NEXIM N10bn Fund For Women and Youth Businesses – WAYEF Fund Application Form Portal

NEXIM N10bn Fund For Women and Youth Businesses – WAYEF Fund Application Form Portal

Have you heard of NEXIM N10bn Fund For Women and Youth Businesses? Would you like to know how to apply? Are you looking for WAYEF fund application form? Are you searching to know more about the WAYEF  application process? Would you like to know the requirements to apply for WAYEF fund?

In this post, you will find all the information you need regarding the Women and Youth Export Facility(WAYEF) N10bn fund created by the Nigerian Export-Import Bank(NEXIM) including the requirements to apply for this fund, who is eligible to apply, and the application form to complete your application.

What is WAYEF?

WAYEF is an acronym for Women and Youth Export Facility created by the Nigerian Export-Import Bank(NEXIM). The Women and Youth Export Facility is designed to support Women and Youth in the non-oil exports value-chain.

The intention of the WAYEF is to stimulate and increase deliberate funding to Women and Youth (between the ages of 18 to 35 years) towards broadening Nigeria’s export basket and facilitating regional industrialization for value-added exports.

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Aims of the WAYEF Fund

The major aim/ objectives of this project are;

• To improve access of Women and Youth exporters to concessionary finance in a bid to
  expand and diversify the non-oil export baskets.
• To revamp/ resuscitate small and medium enterprises that are export-oriented to
  create and sustain more jobs for Women and Youth within the non-oil export sector in
  Nigeria.
• To support Women and Youth to upscale and expand export operational capacities and
  upgrade production systems.
• To diversify and increase the level of contribution of non-oil export revenue and value-added exports for sustainable economic development.
• To broaden the scope of export financing instruments and to complement other non-oil export financing schemes.

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Who Is Eligible to Apply for NEXIM N10bn WAYEF Fund?

The following categories of people/ businesses are eligible to apply for this funding opportunity.

• Duly registered/incorporated Export Oriented Small and Medium Enterprises in
  Nigeria with Women or Youth as Promoters.
• Structured Non-Governmental Organizations with the mandate to empower Women
  or Youth in business development.
• Registered Co-operative societies for Women or Youth.
• Trade Associations for Women or Youth

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Eligible Projects for NEXIM N10bn Fund

This fund can be used to power the following types of project;

• Projects or Transactions in the non-oil export sectors that impact Women and Youth
  employment.
• Projects with a deliberate focus on Women and Youth empowerment programs in the
  export value chain.
• Transactions connected with the export of goods wholly or partly processed/
  manufactured in Nigeria.

Interest Rate for NEXIM N10bn WAYEF Fund

Since this is not a grant, the interest rate for this loan is 5%(five percent) in the first year and a maximum of 9%(nine percent) per year.

The Moratorium period allowed is three (3) months on Principal repayment for Working Capital and twelve (12) months for Project Finance.

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List of Required Documents to Apply for this Fund

Interested applicants are to make the following documents available to be eligible;

• 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

Steps to Get the Fund

1. Submission of application forms and other required documents to NEXIM
2. NEXIM appraises the application.
3. NEXIM disburses the Facility upon fulfillment of all conditions precedent to drawdown.

How to Apply for NEXIM N10bn Fund

Interested and eligible persons are to download and complete the application form which can be found here, complete it and submit the same for further procedures.

All inquiries and returns should be addressed to:
The Managing Director
Nigerian Export & Import Bank
NEXIM House Abuja Central Business District Abuja

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