How to Access CBN Loan for Businesses in Nigeria

Do you need a loan from the Central Bank of Nigeria (CBN) to fund your business? If ‘yes,’ you are on the right page. In this article, we will show you how to easily access a CBN loan for businesses in Nigeria.

After sharing a post on how to apply for CBN business loans through Heritage Bank, we continued to receive messages from people complaining that the application link is not functional.

So, while we wait for Heritage Bank to activate the online loan application link, let’s explore an alternative way you can access the CBN loan for businesses. You might even prefer this alternative method to the previous one. See the list of all federal government interest-free loans.

Here, we shall look at how to access a loan from CBN for businesses in Nigeria through the Micro, Small and Medium Enterprises Development Fund (MSMEDF) program.

Business categories eligible for CBN loans

Your business must relates to any of the following field;

  • Agriculture
  • Artisan ship
  • Manufacturing
  • Cottage Industries
  • Trade and general Commerce
  • Services
  • Renewable energy/energy efficient products and technologies
  • Other income-generating projects as prescribed by the CBN

So, if your business falls within any of the above-mentioned categories, you are good to apply. You can access up to N500,000 for Micro-business, and N50 million for Small & Medium Enterprise.

Procedures 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.

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

  • Commercial Bank
  • Microfinance Banks
  • Cooperatives
  • NGO-Microfinance Institutions
  • Finance Companies
  • Development Finance Institutions, i.e. Bank of Industry and Bank of Agriculture.

3) Submit your business plan to your bank.

4) Your bank will process your request.

5) The bank will also guide you on other requirements.

Note: The maximum interest rate of 9% per year applies to the loan. Period for the repayment of the loan are 12 months for micro business, and  36 months for small and medium enterprises.

Important thing to note:

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

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

If that is the case, kindly e-mail or call CBN at, 09-46238600, 09-46238608 or 07080650000 or 07080651392.

Disclaimer: We at have nothing to do with this loan. Our job is to dispense information which we have done.

Other loan opportunities

Source: Nyscinfo

31 thoughts on “How to Access CBN Loan for Businesses in Nigeria”

  1. Sir

    Good morning, I concluded my NCE program I offer a course business education I specialized in business sir please I beg u in the of god assist to obtain the loan.

  2. Umoru Philemon

    Hello sir am a serving corps member from kogi state, l need this loan to expand my bussiness

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