How To Access Loan From CBN In Nigeria

Today, I will show you how to access loan from CBN for your business in Nigeria.

After sharing a post on how to apply for CBN business loans through Heritage bank. Since then I have been receiving complaints from people that the link is not yet accessible.

So, while waiting for them to active the online loan application link, let’s look at the alternative method for accessing loan from CBN.

You might even prefer the alternative to the previous method.

So, we shall be looking at how to access loan from CBN for businesses in Nigeria through Micro, Small and Medium Enterprises Development Fund (MSMEDF) programme.

Business categories for CBN loans

  • Agriculture
  • Artisanship
  • Manufacturing
  • Cottage Industries
  • Trade and general Commerce
  • Services
  • Renewable energy/energy efficient products and technologies
  • Other income generating projects as may be prescribed by the CBN
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If your business falls within any of the above mentioned categories, then you are good to go.

Step by step process to access CBN loans

To access loan from the Central Bank of Nigeria (CBN), follow the procedures below.

1. Prepare your business plan or statement on how much you want for your business. You can get loan of up to;

  • N500,000 for micro-business, and
  • N50 million for Small & Medium Enterprise

2. Go to your bank or any of the following financial Institutions with your business plan or statement;

  • Commercial Banks
  • Microfinance Banks
  • Cooperatives
  • NGO-Microfinance Institutions
  • Finance Companies
  • Development Finance Institutions, i.e. Bank of Industry and Bank of Agriculture
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3. Submit your business plan to your bank

4. Your bank will process your request and provide you the money

5. Your bank will guide you on other requirements.

6. The maximum interest rate of 9% per year is applicable to all loans

7. Period for the repayment of the loan are as follows:

  • For micro business, it is a maximum of 1- year
  • For small and medium enterprises, it is a maximum of 3-year

Important things to note:

  • 60% of the fund is reserved for enterprises owned by women
  • 2% for persons living with disability, and
  • 10% for start-up businesses.

Note: There have been reports of some bank branches claiming ignorance of the loans.

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In that is the case or of you need additional information, kindly e-mail or call call CBN at
09-46238600, 09-46238608 or 07080650000 or 07080651392

Disclaimer: We at have nothing to do with this loan. Our own is to dispense information.

We advise you to always go to your bank for any loan application, and do not pay anybody during application processes.

Updated: September 12, 2019 — 8:31 am

The Author


Humphery is a life coach. He has been the Nyscinfo ambassador since 2017. He is knowledgeable enough to guide you, feel free to contact him and keep following this blog for updates.


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  1. Hello sir am a serving copper currently in osun state, I have a food processing business (table water production) that I need some money to revive. Please have tried almost all the sources for nysc cbn loan but nothing is coming out, please can you help me and get the loan?

  2. I’m Ojomo Jimoh Gbenga,a graduate of Adukunle ajasin University ondo state, I’m from ondo state but currently serving as a corps member.the fear of what to engage myself into after my NYSC program is giving me concerns, so I need this loan to start my agricultural productions. thanks

  3. Hello sir,am a currently serving my father land here in abia state,i come to noticed that fabrics are cheap here and expensive in the north.
    i intend to start the bussiness,can this kind of bussiness be accepted too?

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