CBN Non-Interest & Collateral-Free Targeted Credit Facility For Nigerians

 𝐁𝐑𝐄𝐀𝐊𝐈𝐍𝐆: 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. 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, see more details and how to apply through an EDI at https://bit.ly/3AjBijY

Kindly Click  Here to Join Our WhatsApp Group Media at https://chat.whatsapp.com/F9cba0BxHWjGmZ916WvYP8  for live questions and answers session this weekend regarding these new CBN credit facilities.