ProvidusBank and Nigeria Climate Innovation Center (NCIC) have entered a partnership to provide access to finance for green eligible SMEs in Nigeria for the purpose of scaling green businesses, creating wealth, reducing unemployment by generating green jobs, driving the private sector, and improving the country’s GDP, while keeping the environment safer, cleaner, and more sustainable.
To apply, go to https://nigeriacic.org/ncic-pbl-green-sme-financing-application/
- How to Set Up Npower Batch C’ Biometrics Fingerprint Enrollment 2021
- EFCC Arrest Founder of Inksnation, Omotade-Sparks Amos Sewanu
- Open Heaven 29th May 2021 RCCG Daily Devotional (The Key To Long Life And Prosperity)
- Just IN: How to Check your Npower Batch C’ Status and Capture Your (Biometrics) Thumbprint
- Npower Recruitment 2021 Application Form & Portal Registration
The said partnership with ProvidusBank has structured a credit line of N500 Million exclusively to finance eligible Green SMEs in Nigeria.
Business Areas Eligible for Funding
The ₦500Million Naira Green Financing Scheme is designed to finance climate-smart businesses playing in the following green thematic areas such as:
- Renewable Energy,
- Waste Management,
- Smart Agriculture,
- Water Solutions & Innovation, including;
- Circular Businesses with positive environmental impact
Eligibility & Requirements For Financing
The SME Must Fulfil The Following Conditions, the Company must have operated for a minimum of 12 months as evidenced by the Certificate of Incorporation, Business Registration, Date of Incorporation/Registration.
- A review of the customer’s 12 monthly’ bank statements from the primary bank used by the business.
- Extracted debit and credit turnover analysis of the bank’s statement.
- Operational cash flow from business operations must be able to service loan obligations regardless of other sources of income. Other sources of income are secondary.
- Verification of ALL Customer’s supporting documents.
- The business location shall be a verifiable office in use by the borrower.
- Directors and Promoters of the corporate entities/Business Name must have BVN.
- The customer must have a good credit history. This will be confirmed via a credit check on the client (Promoters/Directors) and Business.
- KYC documentation must be in place (No deferrals).
- Satisfactory legal search report on the company (the search must not be more than six months old).
The maximum loan amount for a borrower is capped at N10 Million. However, approval can be sought for higher amounts in the event the borrower’s cash flow demonstrates the capacity to borrow more than the capped amount.
If screened and selected as a potential borrower, documentations for financing will include the following:
Valid means of identification (includes National ID card, International Passport, Drivers’ License, & other acceptable means) for individuals and promoters of business name registration
Company’s Memorandum and Articles of Association as filed with the Corporate Affairs Commission (Business name and corporate entities)
- Loan application letter
- 12 months bank statement
- Credit Bureau Checks
- Company profile
- Management profile
- Cash flow projection
- Relevant operating license
- Duly executed Loan offer letter
- Loan Agreement
- Advisory fee Agreement
- Domiciliation of cash from business – Opening ProvidusBank account
- Board Resolution for Corporate entities; Letter of Undertaking for Business Names
- Evidence of KTC Adequacy
For more information, kindly write to help, we would be glad to help.
- Apply For: Rise Up Youth Champions Initiative 2021 grants
- Katsina State College of Nursing and Midwifery (CONAMKAT) Community Nursing Programme Admission Form 2021
- Open Heaven 16th June 2021 RCCG Daily Devotional (The Sin Of Covetousness)
- Federal University of Technology Minna (FUTMINNA) Pre-Degree/IJMB School Fees for 2021/2022 Academic Session
- Professional Tailor at Westingate Group – Apply Now
Religion7 days ago
Open Heaven 10th June 2021 RCCG Daily Devotional (Blessed Fruitfulness)
Npower6 days ago
N-Power: FG shortlists 550,000 Batch C applicants for final stage
Nigeria News7 days ago
How to Gain Admission to Study Abroad – See Steps
Nigeria News7 days ago
Update: Npower Batch C Stream 2 Commencement Date…
Scholarship6 days ago
TY Danjuma Scholarship 2021/2022 for Africans to Study in Leading Business Schools
Religion6 days ago
Open Heaven 11th June 2021 RCCG Daily Devotional (Let There Be Order)
Education5 days ago
JAMB considers conduct of a 2nd UTME for 2021 candidates with registration issues
business5 days ago
CBN Nirsal Covid19 Loan 2021 Approval Begins – If you applied for House Hold, Check here