TERMS OF PORTAL USE
In these terms of portal use (referred to as ‘User Terms’, ‘User Agreement’ or ‘Terms of Service’), the person registering as the representative of a Company is referred to as ‘the Registrant’ and the Company being represented/registered is called ‘the Applicant’. The website https://100for100ppp.ng is referred to as the ‘the Portal’.
User Account Creation & Registration
you certify that the ID you uploaded is yours, genuine, and not expired and that you are the true representative of the Company (Applicant) whose details you have provided. And that the information provided is true, accurate, current, and complete.
To submit your loan application information and documents on this Portal, you will be required to register by creating a user account on behalf of your Company (referred to as "the Applicant"). As part of the registration process, you, the user (referred to as the Registrant) must provide your first name, last name, Company name, Company RC number, Company TIN, Identification document (scanned national ID, drivers license, or data page of international passport) to be uploaded in pdf format and create a password. You are also to provide your phone number and email address, to which we will send a verification code to confirm you are human. Kindly note that you cannot create more than one account with the same email address and phone number, and a company TIN cannot be registered twice.
When creating a user account on this Portal, you confirm that you are the true representative of the Company (Applicant) whose details you have provided. And that the information is true, accurate, current, and complete. You also certify that the uploaded ID is not expired, and it is yours and not of another person. If you breach these User Terms, your user account (as Registrant) will be suspended and your Company's loan application information and documents blacklisted from the 100 for 100 PPP Intervention Scheme, until you remedy the breach in full.
Publication Of Successful Applicants
you have consented to your name being published in national dailies should your application be approved and disbursed.
To ensure transparency, the list of successful Applicants whose loan applications have been approved and disbursed will be published in national dailies. Going by this, every Company (the Applicant) that submitted loan application information and documents on this Portal have consented to their names being published in national dailies should their application be approved and disbursed. It is important to state that limited and basic information about you will be published.
Interacting With The Portal Dashboard
you agree to maintain a dashboard on this Portal, and that the information therein will be read-only to view your application status
The Registrant on this Portal will maintain a dashboard on behalf of his/her Company (the Applicant). To access the Dashboard, the registrant must Login with the email registered on the Portal and the password created. These details will be verified via OTP sent via SMS to the phone number registered on the Portal during account creation.
On the dashboard, the registrant will be able to monitor and track the stages of loan application after his/her bank physically submit their loan application to the CBN. The loan application statuses are colour-coded on the dashboard. The colour and statuses are as follows: Application Received – Blue; Application Submitted - Brown; Application Processing - Black; Application Approved - Green; Application Declined - Red; and Loan Disbursed - Purple. Information on the dashboard is presented as-is and the Registrant cannot make any changes.
By registering/creating an account and submitting loan application information and documents, you agree to maintain a dashboard on this Portal, and that the information therein will be read-only to view your application status.
Login To The Portal
you agree that access to this portal will be granted to you once the combination of your user name (email address), password and OTP (sent as SMS to your phone number) is correct.
To access the loan application submission and document upload form, you must have been registered on the Portal, after which you will be asked to Login. You are to provide the email address you registered on the portal and enter your password to Login. After which, there will be a second-level authentication via OTP through SMS that will be sent to the phone number you registered on the portal.
Access to the portal will be granted once the combination of your email address, password, and OTP is correct. In a situation where you forget, your password, you can reset the password via the "forgot password" link.
No Fees! No Commission! No Service Charge!
you confirm that you have been informed and understand that your are not to make any payment in fees, commission or service charge regarding the submission of your loan application on this Portal
It is important to note that no payment whatsoever is required on this Portal. Payment is not a pre-requisite for any user to submit loan application information and upload documents to this Portal. No Fees, No Service Charge, and No Commission should be made. The registration to create an account and the submission of loan application information is COMPLETELY FREE.
Account Creation And Loan Application Status Notification
you agree that we send you and your bank credit officer email notifications of your loan application status every time there is a change.
After the creation of an account, a confirmation email will be sent to your registered email same also after the submission of loan application information and documents, a confirmation email will be sent to the email you registered. In addition, an email will be sent to your bank credit officer email which you provided during your loan application information submission and document upload.
To provide updates on application status, the Portal will send out notification emails at any instance of change of application status. As such by registering to create an account and submitting loan application information and documents, you agree that we send you and your bank credit officer email notifications of your loan application status every time there is a change.
Loan Application Information And Document Submission
you certify that documents uploaded are not misleading nor have they been altered in any way. In addition, you agree that your loan application had been physically submitted to your bank before submission to this Portal and that the acknowledgment document is genuine. You are also in agreement that you cannot submit more than one application until the first application is processed.
Submitting loan application information and documents to the Portal does not preclude you from applying to your bank. You are to first make a physical loan application at your bank as a pre-requisite to submitting your loan application information and documents on this Portal. After your registration and account creation, you will then have access to submit your loan application information and documents. It is important to emphasize that this process is not a loan application process, but a Notification to the CBN of the loan application you had already submitted to your bank, and for monitoring and tracking purposes. The submit loan application information and documents process has three sections: The Company Information Section, the The Loan and Bank Information Section and the Document Upload Section.
