The NEXIM N10 billion Fund is live again and suitably qualified applicants that wish to access this fund to start up their business are invited to make their applications now. Kindly see this page to get the full steps to apply.
The NAXIM Bank has launched the N10 billion fund for Women and Youth Export Facility (WAYEF) to boost the non-oil exports. The facility would be disbursed to small and medium entrepreneurs at a 5% interest rate in the first year of the programme and a 9% interest rate in the subsequent years.
Have you heard of NEXIM N10 billion Fund? Are you interested in knowing what it is? If your answer is yes then you are at the right page. Kindly ensure you follow this content till the end and we shall guide you properly on what to do.
The aim of this fund is to support Women and Youth in the non-oil exports value-chain. Hence the full meaning of WAYEF which stands for Women and Youth Export Facility. This was made known by the Executive Director Business Development NEXIM Bank, Mrs. Stella Okotete, during the official launch of WAYEF in Abuja.
To access this fund, applicants are to pay a non-refundable N20,000 (twenty thousand naira) application fee. Applicants are to provide an application letter, relevant incorporation letter, valid export contract or Local Purchase Orders (LPOs), audited account statement, cash flow projections and evidence of previous export performance.
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Eligibility Criteria for NEXIM N10 billion Fund
- Registered export-oriented-SMEs in Nigeria with women and youths as promoters
- A structured organisation with the mandate to empower women and youths along the export value chain or a registered export–oriented cooperative society
- Application letter, completed NEXIM Bank Application Form, Know-Your-Customer Form and Signature Mandate Cards
- Board Resolution to borrow
- Relevant incorporation/registration documents
- Valid Export Contracts/Local Purchase Orders
- Proforma Invoice(s) from a reputable supplier(s)
- Audited Account Statements and most recent Management Account Statement
- Cashflow projections and assumptions used in arriving at the projections Evidence of previous export performance (if any)
- Valid Tax Clearance Certificate
- Profile of the Company’s Directors and Management Staff
- Valid means of identification of Company Directors
- Certificate of registration with Nigerian Export Promotion Council (NEPC) Licenses/Permits from relevant agencies (where applicable)
- Any other document that may be required by NEXIM
How to Apply for WAYEF Fund 2021
These three steps outlined below will assist any applicant to make a successful application for this NEXIM N10 billion Fund for WAYEF
- Submission of application forms and other required documents to NEXIM
- NEXIM appraises the application
- NEXIM disburses the Facility upon fulfilment of all conditions precedent to draw down.
If you are qualified and interested in the NEXIM N10 billion Fund then you have to find and download the application form at the WAYEF website at www.neximbank.com.ng/women-and-youth-export-facility.
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