N150bn FG Conditional Loan for MSMEs – Apply Now

Attention, Nigerian entrepreneurs! The air is thick with both opportunity and cautious optimism as the Federal Government announces an FG conditional loan ₦150 billion scheme specifically targeted at Micro, Small and Medium Enterprises (MSMEs). This isn’t just your run-of-the-mill loan offer; it’s a potential game-changer, a springboard to propel your hustle from kitchen table dream to high-street reality. But before you jump for joy and start confetti cannons, let’s unpack this conditional loan package and see if it’s truly the golden ticket you’ve been waiting for

FG Conditional Loan Overview

The Nigerian government, in a bid to stimulate economic growth and empower small businesses, has unveiled a ₦150 billion conditional loan scheme targeted towards Micro, Small and Medium Enterprises (MSMEs). This initiative, launched in collaboration with the Central Bank of Nigeria (CBN), is part of the government’s broader economic diversification agenda aimed at reducing reliance on oil revenue and fostering job creation.

The loan, officially known as the Targeted Credit Facility (TCF), was initially established in 2014 with a ₦220 billion fund. However, due to limited uptake and repayment challenges, the program was restructured and relaunched in 2020 with a revised focus on MSMEs in critical sectors like agriculture, manufacturing, healthcare, and export-oriented industries.

Eligibility Criteria

So, you’ve heard about the ₦150 billion FG Conditional Loan for MSMEs and your entrepreneurial spirit is tingling with excitement. But before you start celebrating, hold your horses! Not every MSME qualifies for this golden opportunity. The government has laid out specific eligibility criteria to ensure the funds reach the businesses that need them most.

Here’s what you need to know to unlock the door to potential funding:

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Business Registration:

  • Formal registration: Your business must be duly registered with the Corporate Affairs Commission (CAC) as a sole proprietorship, partnership, or limited liability company (LLC). No unregistered businesses allowed!

Business Age:

  • Seasoned or fledgling? The loan program has different requirements for established businesses and startups. Established businesses must have been operating for at least 3 years, while startups need to be at least 6 months old.

Industry Focus:

  • Targeting key sectors: The loan prioritizes MSMEs operating in critical sectors like agriculture, manufacturing, healthcare, and export-oriented industries. If your business falls outside these areas, you might need to look for alternative funding sources.

Means of Identification:

  • Proof of who you are: Get ready to provide valid government-issued means of identification for all directors, partners, or sole proprietors. International passport, driver’s license, National ID card – any of these will do.

Financial Statements:

  • Numbers talk: The lenders want to see your financial health. Prepare audited financial statements for the past 3 years (if applicable) or at least 6 months for startups. Be prepared to show your income, expenses, and assets.

Business Plan:

  • Charting your course: A well-defined and convincing business plan is essential. It should outline your business goals, strategies, market analysis, and financial projections. Show them why you’re the perfect candidate for this loan!


  • Security blanket: While not always mandatory, providing collateral can strengthen your loan application. Think landed property, equipment, or personal guarantees.

Additional Requirements:

  • Tax clearance certificate: Show the government you’re a responsible citizen by providing your tax clearance certificate.
  • Bureau of Statistics registration: Get yourself registered with the National Bureau of Statistics (NBS).
  • Training programs: Completing government-approved entrepreneurship or skills development programs can boost your chances.

Application Process: How To Apply

Step 1: Choose Your Path (Online or Offline):

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You have two options: conquer the digital frontier with online applications or stick to the familiar ground of offline applications. Most participating banks offer online platforms for convenience, while some still accept hardcopy submissions. Choose the method that suits your comfort level and technical prowess.

Online Application:

  • Visit the official website: Head to the Central Bank of Nigeria’s Targeted Credit Facility (TCF) website: https://www.cbn.gov.ng/DFD/msmes/tcf.asp.
  • Select your bank: Choose the Participating Financial Institution (PFI) you wish to apply through.
  • Register and complete the online application form: Follow the prompts carefully, providing accurate and complete information about your business, finances, and loan request.
  • Upload required documents: Scan and upload all necessary documents as specified by the chosen bank.
  • Submit your application and wait for a response: Once you’ve reviewed everything, hit submit and wait for the bank’s decision. You’ll be notified via email or phone call.

Offline Application:

  • Visit your chosen bank branch: Locate a branch of your preferred PFI that participates in the TCF program.
  • Obtain the application form: Request the TCF loan application form from a bank representative.
  • Complete the form and gather documents: Fill out the form meticulously and collect all required documents as outlined in the “Eligibility Requirements” section.
  • Submit your application at the bank: Hand over the completed form and documents to the bank representative for processing.
  • Wait for a response: The bank will contact you regarding the status of your application.

Step 2: Patience (and Persistence) is a Virtue:

Remember, processing loan applications takes time. Relax, avoid pestering the bank, and focus on running your business. The bank will notify you of their decision within a reasonable timeframe.

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Step 3: Conditional Approval? Celebrate (Cautiously):

Congratulations, you’ve received conditional approval! This means you’re on the right track, but remember, the loan comes with conditions. The bank will provide you with a list of requirements to fulfill before final disbursement.

Step 4: Fulfill the Conditions (Cross that Finish Line):

Address all the conditions promptly, whether it’s attending training programs, providing additional documentation, or finalizing collateral arrangements.

Step 5: Disbursement Day! (Let the Funding Flow):

Once all conditions are met, your loan will be disbursed to your designated account. Celebrate your success, but remember, the journey doesn’t end here. Manage the funds wisely, invest in your business, and make this loan your springboard to entrepreneurial greatness.


The ₦150 Billion FG Conditional Loan for MSMEs isn’t just a financial lifeline; it’s a potential game-changer for the Nigerian entrepreneurial landscape. This targeted initiative, with its focus on critical sectors and accessible loan terms, holds the power to unlock the immense potential of small and medium-scale businesses.

The future of Nigerian business is bright, and the ₦150 Billion FG Conditional Loan is a torch illuminating the path towards a more prosperous and diversified economy. Let’s seize this opportunity, nurture our entrepreneurial spirit, and build a future where Nigerian MSMEs flourish.