ARE YOU A MICRO, SMALL OR MEDIUM,BUSINESS OWNER??? DO YOU NEED FINANCAL ASSISTANCE FROM CBN TO START UP YOUR OWN BUSINESS ??? DO YOU NEED MORE FUND TO GROW YOUR BUSINESS??? THEN HERE ARE THE GUIDELINES YOU NEED TO FOLLOW TO QUALIFY YOU TO GET ASSISTANCE FROM CBN.

1.5 Developmental Component The Developmental Component makes up the remaining 10 per cent of the Fund. It shall be earmarked for developmental programmes in the following categories: 

 Grant (9.75%)

 Operational Expenses (0.25%) at take-off 1.5.1 Grant The 9.75% Grant Component of the Fund shall support general development of the MSME sub-sector. It shall be incentives targeted at institutions that demonstrate good loan repayment culture to enable them attain more capacity for expanded outreach. PFIs shall qualify for the grant component based on their performance rating in poverty reduction, job creation and financial inclusion. For institutions to benefit, they shall submit clearly defined projects and provide counterpart funding which shall be matched by the Funds grant support. An institution shall enjoy the grant once in three years up to a maximum of 25% of the project cost and subject to the discretion of the CBN. The following activities shall be supported under the component:

 a) Building capacity of staff of PFIs and their apex bodies

 b)Development of appropriate regulatory regime for MSME lending 

 c) Financial literacy and entrepreneurship development

 d) Mobilization, training and linking of MSMEs to financial services 

 e) Research and Development of MSME-friendly financial innovations and products

 f) Business Development and Advisory Services

 g) Building of financial infrastructure in support of MSMEs Other areas of technical assistance under the Grant subcomponent include support in the areas of internship,