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

 


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. These facilities are not cash-based, as the CBN will only pay approved loan amounts to their own appointed Vendors to supply you with requested items to start or support your business.


2. 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.


3. 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.


4. Application for the non-interest TCF of N500,000 has no special requirements


5. Application for N750,000 requires business name, RC number and Tax Identificationnumber (TIN).


6. Application for AGSMEIS of N3,000,000 requires applicants to undergo a mandatory short business training, certification and business plan writing from CBN approved Enterprise Development Institutes (EDIs).


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


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


9. For the N3,000,000 AGSMEIS facility, see more details and how to apply through an EDI at https://www.blucore.ng/agsmeis.html or call/WhatsApp wa.me/2348062623609 or wa.me/2348069718569

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