

  • Detailed feasibility studies

  • Written application stating the amount required and the purpose

  • Possession of Limited Liability Company

 

 

 

 

DOWNLOADS

 

How to Obtain NERFUND Funds

 

    →   Eligibility

    →   Project Selection

     →  Who can NERFUND Assist?

     →  Types of NERFUND Loans

     →  NERFUND at 25 - Pictorial Catalogue

 

 

 

 

    

 

 

Eligibility


All Nigerians are qualified to apply for NERFUND loans either as individuals, Associations, Cooperatives or Corporate Entities/partner institutions. The NERFUND facility is an easy click ... Click here to know more

 

   Get Started with NERFUND

 

     → Who can NERFUND Assist?

     → Project Selection

     → Types of Nerfund Loan

     →  Contact Nerfund

Copyright ©2015 NERFUND. All Rights Reserved!

Website Powered by KJK.COM.NG

Copyright ©2015 NERFUND. All Rights Reserved!

Website Powered by KJK.COM.NG