Ondo State CBN Creative Industry Financing Initiative (CIFI) Loan Scheme
The Creative Industry Financing Initiative (CIFI) is a loan scheme developed in collaboration with the Central Bank of Nigeria (CBN) to provide access to long term and low interest financing for entrepreneurs in the creative industry such as, Fashion, Music, Movies, Gaming, Information Technology, and others.
To achieve this vision, Envivo Communications has partnered with CBN to run internship programs and all interns have to apply for the loan scheme to participate in any of these programs.
As part of the program interns are mentored and taken through an incubation process leading to a tech venture or solution that will be taken to market. These ventures will also be seed funded through another CBN loan, under the AGSMEIS program.
WHAT IS THE DURATION OF THE INTERNSHIP
The internship period is broken down into three parts
- Training (6 months)
- Mentorship and Ideation (3 months
- Incubation, Development and Go to Market – 2 years.
When do I have to pay the loan back?
- Start a venture which would be funded by AGSMEIS and your loan will be
repaid from your funding.
- You would be placed on projects internally or externally where you will earn income and repayment would be deducted from your income.
Is it compulsory to take employment offer by Envivo?
Can I still work and take on the internship?
Is the Internship program offline and online?
Do we get paid during the internship?
Why do I need to submit my certificate?
What happens if the need arises for personal use of my certificate?
Can I withdraw from the Internship?
- Payment of N20,000.00k Administration Fee
- Refund all allowances collected to date of withdrawal
- Pay for any registered courses
- Payment for device (laptop or Note)
If the intern decides to withdraw after loan disbursement then they must repay the loan fully prior to withdrawal and collection of original documents