Professional Documents
Culture Documents
INTRODUCTION
The National Economic Reconstruction Fund (NERFUND) was established by Decree No. 2 of 1989 to act
as a catalyst towards the stimulation of the rapid rise of real production enterprises in the country. The
NERFUND was specifically mandated to provide long/medium term loans to entrepreneurs through
commercial/merchant banks for industrial growth of Nigeria. For the delivery of these services, the
institution focused on its vision, mission and mandate as stipulated by its decree.
1.0 VISION
1.1 “To continuously build on our present expertise and grow to become, not only an apex institution
for SME financing in Nigeria, but a reference point for credible performance, based on prudent
utilization of human and material resources, so as to continue to attract foreign funding in aid of
the Nigeria Small and Medium Scale real production Entrepreneur”.
ii) Provide working capital loans of up to N50million for a tenor of maximum of 3years inclusive of a
six months moratorium in naira currency only.
iii) Provide extension services including advisory services direct to promoters of small and medium
scale industrialists.
b) the enterprise or project is small – or medium – scale and its fixed assets,
other than land including the cost of fixed assets, that requires funding
from NERFUND, does not exceed N36 million; and
Your bank may also demand that you possess thorough knowledge of your
project, obtain able management and show commitment to it, etc. Banks are
expected to assist project promoters with bankable ideas and provide them
with technical and expert assistance through to the maturity of the financed
projects.
HOW TO OBTAIN THE NERFUND LOAN
Thoroughly study and understand your project. You should be the expert on
its market, finance, process and prospects. Promote the project to attract
other financiers, managers, technicians and investors, partners, shareholders
or employees.
Feel free to consult your State Advisory Committee for advice and guidance
at every stage of your preparation and application.
Your first port of call for the NERFUND loan application is your local
bank, which will accept and process your application for the bank’s
consideration. Since the banks are the primary obligators for the loans, loan
applications will be considered in the usual customs of the participating
banks.
This process is to ensure that only projects that banks are reasonably sure
will succeed would be financed by the NERFUND, as the Fund is not in
business to finance failures. Partnerships and Corporate bodies in which
successful traders, financiers, managers, technocrats and promoters team up
to promote productive activities, would be considered more secure
investments than sole proprietorship.
OBLIGATIONS OF CUSTOMERS
i) They are to be fully acquainted with the regulatory requirements before participating in the
NERFUND scheme.
ii) Adhere strictly to all approved procedures for obtaining the NERFUND loans
iii) Provide all relevant and prescribed formats and allow reasonable time for processing the loans
required.
COMPLAINTS METHODS/PROCEDURES
(2) MD/CEO
Alh. Maina Gimba
NERFUND Hqtrs Office
N0. 1340 Aminu Kano Crescent
P.M.B. 319 Abuja.
i) Source of long term funds at affordable rates to ensure sustenance of projects financed.
v) Provide linkage to government policies to ensure that SME expectations are incorporated in
annual development plans and policies.
Shool and other entrepreneurs who are ready to do business with them for long
This is a micro finance bank were you can get loan. According to the C.E.O. of
The bank you don’t need to run an account with the bank for six month to quality
For loan This bank is giving special preference to shool that belong to the association for formidable
educational development (AFED). If you are a school owner ,this bank Is good for you as they will not
demand for any collateral to grant you loan and You will be given an interest rate lower than the normal
rate.
NOTE.
AFED must be able to certify you as a bonafide member before you can enjoy this Loan apart from school
owners ,other business men and women can also approach this bank for loan in as much asyou have a
legitimate business and genuine documents
As your partnership with them grows,their demand for collateral wanes .this is a very good bank for
entrepreneurs who have no collateral to secure loan.this bank’s emphasis is on character and credit
worthiness and not collateral according to their C.E.O
CONTACT ADDRESS:
CONTACT PERSON
Mr . Nduka
Tel :08036054269
This is another bank that AFED has reached an agreement with. Under this agreement, any bonafide
member of AFED can apply for loan from any UBA branch without collateral and interest rate below the
normal interest rate. To open a school account you can contact this branch of UBA so as to facilitate your
loan.
