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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.
The internship period is broken down into three parts
‘The loan repayment will commence after you have completed your internship program and this can be in one of two ways.
repaid from your funding.
It’s an intensive program but you can work part-time as long as you can still commit at least 6 hours of your day to the program.
The internship program not offline at all. It’s online but it’s a combination of the self-paced and live virtual classroom.
Yes. Interns will receive a stipend of N30,000 monthly for the first 9 months.
Certificates submitted will serve as collateral to the bank (CBN) for the loan collected to cover the internship program- this is why original documents are required.
If such a situation occurs where the intern needs certificates for a short term after he/she has been documented, Envivo will make the document available with an understanding in place.
If an intern decides to withdraw from the program before disbursement of the loan but after registration, they must follow the following steps
If the intern decides to withdraw after loan disbursement then they must repay the loan fully before withdrawal and collection of original documents
N1,350,000.00k (One Million, Three Hundred and Fifty Thousand Naira only)