How To Apply For CBN Non-Interest Loan (Household, SMEs and AGSMEIS) 2021

The Central Bank of Nigeria (CBN) recently approved a Non-interest facility loan and now opened the application portal for households, SMEs and AGSMEIS under NIRSAL Micro Finance Bank.

As earlier mentioned, interested applicant can go for any of the suitable option – households, SMEs and AGSMEIS.


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.

The financing limit is N2,500,000.00 for a tenure of 3 years with 6 months moratorium (a moratorium is a grace period of granted to the customer by the Bank to postpone the payment).


The Non-Interest Agri-Business, Small and Medium Enterprise Investment Scheme (AGSMEIS-NI) is a federal government intervention funding scheme through CBN that is intended to promote agricultural businesses to spur economic development and employment generation in the country.

The non-interest product is an alternative of the existing AGSMEIS program that is based on Islamic principles of financial transactions using products such as murabahah and ijarah. It is a term financing specifically introduced for financing of equipment, raw materials and working capital.

The financing limit is N10,000,000.00 for a tenor of up to 7 years (depending on the nature/gestation period of the project). Applicants may in addition enjoy a moratorium of 6 months for mark-up and 18 months for the principal (a moratorium is a grace period of granted to the customer by the Bank to postpone the payment).

Currently, the CBN Loan Application portal is open for entry and thousands of applicants have already applied.

In this article, you are going to learn how to apply for the CBN COVID 19 Loan 2021 for Household and SME.

Firstly, we would like to look at the type of business that is acceptable, kindly note that the industries listed below are not limited and should not be weary if your industry is not listed.

Requirements for the CBN Non-Interest Facilities Loan

Listed below are the requirements for the CBN COVID 19 Loan application for SMEs

  • Registered business with CAC
  • BVN

How To Apply For CBN Non-Interest Facility Loan

Below are steps you should take to apply for the CBN COVID 19 Loan 2021.

1: Firstly, visit NIRSAL microfinance website

How To Apply For CBN NIRSAL Non Interest Facilities Loan 1 1

2: Click on the Apply for “Non-Interest Facility”. When you click on that, it give you two options like this; “NON-INTEREST TCF” and “NON_INTEREST AGSMEIS“.

How To Apply For CBN NIRSAL Non Interest Facilities Loan 11 1

3: Under the “NON-INTEREST TCF” tab, you will get two options – Household facility and SME facility. Click on what suits your need and proceed.

How To Apply For CBN NIRSAL Non Interest Facilities Loan 2 1

4: Pick your choice and proceed. After picking your choice, STEP 1 will ask if you are a New or Returning applicant. Select New if this is your first time.

5: Then, enter your BVN which automatically populate some of your details. And fill the rest that is required. As you continue with the registration, you will be asked to list out your needs, quantities and their price. Upon successful registration, you are supposed to get a congratulatory message for successful application.

Note: If you have registered your company with CAC, you can go for the second row (“APPLY FOR SME FACILITY (NON INTEREST)”). The major difference between the Household and SME is company’s information from TIN number, CAC and all related information

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