The Central Bank of Nigeria is giving collateral-free loans of up to N3,000,000 (Three million Naira) to small businesses in a scheme called; Agric-Business/Small and Medium Enterprises Investment Scheme (AGSMEIS). The sum of 66.72 Billion Naira has been disbursed under AGSMEIS to 17,624 beneficiaries as of October 30, 2020.
𝐇𝐞𝐫𝐞 𝐚𝐫𝐞 𝐞𝐥𝐢𝐠𝐢𝐛𝐥𝐞 𝐒𝐞𝐜𝐭𝐨𝐫𝐬 𝐚𝐧𝐝 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬𝐞𝐬 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐍𝟑,𝟎𝟎𝟎,𝟎𝟎𝟎 𝐜𝐨𝐥𝐥𝐚𝐭𝐞𝐫𝐚𝐥-𝐟𝐫𝐞𝐞 𝐂𝐁𝐍 𝐀𝐆𝐒𝐌𝐄𝐈𝐒 𝐥𝐨𝐚𝐧
- Agriculture & Agro-allied Processing
- Art & Entertainment
- Automobile Services
- Fashion and Dressmaking
- Catering & Event Management
- Courier & Delivery Services
- Creative Industry
- Apparels and Textiles
- I.C.T
- Cottage Industry
- Media
- Publishing
- Telecommunications
- Hospitality
- Health Services
- Welding and fabrication
- Animal Husbandry
- Cosmetics, Beauty and Makeup Artistry
- Electrical and Electronics
- POP and Tiling
- Carpentry
- Masonry
- Kerbs and Electric Pole making 𝐇OW TO APPLY
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:
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.
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.
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).
- To apply for N500,000 Non-Interest Targeted Credit Facility [Household], click https://nibloans.nmfb.com.ng/noninterestlendingtcfhousehold
- 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://bitly.com/tenloan
Mazi Nwokwu Solomon Chukwuemeka reporting, Obinwannem News reporter September 24, 2021