Breaking: NMFB reopens portal for COVID-19 Non-Interest Loan application

The Nirsal Microfinance Bank has announced a new application window for Nigerian Businesses especially Micro, Small and Medium Enterprises (MSMEs) and Households affected by the COVID-19 Pandemic.

This is coming barely one week the bank disclosed that it will be updating its official portal, to serve its valued prospective and existing customers better.

Taking to its Facebook handle to communicate the portal reopening, the Management stated, "in line with the CBN’s decision to extend a non-interest window to businesses and households that have been impacted negatively by the Covid-19 pandemic, NIRSAL Microfinance Bank’s portal is now live for applicants who are eligible under this scheme to apply."

The Nirsal Microfinance Finance Bank however limited the application eligibility criteria to businesses that fall under the following categories:

"MSMEs with 1-5 staff and verifiable evidence of business activities adversely affected as a result of the pandemic with evidence of job protection for its staff."

"Hospitality businesses, Health (Pharmaceuticals and Medical supplies) Airline service providers, Manufacturing/Value Addition, Trading and any other income generating activities as may be prescribed by CBN and are Shari’ah complaint."

NMFB announced that Financing (Loan) limit for MSMEs is N2,500,000 while Household is N1,000,000.

According to the Bank, applicants can apply through the official portal www.nmfb.com.ng.

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