The Katsina State Enterprise Development Agency (KASEDA) has clarified the process for its Interest-Free Loan, reminding applicants that being shortlisted does not mean final approval.
In a statement, the agency said it understands that many applicants get excited once they see their names on the shortlisted list, “but it’s important to understand that shortlisting is not the final stage.”
KASEDA explained that the first step is application and shortlisting. Business owners apply for the KASEDA Interest-Free Loan, and after the application round closes, entries are reviewed based on set criteria. Successful applicants are then shortlisted, and their names are forwarded to a financial institution for verification.
The agency noted that the second stage involves bank verification and documentation. Once the list is submitted to a financial institution such as the Bank of Industry, the bank begins its own checks. This includes documentation, reviewing credit history, verifying guarantors, and assessing the viability of the business.
According to KASEDA, “Only applicants who successfully pass this verification stage will be contacted to return to the bank to sign the offer letter before disbursement.”
It added that applicants who have completed documentation but have not yet appeared on the verified list should remain patient. “It may mean your verification is still in process, you may be contacted for clarification, or you may receive guidance on the next steps,” the agency stated.
KASEDA said it remains committed to transparency and fairness throughout the process and thanked applicants for their patience and cooperation.
