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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
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- 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.
- 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.
- While the application for the non-interest TCF of N500,000 or N750,000 has no special requirements, application for the regular and Non-interest AGSMEIS of N3,000,000 requires applicants to undergo compulsory short business training, certification and business plan from CBN approved Enterprise Development Institutes (EDIs).
- To apply for N500,000 Non-Interest Targeted Credit Facility [Household], click https://nibloans.nmfb.com.ng/noninterestlendingtcfhousehold
- To apply for N750,000 Non-Interest Targeted Credit Facility [SME], click https://nibloans.nmfb.com.ng/noninterestlendingtcfsme
Our Non-Interest Facilities to SMEs will assist you in the process of building a businesses or expanding an existing business, and maintaining your lifestyle.
Product Name: Non-Interest Targeted Credit Facility (TCF-NI)
Facility Type: Term Credit Facility
Maximum Facility Amount: SME: N750,000.00
Profit margin: 9%
Maximum Payment Period: 36 months
Global Standing Instruction: In case you default, payments will be recovered from your accounts. Note that you must accept this as part of the offer letter.
Application Process: The process of the application will take place in three distinct phases:
Phase 1: Application for Financing
Apply for the TCF-NI facility by providing relevant personal information and the business to be finance.
Phase 2: Acceptance of Offer and other Agreements
You will be notified when your application is approved and required to do the following:
- Generate the Offer Letter and accept it
- Generate the Undertaking to Buy Agreement and accept it
- Input the details of the items to be financed. This must conform with the approved amount as shown on your offer letter.
- You will finally attach invoices for all the items to be financed.
Phase 3: Taking delivery and Execution of Murabahah Agreement
Upon fulfillment of Phase 2, wait for the disbursement of funds to the proposed vendor. The funds will be used to purchase equipment and raw materials from the vendor. Either NMFB or you as its agent will then be assigned to take delivery of the assets. After taking delivery, you will be required to execute the murabahah agreement on the final stage of the contract.
TCF-NI CREDIT APPLICATION [HOUSEHOLDS]
Product Name: Non-Interest Targeted Credit Facility (TCF-NI)
Facility Type: Term Credit Facility
Maximum Facility Amount: Household: N500,000.00
Profit margin: 9% per annum
Maximum Payment Period: 36 months
Global Standing Instruction: In case you default, payments will be recovered from your accounts. Note that you must accept this as part of the offer letter.
Application Process: The process of the application will take place in three distinct phases:
Phase 1: Application for Financing
Apply for the TCF-NI facility by providing relevant personal information and the business to be finance.
Phase 2: Acceptance of Offer and other Agreements
You will be notified when your application is approved and required to do the following:
- Generate the Offer Letter and accept it
- Generate the Undertaking to Buy Agreement and accept it
- Input the details of the items to be financed. This must conform with the approved amount as shown on your offer letter.
- You will finally attach invoices for all the items to be financed.
Phase 3: Taking delivery and Execution of Murabahah Agreement
Upon fulfillment of Phase 2, wait for the disbursement of funds to the proposed vendor. The funds will be used to purchase equipment and raw materials from the vendor. Either NMFB or you as its agent will then be assigned to take delivery of the assets. After taking delivery, you will be required to execute the murabahah agreement on the final stage of the contract.
Apply hereΒ https://nibloans.nmfb.com.ng/nmfbloanapplicationportal
As a leading business development service provider in Nigeria, Dayo Adetiloye Business Hub has been recognized and certified by Small and Medium Enterprise Development Agency of Nigeria (SMEDAN) in Conjunction with Enterprise Development Centre (EDC), Pan-Atlantic University (PAU) of the Lagos Business School (LBS).
Our solutions are designed for MSMEs and are supported by deep insight into various industries and extensive experience acquired from over the years by supporting our clients as partners in their business transformation.
Through our services and business activities, we help individuals/entrepreneurs transform their business ideas into a business venture, and support existing business to scale or expand their operation. We also connect startups and MSMEs with opportunities and resources for their business growth.
We have Consulted for more than 5000 MSMEs in the last 6 years in various industry including Agro-processing, Consulting, Training and Education, Financial Services, Waste Management, Renewable Energy, Oil and Gas, Construction, Real Estate, FMCG, Digital Marketing, Personal Branding etc.
Our Vision:
To become the leading grassroot business Hub that provides Business
Development Services in the global online community
Mission Statement:
- Provide bespoke management and business planning consultancy
- To connect MSMEs with opportunities and resources for their business startup, growth and expansion through trainings, seminars, coaching, consulting, mentoring, and Angel investing.
- To inspire, empower and champion entrepreneurship in the global online community.
Business Goals and Objective
- Engender national prosperity by contributing to the creation of at least 100 new businesses every year
- Become a go-to brand for outstanding business development services for MSMEs
- Strategic partnership with local and international organization to empower start-ups
- Continuous innovation to serve our clients better
Core Values:
Integrity
Opportunity Maximization
Digitalization
Personal Development (Capacity Building)
Excellent Customer Satisfaction
Timeliness
- Apply For Dayo Adetiloye Leadership and Entrepreneurship Fellowship (DALEF) (2021) Cohort 2. - October 13, 2021
- ENERGY AND SUSTAINABILITY BUSINESS PLAN IN NIGERIA - October 4, 2021
- TRANSPORTATION AND LOGISTICS BUSINESS PLAN IN NIGERIA - October 4, 2021
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