CBN Non-Interest Loan 2023/2024 Recruitment Application Guidelines – Apply Here

CBN Non-Interest Loan 2023/2024 Recruitment Application Guidelines – The non-interest lending facility was introduced by the Central Bank of Nigeria in collaboration with NIRSAL. This loan presents a special opportunity for those who meet the requirements to access financing without the restrictions of conventional interest-based loans.

CBN Non-Interest Loan 2023/2024 Recruitment Application Guidelines

Non-Interest Loan – It is designed to support and empower Nigerian households, AGSMEIS (Agriculture Gradual and Small Business Enterprise Scheme), and MSMEs (Micro, Small and Medium Enterprises).

Here is a step-by-step tutorial on how to apply for the CBN non-interest loan in case you’re interested in learning more and are determined to be eligible.

Household / SMEs—Non-Interest Targeted Credit Facility (TCF-NI)

For Nigerian individuals and businesses, particularly the Micro, Small and Medium Enterprises (MSME) who have been severely impacted by the COVID-19 pandemic, the TCF, or Non-Interest Targeted Credit Facility, offers a ray of hope.

These grants are intended to support households that are still having financial difficulties and to give businesses the much-needed financing they need to get back on their feet.

Interested in TCF? Great! The loan has a 2.5 million NGN principal and 3-year repayment term. Additionally, a 6-month moratorium on payments gives you a useful breathing space.

AGSMEIS—Non-Interest Agri-Business, Small And Medium Enterprise Investment Scheme (AGSMEIS-NI)

The Federal Government of Nigeria launched the Non-Interest Agri-Business, Small and Medium Enterprise Investment Scheme, often known as AGSMEIS-NI, as a financial program to support the agricultural industry. The program’s objective is to give financial assistance to small and medium-sized agricultural businesses, which will ultimately result in economic expansion and employment creation. The central bank, CBN, is responsible for supervising the funding scheme’s operation and is essential in allocating funds to qualified companies.

AGSMEIS-NI is a key project that could improve Nigeria’s agriculture industry. The initiative aims to advance food security, boost productivity, and improve farmer lives by providing financial assistance to small and medium-sized agricultural businesses.

The program is open to qualified candidates from every region of the nation, including women and young people. Because of the program’s non-interest lending structure, businesses that are not qualified for conventional bank loans can access it more easily.

Beyond the well-known AGSMEIS funding program, enterprises can obtain financing through a variety of channels. The availability of non-floral items that adhere to Islamic financial transaction norms is one possibility.

These solutions offer a distinctive collection of features, like Murabaha and Ijarah, each created to satisfy the particular financial and growth needs of enterprises. These non-floral items show that there are numerous financial choices that are in line with Islamic values and promote the growth and profitability of enterprises, from procuring raw materials and equipment to gaining access to operating money.

The finance cap for AGSMEIS-N is N10,000,000.00, with a 7-year term.

Tenor (according to the project’s specific requirements). As a candidate, you are entitled to an additional moratorium of six months.

How To Apply For An Interest-Free Loan From CBN

Following are the steps to apply for a CBN Non-Interest Loan for Households and SMEs:

• Visit the NIRSAL microfinance website to get started.
• Click “Apply for Non-Interest Facility” after that. You will have two choices after tapping it. “NON-INTEREST TCF” and “NON_INTEREST AGSMEIS” are these possibilities. The “NON-INTEREST TCF” tab can be selected.
• There are two choices when you select the NON-INTEREST TCF tab: the household facility and SME facility. Select the choice that best suits your needs. After that, you can fully begin the registration process.
• If you are returning to your previous application or are just a new candidate, you will be questioned.
• Choose “New Applicant” if this is your first time applying.
• Proceed to enter your BVN after that. Some of your information will be generated automatically by this. With your other information, fill in the blank fields that are required.

You ought to get a notice congratulating you on submitting a successful application if it is. Also choose the SME facility if your company is one that is registered with CAC. Only need the CAC registration details and your company’s TIN number.

How you will be updated regularly

• Kindly subscribe to the site using your Email address for FREE
• LIKE our Facebook information page for updates
• FOLLOW our Twitter News Handle for updates
• For questions and challenges, Click Here and Comment Below

Read More: CBN Foreign Exchange Price Verification System Portal: Link for CBN Foreign Price Checker