Apart from school owners, this particular UBA is really interested in entrepreneurs who are really serious
about building their business. Their hospitality is second to to none. All you need to secure loan from them
is do business with them for six month and run your account very well. They will investigate you and your
business and at once you are cleared.
I advise you should start by applying for small loan that you can easily pay back before the said time. The
more prompt you pay back your small loan the more credit worthy you become and in no distant future
they will definetily grant you a big loan in as much as they are satisfied that you can meet up with the
payment.
You can enjoy this special arrangement by opening an account with any UBA branch in your area and if
you already have an account just get in touch with your account officer and inquire how to benefit from
their loan packages.
HOW IT WORKS
You will open this loan account with them you will need just one surety ( preferably a member of the
immediate family). They will do their site inspection and you will start a daily contribution of a fixed
amount.
At the time of the month the bank will give you 3 times what ever you have on your account with them.
REPAYMENT OF LOAN
You repay this loan by continuing the daily fix contribution but with additional 2% for the next 2 months.
You can get another loan as soon as you pay the existing loan.
MATHEMATICAL ANALYSIS
2 x N1000 = N20
100
During repayment your daily contribution becomes N10,200 daily for the next 2 month after which you
continue with your normal N10,000
Contact Information:
Fax: +23412717392
Email: info@imfb-bank.com
Website: www.imfb-bank.com
NICE MICROFINANCE BANK (OLD NAME : NISE COMMUNITY BANK)
This is another bank that gives loan to small and medium scale business as well as co-operative society.
They give more loan to co-operative societies.
If you are in co-operative society, just inform your people and contact them and they will grant you
collectively once they are satisfied with your proposal. They can give you up to N1m to each member of
the co-operative.
Recent project
Granting of N10m each to 31 co-operative society in Anambra State. (check the punch, july 24 for proof)
Contact information
DIAMOND BANK
Diamond Bank offers access to short and medium term financing for working capital & asset purchase
needs with reduced collateral requirements. These loan products are as follows;
Revolving Credit is a Line of Credit / Term loan for short-term financing (max. 1 year)
Instalment Loan is a Term Loan for fixed assets financing available for up to 3 years
Mediloan is a Partnership between Diamond bank and USAID (United States Agency for International
Development), that has developed a credit Scheme focused on businesses operating specifically in the
health care sector.
Local Purchase Order (LPO) finance – is a short term finance facility to MSME customers to carry out
supply requests. The supply order must come from only pre-approved institutions by Diamond Bank Plc
Contract finance - is a short term finance facility for the execution of contracts from Diamond Bank’s
approved list of companies. Finance is available for a variety of legitimate contracts awarded by
government agencies and reputable private organizations in the country operating in the different sectors
and contracts with varying levels of complexity.
Import finance - offers credit facilities to MSME customers who require finance for importing either raw
materials or finished goods for sale. It also offers short term credit facilities to these importers for the
purpose of duty payment.
APART FROM FROM BANKS, INCLUDED INTHIS PARKAGE ARE SOME FINANCIAL ORGANISATIONS
AND NGOS THAT ACTUALLY GIVE LOANS WITHOUT COLLETERAL.
IN FACT, THE ONLY THING YOU WILL NEED TO SECURE LOANS FROM THESE ORGANISATIONS AND
NGOS ARE:
This is submitted to a loan officer. Remember, banks, NGOS or foundations who give loans or grant and
want to be sure that the beneficiary knows exactly what he/she needs the money for and also that
he/she can actually payback the loan or make a judicious use of the grant.
