The Central Bank of Nigeria (CBN) in partnership with NIRSAL Micro Finance Bank has grant for affected citizen to open a non interest facility loan. Basically this loan is available for families, AGSMEIS and SMEs then if you are interested citizens that’s fall into this categories, the information below will guide you on how to apply for the CBN Non-interest loan .
CBN Non-interest loan for Families/SMEs-NON-INETEREST TARGETED CREDIT FACILITY (TCF)
This Credit Facility is a enticement package to assist Nigeria families and business owners (Micro, Small, Medium Enterprises) that where negatively affected by the Covid 19 pandemic. this relief capitals is a non-interest package, the purpose is to finance the main benefit of the business until they stand firm. also support the families that’s still struggle to survive this loan will help them out to stand rigid and achieve there goals.
The financial limit for the TCF is #2,500,000.00 with a 3years ownership and a 6 month prohibition. The prohibition is the grace period that the banks permit to the customer to allow them to postpone payment.
AGSMEIS NON-INTEREST AGRO-BUSINESS, SMALL AND MEDIUM ENTERPRISES INEVSTEMENT SCHEME (AGSMEIS-NI)
AGSMEIS-NI, these means Non-interest Agro-Business for Small and Medium Enterprises Investment Scheme is a financing project by federal government, the federal government discharge this funding through CBN and focus on promoting agricultural businesses for the betterment of Nigeria. This will help to improve the economic development and promote jobs for the unemployed citizen.
An alternative to AGSMEIS is its non-interest, this legacy is based on the funding transaction fundamental of Islam and gives features like Murabaha and Ijarah ,this product are mainly designed to grow the Business and finance raw material, machines also pay for the working capital.
AGSMEIS-IN has a funding limit of the #10,000,000.00 with 7 years tendency depending on the nature of the project. As an applicant you will benefit added time of 6 month prohibition.
How to Apply for Any CBN Non-interest Loan
To apply go to https://microfinance.com/