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NEXIM Bank SME Export Facilities (SMEEF & WAYEF)

Nigerian Export-Import Bank (NEXIM) · Verified watch-list
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About this opportunity

NEXIM lends to Nigerian export-oriented SMEs for working capital, equipment and export costs. Apply if you have valid export contracts, audited accounts and acceptable collateral.

NEXIM lends to export-oriented SMEs through its SME Export Facility and its Women and Youth Export Facility (WAYEF). It covers working capital, equipment and other export-related needs for non-oil exporters. You can apply directly to NEXIM or through a commercial bank. Terms: WAYEF (2021): 5% in year one, then 9%. Older facilities capped at 9%. Current rates and tenors aren't published.

Who can apply

  • Registered SME based in Nigeria
  • Business must be export-oriented and non-oil
  • Have a valid export contract or confirmed purchase orders
  • Hold audited financial accounts and cash flow projections
  • Evidence of previous export activity
  • Women or youth-led businesses (for WAYEF facility)
  • Export cooperatives (for WAYEF facility)

Not eligible

  • Oil and gas sector businesses
  • Unregistered or informal enterprises
  • Businesses without evidence of past exports

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Documents you will need

  • Business registration certificate
  • Audited financial accounts
  • Cash flow projections
  • Evidence of past export transactions
  • Valid export contract or purchase orders
  • Proof of acceptable collateral (property deed, bank guarantee, insurance bond or personal guarantee)
  • Company tax clearance certificate (usually required)

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How to apply, step by step

  1. Confirm your business meets the criteria: registered, export-oriented, with valid export contracts and past export evidence.
  2. Gather your audited accounts, cash flow projections and proof of collateral.
  3. Choose your route: apply directly to NEXIM Bank or through a commercial bank partner.
  4. Submit your application with all required documents to your chosen channel.
  5. Await assessment of your application and collateral valuation.
Save and track it and we will email you 14 days, 7 days, 3 days, 24 hours and on the morning of the deadline.

How applications are selected

NEXIM assesses your export contract, financial track record and collateral value. Applications can go through NEXIM directly or via commercial banks, which may add their own assessment layer. Processing timelines are not published; contact NEXIM or your bank partner for expected turnaround.

What reviewers look for

  • Strong export contracts with named buyers carry more weight than speculative export plans.
  • Audited accounts showing consistent revenue are essential; projections alone will not suffice.
  • Collateral must be acceptable and valued—personal guarantees alone are typically weak unless backed by a creditworthy individual.
  • WAYEF facilities favour women promoters, youth (under 40 typically) and registered export cooperatives.
  • Evidence of repeat exports matters; first-time exporters face stricter scrutiny.

Frequently asked questions

What is the difference between SMEEF and WAYEF?

SMEEF (SME Export Facility) is open to all eligible export SMEs. WAYEF (Women and Youth Export Facility) is reserved for women promoters, youth promoters or export cooperatives, and offers preferential rates: 5% in year one, then 9%.

What interest rates apply?

WAYEF rates are 5% in year one and 9% thereafter (as of 2021). Other facilities are capped at 9%. Current rates and loan tenors should be confirmed directly with NEXIM as they may change.

Can I apply through my commercial bank?

Yes. NEXIM works with commercial bank partners. You can apply directly to NEXIM or through a participating bank, whichever suits you.

What types of collateral does NEXIM accept?

Mortgages, bank guarantees, insurance bonds and personal guarantees. The collateral must be valued and deemed acceptable by NEXIM.

Do I need to have exported before?

Yes. You must show evidence of past export activity. Businesses with export history are stronger applicants.

Guide written from the official programme page on 16 October 2026. Funders change their rules, so confirm the details on the official page before you apply.

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