This post contains Requirements to get CBN Nexit Entrepreneurship Loan and how to write Business Plan for Nexit Loan. This article is specifically for Npower Exited Applicants who has indicated interest and were shortlisted for 3,000,000 CBN loan.
Here I will be discussing about Requirements to get CBN Nexit Entrepreneurship Loan and how to write Business Plan for Nexit Loan, for 3,000,000 CBN loan disbursements to exited beneficiaries will undergo processes after training, towards the end, I will list out all the Requirements to get CBN Nexit Entrepreneurship Loan and how you can write Business Plan for Nexit Loan successfully.
Requirements/Qualifications to get CBN Nexit Entrepreneurship Loan
The Federal Government CBN Nexit Entrepreneurship Loan is not for every exited npower batch A and B beneficiaries, it is only for npower batch A and B beneficiaries who has indicated interest and has confirmed their availability for CBN Nexit Entrepreneurship Loan training at various entrepreneurship development institutes across 36 states in Nigeria.
The management of the Nexit programme has said that qualified Nexit applicants can get up to 3,000,000 CNB entrepreneurship loan.
Below are Qualifications to get CBN Nexit Entrepreneurship Loan:
- Beneficiary need to be an exited Npower batch A and B volunteers
- You are not tided to other CBN loan obligation
- Beneficiaries must attended the Nexit training
- Npower batch A and B Beneficiaries must have a business plan
How to write Business Plan for Nexit Loan
You need to layout a business plan, a written roadmap for your business from marketing, financial, and operational standpoints. That is why Nexit applicants who are undergoing Nexit training are being asked to fill out the Npower business plan form.
If you can recall, one of CBN loan schemes like the National Youth investment fund NYIF programme, qualified applicants were asked to submit a business plan and also attend training before they are qualified for the loan.
Your business plan needs to cover 6 essential topics listed below:
- Executive Summary
- Company and management Summary
- Financial plan
Template to write a simple business plan
- BUSINESS IDEA:
What is your big idea? Is it a product or a service? What makes your idea different? How will your products/services stand out from the competition? Why will people want to buy your product?
- BUSINESS NAME:
What does the name say about your business? Is it unique? Memorable? Easy to pronounce?
- TARGET MARKET AND DEMOGRAPIHNCS:
Who will your customers be? Other Kids? Teenagers? Men? Women? Where do they live? What is your target market passionate about?
How well you get the word out about your business? Online? Posters? Through the Newspaper? By Email? Where will you sell your products or services?
How much will you charge? What are your competitors charging?
How much will you make on each sale after you subtract your expenses? Profit-income-Expenses? The sale price of the item, cost of the item, Profit? What will you do with the money you make? Reinvest in the business?
The major reasons why you need a business plan for the CBN Nexit loan is that CBN the loan Lender will need a written document that describes in detail an overview of your business or a startup and how you define its objectives and how you are to go about achieving its goals.