All Applications will be received by the Central Bank of Nigeria (CBN) itself, for the N50 billion targeted credit facility. (TCF). This facility is aimed at supporting households as well as micro, small and large enterprises (MSMEs), that have been affected by the COVID-19 pandemic.
NIRSAL Microfinance Bank (NMFB), which announced the portal’s reopening via Twitter on Monday, stated that applicants must be MSMEs and households with evidence of livelihood being adversely affected by the coronavirus pandemic.
The Nigeria Incentive-Based Risk Sharing System For Agricultural Lending (NIRSAL), Microfinance Bank, disburses the stimulus package that was set up by the apex banking institution in March 2020.
Companies with bankable plans that allow them to profit from the COVID-19 pandemic opportunities are also eligible.
The facility’s interest rate will be 9 percent per year. Working capital will only be available for a maximum of one year. There will be no option to roll over.
The maximum amount of working capital that can be offered to eligible companies has been set at 25 percent of the average annual turnover for the three previous years.
If the business is less than three years old, 25% of the turnover from the previous year will be offered.
Term loans are limited to a maximum term of 3 years, with a minimum one-year moratorium.
A maximum loan amount of a N3million can be granted to households. However, SMEs will only be eligible for a loan amount of N25million or less based on their cash flow and the size of the beneficiary’s industry/segment.
Login to the NIRSAL Covid-19 Loan Portal
To Login to the NIRSAL Loan Portal Simply enter www.nmfb.com.ng/covid-19-loan/ in your browser. The NIRSAL Microfinance Bank website will open. Here you can login or register.
The NIRSAL Login portal procedure is simple. Logging in to the NIRSAL cbn loan portal should be easy if you have all the information you need.
The NIRSAL Portal was created to allow Nigerians to access the targeted credit facility (tcf), covid19 household loan, provided by the Federal Government in collaboration with the Central Bank of Nigeria (CBN).
nmfb.com.ng/covid-19-support/ NIRSAL CBN Loan Application Portal
Login to www.nmfb.com.ng Covid-19 Loan Portal to Access the CBN Loan Facilities for All Eligible Nigerians. The application portal for the NIRSAL Microfinance Bank Loan is www.nirsalmfb.caderp.com/Account/Register to successfully sign up for the Covid 19 support loan.
NIRSAL microfinance Bank and CBN are partnering to provide loans to different households in order to reduce the impact of Covid-19. Anyone can fill out the application form on the portal.
Online application guidelines are available. Log in to the portal to register for the loan and credit facilities offered by the Central Bank of Nigeria.
Register for the NIRSAL Portal to get regular updates on Covid-19 CBN Loan. To receive updates on NIRSAL microfinance loans, all you have to do is leave a comment below the article.