💰 Ways to Fund This
National MSME Awards Grant (FG "Renewed Hope for MSMEs")
₦100,000–₦5,000,000
Grant
Registered or registering Nigerian MSME (CAC registration usually required or fast-tracked). Application windows open periodically, not year-round.
📊 Non-repayable grant — no interest, no repayment.
SMEDAN Programmes (free registration, training, grant windows)
₦0–₦3,000,000
Government Fund
Nigerian-owned micro or small business. Free CAC business name registration via the CAC-SMEDAN partnership is a common entry point.
📊 Varies by scheme — many components are free or grant-based; some link to subsidized loans.
NIRSAL Microfinance Bank — AGSMEIS (Agri-Business/SME Investment Scheme)
₦500,000–₦10,000,000
Microloan
Nigerian SME or agribusiness owner; must complete a NIRSAL-approved Entrepreneurship Development Institute (EDI) training and get a completion certificate before disbursement.
📊 9% per annum interest (non-interest/Sharia-compliant option also available) — well below commercial or fintech rates. Up to 18-month moratorium before repayment starts.
NIRSAL Microfinance Bank — Targeted Credit Facility (TCF)
₦50,000–₦25,000,000
Microloan
Nigerian household, micro-enterprise, or small business; originally COVID-era, has continued as a general SME/household facility — confirm current status before applying.
📊 5% per annum interest — among the cheapest business credit available in Nigeria.
⚠️ Informational only — not financial advice. Confirm current terms directly with each provider before applying, and borrow only what you can repay.