What You Need To Understand in New Nirsal-CBN N500k, N750k & N3M Non-Interest And Collateral-Free Targeted Credit Facilities (TCF)

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Targeted Credit Facilities – It is no longer News that Nirsal has reopened portal for fresh Non-interest and Non-Collateral loan.

You will recall that early in 2021, the Central Bank of Nigeria in collaboration with Nirsal Microfinance Bank jointly invites application from suitably qualified Nigerians to apply for COVID-19 Loan.

The application was greeted with many of such from Nigerians across the 36 states ND the federal capital territory (FCT). There was a previous application in 2020 as COVID-19 pandemic activities slide down. The gesture was to help small scale businesses and other micro businesses to back alive after post COVID-19.

Targeted Credit Facilities – Call For New Application

A fresh application has just be opened by Nirsal after the second application closed. The fresh application is for N500,000 , N750,000 and N3 million Interest-free and Collateral-free Targeted Credit Facilities (TCF).

Also Read: Nirsal Loan – A Guide To Apply & Receive Loan Without Delay

Beneficiaries of the Non-interest and Collateral-free Targeted Credit Facilities TCF will receive the sum above once Nirsal Microfinance Bank begins disbursement.

Targeted Credit Facilities – How To Apply

The targeted credit Facilities TCF are in three categories. They includes the below

Targeted Credit Facilities – Non-interest TCF

 The Central Bank of Nigeria has introduced a N50 billion Non-interest targeted credit Facilities to support household and Micro and Small Enterprise (MSEs) in Nigeria.

.Loan Amount: The amount is between N500,000 and N750,000

. Moratorium: Loan moratorium is up to 12 months

. Tenor: Up to 36 months

Also Read: CBN/Nirsal Issues Notice To COVID-19 Loan Applicants

Targeted Credit Facilities – Non-interest AGSMEI

This loan offer is meant for traders dealings in foodstuffs, allies products, building materials etc.

. Loan Amount: Loan is up to N3,000,000

. Moratorium: The moratorium is sets at 12 months

. Tenors: The tenor is up to 36 months

Targeted Credit Facilities – Eligibility Status

. Beneficiaries of TCF COVID-19 are not eligible for new Non-interest TCF. But such beneficiaries can benefit from Non-interest AGSMEI worth N3 million.

. If you have already benefited from ordinary AGSMEI, you’re not eligible for AGSMEI Non-interest loan. However, you can apply for Non-interest TCF

. The Non-interest TCF requires no special training. However, the Non-interest AGSMEI requires applicants to undergo mandatory but short business training.

. This can be done at Certification and business plan from approved Central Bank of Nigeria (CBN) approved Enterprise Development Institutes (EDI).

Targeted Credit Facilities

How To Apply

Interested persons can apply by clicking here and should endeavour to submit necessary details


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