USD: BUYS N414.00 SELLS N424.00 EUR: BUYS N460.62 SELLS N488.79 GBP: BUYS N554.10 SELLS N584.53 CAD: BUYS N325.50 SELLS N344.13 USD: PTA/BTA N/A : OTHER INVISIBLES N/A: SME TRANSACTIONS N/A
USD: BUYS N414.00 SELLS N424.00 EUR: BUYS N446.87 SELLS N474.75 GBP: BUYS N534.10 SELLS N564.05 CAD: BUYS N325.86 SELLS N344.46 USD: PTA/BTA 419 : OTHER INVISIBLES 419 : SME TRANSACTIONS 419

Creative Industry Fund

Kickstart your dreams with the union of sustainable low-cost funding and your business goals.

The Creative Industry Funding is an initiative of the Central Bank to finance entrepreneurs in the creative and information technology space. The funding is focused on the following sub-sectors:

  • Music: 
  • Fashion
  • Movie production and distribution
  • Information technology

You can only access the fund if you have an existing business in the creative space, a start-up in the creative space or if you’re a student of higher institutions developing a software.

  • Flexible repayment structure
  • Financial support to achieve your business goals

You’ve got a bright idea? Great, you will need the following requirements to access this funding to bring your idea to life.

  • Business plan
  • Personal Guarantor 
  • The proposed source of repayment 
  • At least three referrals from a recognised body, sponsor or association
  • At least three years of relevant experience 
  • Evidence of Legal Mortgage 
  • Evidence of asset debenture 
  • Minimum equity contribution – 20% – 30%

 

  • Walk into any union bank branch  
  • The relationship officers explain the documentation process for your application
  • Your bank will discuss your request and provide you with the money in due time.
  •  The maximum interest rate for all loans is 9.0% per annum (all charges inclusive)
  •  The period for repaying the loan is as follows: 
  1.  A maximum of three years for the Software Engineering Student Loan
  2. A maximum of ten years for Fashion, Movie Production and Distribution and Music

 

Click here to apply for this loan. Click here for more information