💰 Ways to Fund This
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.
Bank of Industry (BOI) — MSME & Sector-Specific Loans
₦250,000–₦10,000,000
Government Fund
Registered Nigerian business (CAC registration typically required); requirements vary by specific BOI scheme (manufacturing, women, youth, etc.).
📊 Government-subsidized rates, typically well below commercial bank rates — confirm current scheme terms.
⚠️ Informational only — not financial advice. Confirm current terms directly with each provider before applying, and borrow only what you can repay.