CBN Non-Interest Loan Application Portal & How To Apply

CBN Non-Interest Loan Application Portal: In this post, we shall be sharing with you how to apply for cbn non interest loan and the direct Link to Access up to 3 Million Naira.

The Central Bank of Nigeria is currently providing unsecured loans (collateral-free loan) of up to N3,000,000 (three million Naira) to small businesses under a scheme called the Agri-Business/Small and Medium Enterprises Investment Scheme (AGSMEIS).

If you’re interested, read this guide provided by MEDIANGR and see link at the end of this article.

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Eligible sectors/businesses for CBN Non-Interest 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
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

Modalities for CBN Non-Interest Loan

Funding under the Scheme must be for start-ups, business expansion or revitalization of struggling companies. The loan conditions will be as follows:

Loan amount: Up to N3,000,000
Interest: 5% per annum for regular and 0% for non-interest AGSMEIS
Tenor: Up to 7 years (depending on nature/gestation period of the project)
Moratorium: Maximum of 18 months for principal and 6 months on interest.

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To access the AGMEIS loan, there are some conditions that must be met:

Interested Applicants must undergo training by a CBN certified Entrepreneurship

Development Institution (EDI)

Interested Applicants will apply for the loan through the CBN accredited EDI

The application will then be sent to CBN through NIRSAL MFB by the EDI, for processing.

Those qualified will be contacted and given the loan.

Fill clearly the form with all the details required, sign, and get them authenticated by the EDI.

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Requirements either during the application or before final approval/disbursement

BVN
Certificate issued by a CBN certified EDI
Details of two (2) Guarantors
Valid ID card
A Business Plan provided by the EDI

How to Apply CBN Non-Interest Loan

Interested individuals should https://nibloans.nmfb.com.ng/agsmeisnoninterestlending?fbclid=IwAR0BYfzauOFLUDmNNWnoYRfqQwLhhI5n3E1YofmCJPulOIrV0dr_IYiUczg

Choose if you are a new or existing applicant

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