1. GENERAL INFORMATION
i.The business name
ii.Address
iii.The principals and their status
iv.The purpose for which the loan is needed(state exactly what you want to use the loan/grant for.)
v.State the exact amount of money you need to execute that your personal need or for humanitarian
services. (grant)
2. BUSINESS DESCRIPTION
i.Enumerate the beginning and the nature of your business
ii.State how old your business is
iii.State your number of staff
iv.State your current asset
NOTE
Describe your business using the above as guide (please, give facts and figures)
3. MANAGEMENT PROFILES
i.Write a short note on each of your staff.
ii.Give their educational background, work experience, skills/technical know-how and achievements
(either with you or their previous companies /business)
4. MARKET INFORMATION
i.Describe your products /service in term of need it fills. The uniqueness and effectiveness in filling
these needs.
ii.Describe those that will buy your products/ service and why they will buy it.
i.Identify your competitors and describe how your products/service will capitalize on the weakness of
their own products/ service and match the strength of their product /service as well.
iii.
iv.Describe how your product/service will add value to the market place.
5. FINANCIAL INFORMATION
ii.Prepare your balance sheet and income statement for the past 3 years.
iii.If you are just starting your business or about to go into the business, provide a projected balance
sheet and income statements.
iv.Prepare your own personal financial statement as well as that of your principal staff.
NOTE
Except you have the knowledge of accounting or you are an accountant, let an accountant do the financial
information for you.
If you still have problem writing your business plan and loan proposal or you don’t want to go through the
stress of writing it yourself, then contact BUSINESS IDEAS INCUBATION SERVICE @ 110 Tetlow,
Owerri or call 08140970926
ENUGU STATE
1 Small Project Fund (Spf}
{individual loan}
2/5,Ikwuaco street,
Enugu
042-252727
Contact person : Mr John Umeh {manager}
2 Greenlife Foundation
B6,C.T.C Plaza, 8 presidential Avenue
Npkokiti junction.
042-256746
ABIA STATE
11,Adlabu Street,
JOS
OGUN
KADUNA
OYO
02-8106580
BAUCHI
Rivers state.
EDO STATE
Benin City
1. Visit the foundation’s website to get more information on how to apply and the guidelines.
2. If there is no website listed, contact the information by phone or letter for application
guidelines.
3. Request for their annual report. The information you need concerning the application guidelines
will be in it.
4. When writing a letter for individual grant, please be succinct. Go straight to the point stating the
purpose the money is to serve. Not forgetting the hardship you are going through now as a
result of your financial incapability. {write emotionally}
5. Find out those that will benefit a lot from your service or talent but could not afford it because
they are poor and write a letter on their behalf. State how the grant will enable you render
quality service or help these people in order to improve their lives.
{From experience and testimonies, this type of letter has always received more attention from
philanthropists and foundations than any other form of letters}
6. When you are contacting a foundation or a philanthropist. Please, I repeat use genuine
documents as your application will be declined immediately it is discovered that there is any
form of discrepancy in your documentation and their investigation.
7. Never give up, keep trying until your application is considered.
ENVIRONMENT {ENV}
HUMAN CAPACITY DEVELOPMENT {HCD}
CONTACT INFORMATION:
E-mail : cipe@cipe.org
Website: www.cipe.org
USAID SECTOR:EGAD,HCD,ENV,PHN
CONTACT INFORMATION
Chevron corporation
Website: www.chevron.com/community/frame.html
CONTACT INFORMATION
Charles V. Raymond,
Citi-group foundation
850 3rd Avenue, 13th floor
Tel : {121}559-916
Website: www.citigroup.com/citigroup/homepage/foundation
DATE FOUNDED:1994
CONTACT INFORMATION
Seattle,WA 98102
Website: www.gatesfoundation.org
CONTACT INFORMATION
Cocacola foundation,inc
1 coca-cola plaza, NW
Atlanta, GA 30313-3009
WEBSITE: www.thecoca-colacompany.com/foundation/index.html
DATE FOUNDED:1936
CONTACT INFORMATION
Ford foundation
Website: www.fordfound.org