TARGETED CREDIT FACILITY (TCF)
Development Finance | Agriculture | Manufacturing | MSMEs | Health | Energy/Infrastructure | Financial Inclusion | National Collateral Registry | Export
The Central Bank of Nigeria (CBN) introduced the TCF in March 2020 as a stimulus package to support households and micro, small and medium enterprises (MSMEs) affected by the COVID-19 pandemic.
Objectives
- Cushion the adverse effects of COVID-19 on households and MSMEs
- Stimulate credit to MSMEs to expand their productive capacity through equipment upgrade, research and development.
Managing Agent
The participating financial institution (PFI) for the Scheme is NIRSAL Microfinance Bank (NMFB).
How To Apply
FAQs on TCF
Who is eligible?
Eligible applicants under the TCF include
- Households with verifiable evidence of livelihood adversely impacted by COVID-19
- Existing Enterpriseswith verifiable evidence of business activities adversely affected as a result of the COVID-19 pandemic and enterprises with bankable plans to take advantage of opportunities arising from the COVID-19 pandemic.