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
- Health Services
- Welding and fabrication
- Animal Husbandry
- Cosmetics, Beauty, and Makeup Artistry
- Electrical and Electronics
- POP and Tiling
- 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
- 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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