How to Apply for new CBN N500,000 N750,000 and N3,000,000 Non-Interest Loan

How to Apply for new CBN N500,000 N750,000 and N3,000,000 Non-Interest and Collateral-free Targeted Credit Facilites

𝟏) 𝐍𝐎𝐍-𝐈𝐍𝐓𝐄𝐑𝐄𝐒𝐓 𝐓𝐂𝐅
The CBN has introduced a 50 Billion Naira Non-Interest Targeted Credit Facility to support Households and MSEs in Nigeria.

Loan Amount: N500,000 and N750,000
Moratorium: Up to 12 Months
Tenor: Up to 36 Months

𝟐) 𝐍𝐎𝐍-𝐈𝐍𝐓𝐄𝐑𝐄𝐒𝐓 𝐀𝐆𝐒𝐌𝐄𝐈𝐒
The Non-Interest AGSMEIS Traders dealing in foodstuff, electronics, allied products, computers/phones, spare parts, building material, transportation, etc.

Loan Amount: Up to N3,000,000
Moratorium: Up to 12 Months
Tenor: Up to 36 Months

𝐍𝐨𝐭𝐞:
1. If you have benefited from the COVID-19 TCF, you’re not eligible for the new non-interest TCF. However, you are eligible to apply for the Non-interest AGSMEIS of N3,000,000.

2. If you have already benefited from the regular AGSMEIS programme, you are also not eligible to apply for the new non-interest AGSMEIS. However, you can apply for the non-interest TCF of N500,000 or N750,000.

3. While the application for the non-interest TCF of N500,000 or N750,000 has no special requirements, application for the regular and Non-interest AGSMEIS of N3,000,000 requires applicants to undergo compulsory short business training, certification and business plan from CBN approved Enterprise Development Institutes (EDIs).

4. To apply for N500,000 Non-Interest Targeted Credit Facility [Household], click https://nibloans.nmfb.com.ng/noninterestlendingtcfhousehold

5. To apply for N750,000 Non-Interest Targeted Credit Facility [SME], click https://nibloans.nmfb.com.ng/noninterestlendingtcfsme

For the N3,000,000 Non-Interest and collateral-free AGSMEIS facility. Apply here: https://nibloans.nmfb.com.ng/agsmeisnoninterestlending