How to Access up to 10 Million Naira Collateral-free CBN Loan

How to Apply for New CBN N500,000, N750,000 and N3,000,000 Non-Interest and Collateral Free Targeted Credit Facilities


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The CBN has introduced a 50 Billion Naira Non-Interest Targeted Credit Facility to support Households and MSEs in Nigeria.

Loan Amount: N500,000 and N750,000
Moratorium: Up to 12 Months
Tenor: Up to 36 Months.

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The Non-Interest AGSMEIS Traders dealing in foodstuff, electronics, allied products, computers/phones, spare parts, building material, transportation, etc.

Loan Amount: Up to N3,000,000
Moratorium: Up to 12 Months
Tenor: Up to 36 Months


1. These facilities are not cash based, as the CBN will only pay approved loan amounts to their own appointed Vendors to supply you with requested items to start or support your business.

2. If you have benefited from the COVID-19 TCF, you’re not eligible for the new non-interest TCF. However, you are eligible to apply for the Non-interest AGSMEIS of N3,000,000.

3. If you have already benefited from the regular AGSMEIS programme, you are also not eligible to apply for the new non-interest AGSMEIS. However, you can apply for the non-interest TCF of N500,000 or N750,000.

4. Application for the non-interest TCF of N500,000 has no special requirements

5. Application for N750,000 requires business name, RC number and Tax Identificationnumber (TIN).

6. Application for AGSMEIS of N3,000,000 requires applicants to undergo a mandatory short business training, certification and business plan writing from CBN approved Enterprise Development Institutes (EDIs).

7. To apply for N500,000 Non-Interest Targeted Credit Facility [Household], Click HereΒ To Apply

8. To apply for N750,000 Non-Interest Targeted Credit Facility [SME], visit
Click HereΒ To Apply

9. How to Access up to 10 Million Naira Collateral-free CBN LoanΒ 

The Central Bank of Nigeria is giving collateral-free loans of up toΒ N3,000,000 (Three million Naira)Β to small businesses in a scheme called; Agric-Business/Small and Medium Enterprises Investment SchemeΒ (AGSMEIS).

The sum of 95 Billion Naira has so far been disbursed under AGSMEIS to thousands of beneficiaries.


The Scheme supports governments policy measures for the promotion of agricultural businesses, micro, small and medium enterprises (MSMEs) as vehicles for sustainable economic development and employment generation.

Objectives of the Scheme

To improve access to affordable and sustainable finance by Agri-businesses, Micro, Small and Medium Enterprises (MSMEs).
Create employment opportunities in Nigeria.
Boost the managerial capacity of agri-businesses and MSMEs to grow the enterprises into large corporate organizations in line with the Federal Government’s agenda to develop the real sector and promote inclusive growth.

Eligible sectors/businesses
1. Agriculture & Agro-allied Processing
2. Art & Entertainment
3. Automobile Services
4. Fashion and Dressmaking
5. Catering & Event Management
6. Courier & Delivery Services
7. Creative Industry
8. Apparels and Textiles
9. I.C.T
10. Cottage Industry
11. Media
12. Publishing
13. Telecommunications
14. Hospitality
15. Health Services
16. Welding and fabrication
17. Animal Husbandry
18. Cosmetics, Beauty and Makeup Artistry
19. Electrical and Electronics
20. POP and Tiling
21. Carpentry
22. Masonry
23. Kerbs and Electric Pole making


Financing under the Scheme shall be for start-ups, business expansion or revival of ailing companies. The terms of the loans shall be as follows:

Loan amount:Β Β Up to N3,000,000

Interest:Β 5% per annum for regular and 0% for noninterest AGSMEIS

Tenor:Β Up to 7 years (depending on nature/gestation period of the project)

Moratorium:Β Maximum of 18 months for principal and 6 months on interest.

To access the AGMEIS loan, there are some conditions that must be met:

1. Interested Applicants must undergo training by a CBN certified Entrepreneurship Development Institution (EDI)

2. Interested Applicants will apply for the loan through the CBN accredited EDI

3. The application will then be sent to CBN through NIRSAL MFB by the EDI, for processing.

4. Those qualified will be contacted and given the loan.

5. Fill clearly the form with all the details required, sign and get them authenticated by the EDI.

Requirements either during the application or before final approval/disbursement

1. BVN
2. Certificate issued by a CBN certified EDI
3. Details of two (2) Guarantors
4. Valid ID card
5. A Business Plan provided by the EDI

Important note:

Apart from training and certifying you, the EDI also guides and assists you in getting all necessary documents required to secure the loan, including a business plan.

The EDI shall collate, appraise and submit applications and business plans to CBN for Applicants.

EDI Fee:Β N30,000

Please note that the loan application itself is 100% FREE.Β The N30,000 fee covers compulsory Training, Writing of Business plans, other support services such as uploading your documents to the CBN portal, etc by the EDI.

You can pay your training fee to bank details below and send evidence of payment via SMS or WhatsApp to 08062623609:

Potech Integrated Services Ltd.
Access/Diamond Bank: 0028652769

After payment, you will be guided and scheduled for training and certification immediately.

Those in Abuja may visitΒ BluCoreΒ for inquiries and application processing at 16 Adetokunbo Ademola Crescent (between DSTV Headquarters & UBA), Wuse 2, Abuja. Their phone number is 08069718569.

Click here to chat on WhatsApp for more details

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