Home » Apply for NMFB Loan – Access up to 3 Million Naira CBN Loan, No Collateral

Apply for NMFB Loan – Access up to 3 Million Naira CBN Loan, No Collateral

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

Eligible sectors/businesses

  • Agriculture & Agro-allied Processing
  • Art & Entertainment
  • Automobile Services
  • Fashion and Dressmaking
  • Catering & Event Management
  • Courier & Delivery Services
  • Creative Industry
  • Apparels and Textiles
  • I.C.T
  • Cottage Industry
  • Media
  • Publishing
  • Telecommunications
  • Hospitality
  • Health Services
  • Welding and fabrication
  • Animal Husbandry
  • Cosmetics, Beauty, and Makeup Artistry
  • Electrical and Electronics
  • POP and Tiling
  • Carpentry
  • Masonry
  • 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: Up to N3,000,000
  • Interest: 5% per annum for regular and 0% for non-interest AGSMEIS
  • Tenor: Up to 7 years (depending on nature/gestation period of the project)
  • Moratorium: Maximum of 18 months for principal and 6 months on interest.

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

  • Interested Applicants must undergo training by a CBN-certified Entrepreneurship Development Institution (EDI)
  • Interested Applicants will apply for the loan through the CBN-accredited EDI
  • The application will then be sent to CBN through NIRSAL MFB by the EDI, for processing.
  • Those qualified will be contacted and given the loan.
  • Fill clearly the form with all the details required, sign it, and get them authenticated by the EDI.

Requirements either during the application or before final approval/disbursement

  • BVN
  • Certificate issued by a CBN-certified EDI
  • Details of two (2) Guarantors
  • Valid ID card
  • A Business Plan provided by the EDI
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How to Apply

Interested individuals should Click here to Apply

Choose if you are a new or existing applicant

Enter your BVN in the next step and validate it

Once validated, check if your details validated are correct before proceeding to the fourth step

Carefully fill out the form and then hit the submit button.

Note: You should receive an activation email / SMS once your application has been successfully submitted.

Follow the link sent to your e-mail or SMS to complete the next step.

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