Categories
Government

Steps for NIRSAL Covid-19 Loan Application – https://nmfb.com.ng/covid-19-support

Access up to N25 Million Targeted Credit Facility for COVID-19. The Central Bank of Nigeria (CBN)  introduces a stimulus package to support households and Micro, Small and Medium Enterprises (MSMEs) affected by the COVID-19 pandemic.

The Coronavirus Disease (COVID-19) pandemic has led to unprecedented disruptions to global supply chains, sharp drop in global crude oil prices, turmoil in global stock and financial markets, massive cancellation of sporting and entertainment event, lockdown of large swaths movements of persons in many countries, and intercontinental travel bans/restrictions across critical air routes across the world.

These outcomes have had severe consequences on households’ livelihoods and business activities, resulting from drop in global demand, declined consumer confidence and slowdown in production.

In this respect, the Central Bank of Nigeria (CBN) introduced the N50 billion Targeted Credit Facility (TCF) as a stimulus package to support households and Micro, Small and Medium Enterprises (MSMEs) affected by the COVID-19 pandemic.

 

NIRSAL Microfinance Bank Covid-19 Loan Application Form

Who Is Eligible for NIRSAL Covid-19 Loan?

  • Households with verifiable evidence of livelihood adversely impacted by COVID-19
  • Microenterprises: Existing enterprises with verifiable evidence of business activities adversely affected as a result of the COVID-19 pandemic
  • SMEs: Enterprises with bankable plans to take advantage of opportunities arising from the COVID-19 pandemic

 

Interest rate under the intervention is 5% p.a. (all inclusive) up to 28th February 2021 and thereafter, the interest on the facility will revert to 9% p.a. (all inclusive) as from 1st March 2021.

Working capital will be for a maximum period of one year, with no option for rollover. Term loans have a maximum tenor of not more than 3 years with, at least, one-year moratorium.

Households: Can access a maximum of N3 million

Loan amount to SMEs shall be determined based on the activity, cashflow and industry/segment size of beneficiary, subject to a maximum of N25 million.

Working capital shall be a maximum of 25% of the average of the previous 3 years’ annual turnover. (where the enterprise is not up to 3 years in operation, 25% of the previous year’s turnover will suffice).

 

How It Works

STEP 1

Submit An Application

The process is easy.You can begin on your phone, your tablet or your laptop.

Submit applications directly to NIRSAL Microfinance Bank (NMFB) with clear evidence of the opportunity or adverse impact as a result of COVID-19 pandemic.

STEP 2

Approval

We review your application and forward the application to the CBN for final approval.

STEP 3

Disbursement

CBN reviews applications and gives final approval for disbursement to NMFB
How to Apply
For more information and to apply, visit https://nmfb.com.ng/covid-19-support/

NMFB Covid-19 Loan Support Application Form

COVID-19-LOAN-APPLICATION-GUIDELINE-FOR-Household
COVID-19-LOAN-APPLICATION-GUIDELINE-FOR-SMEs
COVID-19-LOAN-APPLICATION-GUIDELINE-SME-CORPORATE

CBN waive guarantor for COVID-19 Support Loan

The Central Bank of Nigeria (CBN) has waived the requirement for the provision of guarantors by households and SMEs applying for its N50 billion COVID–19 COVID-19 Support Loan

CBN-Guarantors-Form-COVID19-Support

23 replies on “Steps for NIRSAL Covid-19 Loan Application – https://nmfb.com.ng/covid-19-support”

I had submitted all my information for household loan but have no receive any alert from you .since june i made it .thank

good evening sir my name is idris Adams ALHAJI I apply for the loan I have never get any a let please u can help me dis is my phone no 09061947164 tanks nisal

I balarabeinuwa from bauchi state katagum local goverment azare town am not see anything but of my account number. sir need to helf me to get my onwn lond.please sir.

My name is Chia Linus Ordedoo from Benue Ben I,Ushongo local government. I apply for this loan for quite a long time but no message for me. I didn’t want to believe what they says politicians hijack this in benue state but its really happening so.

I am approval applicant since to 25 /12/2020 up till now ididn’t recieving my funds, so pls i need ur help dis my con/ 09069472347

Nirsal pls help i was approved for covid19 tcf loan since on 19th jan 2021 and i acept the offer the same date but i mistakenly put wrong bank name but my account number is correct. On 10th of feb 2021 nmfb send me a text to correctly enter my bank detail again and i did that the same date but up to nw my account has nt been credited

Pls I’m an household loan applicant since last year and i got a message of approval from nmfb on the 13/04/2021 that my loan has been approved that i should log in and accept the offer letter i log in and accepted it, but after accepting it there was no colum for me to fill in my Bank details and since then till now i have not receive any message and i have not been paid as well. So pls i need your help, here is my number. 08034783868. Thank you.

Leave a Reply

Your email address will not be published. Required fields are marked *