The Central Bank of Nigeria (CBN) in collaboration with the NIRSAL MICROFINANCE BANK has opened credit Application Portal for N50 Billion Non Interest Targeted Credit Facility to support Households and SMEs in the country.
The Non-Interest Targeted Credit Facility (TCF) is a stimulus package to support household and Micro, Small, and Medium Enterprise (MSMEs) affected by the COVID-19 pandemic. It is a non-interest term facility targeted at small businesses for the financing of key assets for their businesses.
The financing limit is N2,500,000.00 for a tenure of 3 years with 6 months moratorium (a moratorium is a grace period of granted to the customer by the Bank to postpone the payment).
