How to apply for new CBN N500,000, N750, 000 and N3,000,000 Non-Interested and Collateral-Free Target Credit Facilities

The Non-Interest Targeted Credit Facility (TCF) is a stimulus package to support household and Micro, Small, and Medium Enterprise (MSMEs) affected by the COVID-19 pandemic. It is a non-interest term facility targeted at small businesses for the financing of key assets for their businesses.

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