The Company Information Sectioncomprises the following fields, Company Name, Company RC Number, and Company TIN (these three fields will be auto-completed from the information you had already provided during registration and account creation). Other information to be provided in this section are the business address of the company, the State location (dropdown field), and geo-political (auto-selected based on the State location selected. The second section is the Loan and Bank Information details of the application – here you will be asked to provide information on the project type (brownfield (expansion) or greenfield (new project), loan type (term loan, working capital or term/working capital), the business sector, the sub-sector, the purpose of the loan, the name of the bank, the loan amount, the name and email of your bank credit officer and the date you submitted your loan application to your bank. The third section is the Document Upload Section, you will be required to upload three document types: CAC registration certificate, executive summary of your loan application, and a scanned and signed acknowledgment letter from your bank where you physically submitted your loan application.
You cannot submit more than one loan application information at the same time. You can submit one at a time after the processing of the first application information, then you can submit another application information. When submitting your loan information and documents on this portal, you agree that you are the true representative of the company whose details you have provided. And that the loan information provided is true, accurate, current, and complete. You also certify that documents uploaded are not misleading nor have they been altered in any way. In addition, you agree that your loan application had been physically submitted to your bank before submission to this Portal and that the acknowledgment document is genuine. If you breach these User Terms, your (registrant) account will be suspended and your application information and documents blacklisted from the 100 for 100 PPP Intervention Scheme, until you remedy the breach in full.
LIMITATION OF LIABILITY
The URL to this portal is https://100for100ppp.ng therefore the portal will not take any liability for losses arising from a user being misled by any other look-a-like website. In no way shall this Portal assume any liability arising from a user (Registrant) impersonating a company (Applicant). The portal will not take responsibility for any error in loan application information and documents uploaded. The portal will not be a party in case of dispute between two users (Registrants) or companies (Applicants) over loan application information and documents submitted on the portal.
The portal has in place a second level authentication (2FA) measure to ensure users are correctly verified but should there be a case of identity mixed-up of Registrant, the portal shall not accept any liability. The portal will not entertain or be liable for any user claim of payments made as pre-requisite for submission of loan application information and documents.
Objectives of the Initiative
The broad objective of the initiative is to reverse
the nation’s over-reliance on imports, by creating an
ecosystem that targets and supports projects with potential to transform
and catalyze the productive base of the economy. The specific objectives
i. catalyse import substitution of targeted commodities;
ii. increase local production and productivity;
iii. increase non-oil exports; and
iv. improve foreign exchange earning capacity of the economy
Key Performance Indicators
A comprehensive, regular monitoring of specific benchmarks and
key performance indicators (KPIs) under the initiative
shall be undertaken
regularly. The KPIs (specific and relevant) shall include:
i. % increase in production output of financed companies;
ii. % increase in capacity utilisation;
iii. % increase in export volume and value;
iv. % decrease in import volume and value of industrial raw materials;
v. Increase in number of jobs created.
Focal activities shall be existing businesses and
projects (brownfield) with potential to transform and
jumpstart the productive base of the economy such as:
ii. Agriculture and agro-processing
iii. Extractive Industries
iv. Petro-Chemicals and Renewable Energy
v. Healthcare and Pharmaceuticals
vi. Logistics Services and Trade-Related Infrastructure
vii. Any other activities as may be prescribed
Financial Instrument Features
Long-term loan for acquisition of plant and machinery and Working Capital
Loan amount shall be a maximum of N5 billion per obligor. Any amount above N5 billion shall require the special approval of Management.
The rate of Interest
Interest Rate under the intervention shall be at not more than 5.0% p.a. (all inclusive) up to 28th February 2022, thereafter, interest on the facility shall revert to 9% p.a. (all inclusive) effective from 1st March 2022.
Loan Tenor and Moratorium
- Term loans shall have a maximum tenor of ten (10) years depending on the complexity of the project, not exceeding 31st December 2031. Each project tenor shall be determined in relation to its cash flow and life span of the underlyingcollateral.
- Moratorium: Term loans shall have two (2) years moratorium.
- Working capital facility shall have a tenor of one (1) year with provision for roll over for a maximum of three (3) years.
- The participating financial institution (PFI) shall bear the credit risk.
- Refinancing of existing facilities allowed under the initiative, subject to Management’s approval.
The collateral acceptable under the intervention facility shall be as may be acceptable by the PFI under the RSSF-DCRR.
Repayment of Loan
Monthly interests on the facility shall be amortised and transferred quarterly with principal repayments to the CBN.
Participating Financial Institutions (PFIs)
Only CRR contributing Deposit Money Banks (DMBs) shall be eligible to participate under the initiative.
PRODUCTION EFFICIENCY & SCALABILITY
LOCAL CONTENT CAPACITY
HUMAN CAPITAL DEVELOPMENT
OPERATING SECTOR RELEVANT
CONTRIBUTION TO ECONOMIC GROWTH
|Capacity Utilisation and Scalability
|Scale of locally sourced raw materials
|Job Creation and Capacity Building
|Impact on key macroeconomic