The Central Bank of Nigeria (CBN) in its bid to ensure that businesses across all sectors of the country economy sustain their operations aftermath the COVID-19 pandemic, introduced several loan opportunities and fund interventions. See below the detailed list of these CBN Loans and how to access them;
- AGSMEIS Loan For SME’S And Agricultural Businesses Without Collateral
- Anchor Borrowers Programme (ABP) Intervention For Agriculture
- Accelerated Agricultural Development Scheme (AADS Loan)
- MSMEDF Loan – Micro, Small and Medium Enterprises Development Fund
- Creative Industry Financing Initiative (CIFI Loan)
- CBN Healthcare Research And Development Grants
1. CBN AGSMEIS LOAN FOR SME’S AND AGRICULTURAL BUSINESSES WITHOUT COLLATERAL – The Central Bank of Nigeria (CBN) and the Bankers’ Committee, created the Agri-Business/Small and Medium Enterprise Investment Scheme AGSMEIS Loan, as an initiative to support the Federal Government’s efforts in the promotion of agricultural businesses and small/medium enterprises (SMEs) in the country, you can apply for the Loan with collateral for the AGSMEIS loan is been disbursed by NIRSAL Microfinance Bank and other Banks. Interested Nigerian engaged in Agriculture or other SME businesses can access up to N10 Million from the AGSMEIS Loan, at a single-digit interest rate of 9% per annum. Click CBN AGSMEIS Loan for the requirements and application process.
2. CBN ANCHOR BORROWERS PROGRAMME (ABP) INTERVENTION FOR AGRICULTURE – The Anchor Borrowers Programme (ABP), is an initiative of the Central Bank of Nigeria (CBN) for the agricultural sector, it is in line with its developmental function of the apex bank.
The loan shall be targeted at smallholder farmers engaged in the production of identified commodities across the country. The Farmers should be in groups/cooperative(s) of between 5 and 20 for ease of administration.
The ABP is not solely for farmers, businesses can also apply to become the Anchor (private large-scale integrated processors) and Inputs Suppliers. Click Anchor Borrowers Programme to read more about the programme.
3. CBN NON-INTEREST ACCELERATED AGRICULTURAL DEVELOPMENT SCHEME (AADS Loan) – The objective of the Accelerated Agricultural Development Scheme (AADS) scheme according to CBN, is to engage a minimum of 370,000 youths in agricultural production across the country over the next three years in order to reduce unemployment among the youths in the country and increase agricultural production towards food security, job creation, and economic diversification. The beneficiary must be a Nigerian youth with the ages of 18 to 35 years and must sign an undertaking to abide by the terms of agreement of the Scheme – Read more on Accelerated Agricultural Development Scheme (AADS)
4. CBN MSMEDF LOAN – MICRO, SMALL AND MEDIUM ENTERPRISES DEVELOPMENT FUND – After identifying the huge financing gap which hinders the development of MSMEs, the Central Bank of Nigeria (CBN) as part of its developmental role and mandate of promoting a sound financial system launched the Micro, Small and Medium Enterprises Development Fund – Read more about CBN MSMEDF Loan.
Eligible Enterprises In line with the provisions of the Revised Microfinance Policy, Regulatory and Supervisory Framework for Nigeria, enterprises to be funded under the Scheme shall be:
a) Micro Enterprises
b) Small and Medium Enterprises (SMEs)
The following are eligible activities under the Fund: Microenterprises
● Agricultural value chain
● Cottage Industries
● Renewable energy/energy efficient product and technologies
● Trade and general commerce
● Other economic activities as may be prescribed by the CBN
5. CBN LOAN FOR THE CREATIVE INDUSTRY FINANCING INITIATIVE (CREATIVE INDUSTRY LOAN) – The Central Bank of Nigeria (CBN) in collaboration with the Bankers’ Committee developed a Creative Industry Financing Initiative (CIFI), also known as Creative Industry loan to boost job creation in Nigeria, especially among young people, who are the most active in the creative industry. The aim according to CBN, is to improve access to long-term low-cost financing for entrepreneurs and investors in the Nigerian creative and information technology (IT) sub-sectors. Read more about CBN Creative Industry Financing Initiative
6. CBN GUIDELINES ON HOW TO ACCESS HEALTHCARE RESEARCH AND DEVELOPMENT GRANTS – The Central Bank of Nigeria (CBN) has released the guidelines for interested candidates to access funds under the Healthcare Sector Research and Development Intervention Scheme (HSRDIS) grant. The Healthcare Research And Development Grant, according to CBN, aims to strengthen the public healthcare system with innovative financing of research and development (R&D) in new and improved drugs, vaccines and diagnostics of infectious diseases in Nigeria and is accessible to biotechnological and pharmaceutical companies, institutions, researchers, and research institutes for the research and development of drugs, herbal medicines, and vaccines for the control, prevention, and treatment of infectious diseases. Download Healthcare RnD Intervention Full Guidelines