shelaf logo

How to Apply for New CBN Non-Interest and Collateral-Free Loans of N500,000, N750,000, & N3,000,000

The fact that Nirsal has reopened its site for new non-interest and non-collateral loans is no longer news. You may recall that the Central Bank of Nigeria, in partnership with Nirsal Microfinance Bank, issued a joint invitation to appropriately eligible Nigerians to apply for the COVID-19 Loan in early 2021.

Many Nigerians throughout the 36 states and the federal capital territory reacted positively to the application (FCT). As COVID-19 pandemic activity wane, a previous application was made in 2020. The gesture was made to assist small and micro businesses in reviving their enterprises following COVID-19.

Nirsal has recently started a new application after the last one was closed. The new application is a 50 Billion Naira Non-Interest and Collateral-free Targeted Credit Facilities to support individuals and businesses 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

Important Notice

1. The CBN will only pay approved loan amounts to its own authorized Vendors to supply you with desired things to start or sustain your business, therefore these facilities are not cash-based.

2. You are not eligible for the new non-interest TCF if you have already benefited from the COVID-19 TCF. You are, however, eligible to apply for the N3,000,000 Non-Interest AGSMEIS.

3. You are not eligible to apply for the new non-interest AGSMEIS if you have already benefitted from the previous AGSMEIS program. You can, however, request for a TCF with no interest of N500,000 or N750,000.

4. There are no specific conditions for the non-interest TCF of N500,000 application.

5. Business name, RC number, and Tax Identification Number are required for the N750,000 application (TIN).

6. Applicants must complete a mandated short business training, certification, and business plan writing from CBN authorized Enterprise Development Institutes before applying for an AGSMEIS of N3,000,000 (EDIs).

How to Apply for the New Loan

For the N500,000 Non-Interest Targeted Credit Facility [Household], visit https://nibloans.nmfb.com.ng/noninterestlendingtcfhousehold]

For the N750,000 Non-Interest Targeted Credit Facility [SME], visit https://nibloans.nmfb.com.ng/noninterestlendingtcfsme

For the N3,000,000 AGSMEIS facility, visit https://nibloans.nmfb.com.ng/agsmeisnoninterestlending

Sheu Abdullateef Funsho
Sheu Abdullateef Funsho
I'm a certified tech expert with over a decade of experience. Serving as a Blogger, Copywriter on Fiverr and Upwork, Web Designer, Crypto Expert, Digital Marketer, and Publisher on Amazon Kindle. I'm passionate about sharing unique insights and ideas on technology and trends. Need help with any of these areas? DM me, and let's collaborate to achieve your goals with cutting-edge expertise.
Related Articles
Best-Website-to-Earn-Money-Online-for-Free
10 Best Websites To Make Money Online in 2023 For Free ($100-$300/Month)
Pen Names The Secret Weapon to Boost Your KDP Sales
Pen Names: The Secret Weapon to Boost Your KDP Sales and Dominate Your Genre
AliExpress First Order Deal
AliExpress First Order Deal: Order Goods for $0.01 (N4), Free Shipping Included
Amazon Nigeria
Amazon is expanding into Nigeria to compete with Jumia and Konga
New way of Trading Forex with a Robot
New way of Trading Forex with a Robot - Make Money While Sleeping!
Grants and Loans from the Federal Government
Grants and Loans from the Federal Government to Apply for in 2022

Leave a Comment

Your email address will not be published. Required fields are marked *

Latest Posts
Xiaomi Redmi Note 13 Series
Xiaomi Redmi Note 13 Pro: Unveiling a Flagship Memory Duo and 120W Rapid Charging
Samsung Galaxy A05
Samsung Galaxy A05 Promo Images Leak: Unveiling Colors and Key Features
Unlock 50GB of Free Data with the MyMTN App
Unlock 50GB of Free Data with the MyMTN App: Your Ultimate Guide
Google Maps Tips and Tricks
Essential Google Maps Tips and Tricks You Should Explore
Scroll to Top