Tuesday, August 16 2022

NMFB Covid-19 Loan Website – https://nmfb.com.ng/covid-19-support

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NMFB Covid-19 Loan Website – 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.

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

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

The Nirsal-Central bank of Nigeria, CBN COVID-19 Loan application portal is now ongoing. Here is an update to assist you access the CBN COVID-19 Loan application portal on NMFB Portal.

The Central Bank of Nigeria instituted the N50 billion COVID-19 TCF for households and SMEs to mitigate the harsh economic impact of the coronavirus pandemic currently in the country.

https://nmfb.com.ng/covid-19-support.

The link to apply for the CBN Loan is https://nmfb.com.ng/covid-19-support

However, due to the massive traffic to the application portal, the website goes off and on. At the moment the portal has gone off because it has reached its resource limit.

CBN COVID-19 Loan Requirements.

Below are the requirements for the CBN COVID 19 Loan application for SMes

  • Registered business with CAC
  • Evidence of tax payments
  • BVN
  • Letter of Introduction
  • Passport photo of you and guarantor
  • Valid ID card

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).

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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 on NMFB Covid-19 Loan Website.

For more information and to apply, visit https://nmfb.com.ng/covid-19-support/

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40 Comments

  14. Shuaibu abdullahi on

    I’m a business man,with provision shop.with almost 3,000000.as then before convict19 scenario.but now I’m completely down,becourse of like of capital to move on with my business.as a Nigeria I had about this great upper,i says let me give a trial.becouse I believe with God it may become reality for me.

    Reply
  15. Akinlabi akin on

    Please my name is akinlabi akin I have done the necessary to fill the form and submitted it,but yet no response to know if it was approve or not,please me so that I can get up again my business sir please and please sir.thanks sir.The amount to start business is three hundred and fifty thousand naira only sir/ma.thanks

    Reply
  16. Akinlabi akin on

    Please my name is akinlabi akin I have done the necessary to fill the form and submitted it,but yet no response to know if it was approve or not,please me so that I can get up again my business sir please and please sir.thanks sir

    Reply

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