COVID-19 Targetted Credit Facility: Nirsal MFB reopens Application portal | Apply Now

The Nirsal Microfinance Bank has reopened the portal for interested applicants to apply for the COVID-19 Targetted Credit Facility Loan featuring the popular Household and the SME Loans which have trended among thousands of their beneficiaries.

The COVID-19 Targetted Credit Facility is a soft Loan Scheme introduced by the Federal Government as part of the Central Bank of Nigeria Intervention Schemes to cushion the effect of the COVID-19 Pandemic on Nigerian Businesses. Applicants of the Household Loan can access up to N3 Million while SME can access up to N25 Million at 5% interest rate until February, 2022 and 9% Interest Per Annum for other year, with 12 Months Moratorium.  

Interested applicants are encouraged to avoid doubts and apply through the old portal https://nmfb.com.ng/covid-19-support for the COVID-19 Targeted Credit Facility Loan or quickly follow the redirected application portal subdomains  https://nmfbloans.nmfb.com.ng/nmfbloanapplicationportal, select COVID-19 TCF and then select Household or SME.

The application portal has been verified to be direct subdomains of the Nirsal Microfinance Bank https://nmfb.com.ng which is the official website for the bank. It is harmless but sensitive to valid information.

Applicants are encouraged to understand that while the Nirsal Microfinance Bank would send the names of qualified applicants after application to the Central Bank of Nigeria, it is the duty of the apex bank to review applications, grant approval and order NMFB for disbursement.  

Applicants of the SME Loan should also note that the SME Loan Approval is based on the activity, cash flow, and industry size of the prospective beneficiaries.

Read Also: Happening Now: CBN extends discounted interest rate on its Intervention Schemes

The Nirsal Microfinance Bank asides the CBN Intervention Schemes and just like other Microfinance Bank also offers Loans to its customers who have accounts with them at a subsidised interest rate through the Commercial Loan plan. NMFB petronises traders who deal in products such as Food, Electronics, Allied  products, Computers/Phones, Spear parts, Building Materials etc.