NEXIM Loan Registration 2022 for Businesses – NEXIM was established by Act 38 of 1991 as an Export Credit Agency (ECA) with a share capital of N50, 000,000,000 (Fifty Billion Naira) held equally by the Federal Ministry of Finance Incorporated and the Central Bank of Nigeria.
Direct Facility Loan – NEXIM Loan for Businesses
Under the Direct Lending Facility, NEXIM would grant short, medium and long term fixed or floating rate loans, to exporters directly and/or under co-financing/syndication arrangement with eligible banks.
Direct loans are available to assist exporters complete their export sales, by providing working capital and/or facilities and funds for procurement of equipment. Services include, but are not limited to consultancy, tourism, oil and gas services provided by Nigerians. Loans are granted directly to a Nigerian exporter in both local and foreign currencies up to 80% of the total project cost
The following items are not eligible for financing:
Participating Bank – NEXIM Loan for Businesses
Banks wishing to participate in co-financing a project with NEXIM must be in good financial health as evidenced by three years Audited Accounts, and meet additional criteria set by NEXIM from time to time.Where NEXIM is invited to join a syndication arrangement, member banks must be ready to provide the working capital requirement of the borrower and subsequent cost overrun.
Collateral Requirements – NEXIM Loan for Businesses
The security may be one or more of the following:
The following documents should accompany the application:
Interest Payment – NEXIM Loan for Businesses
For project related financing, interest payments shall be made in the currency of disbursement and on a semi-annual basis in arrears on outstanding balances commencing within six-months from the date of first disbursement or as may be determined at the time of disbursement. Subsequent payments shall be made on the installment dates of loan balances.
Fee & Charges – NEXIM Loan for Businesses
Disbursement – NEXIM Loan for Businesses
Loan Repayment – NEXIM Loan for Businesses
NEXIM may consider repayment terms of up to three (3) years from the date of initial disbursement for project related financing. For short-term facilities, repayment terms shall be a maximum of 365 days, while repayments for letters of credit confirmation/refinancing shall be a maximum of 360 days.
For project related financing, payments will normally be made in a set number of equal and consecutive installments typically within six months from the expiration date of the moratorium period. After the moratorium period, installments of loan principal and repayments of interest would be synchronized.
All principal repayments shall be in the currency of disbursement and in accordance with the repayment schedule established at the time the loan is granted.In case of default on any facility or due loan instalments,NEXIM shall charge a penal rate of 4% p.a. for short term facilities and 1% p.a. for medium and long term facilities, above the rate at which the initial loan was given and for the period of the default. All payments received shall be applied to defray interest charges first before application to principal amounts outstanding.
Other Aspect – NEXIM Loan for Businesses
How to ApplyInterested Persons should click the link and apply
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