COVID-19 Non Interest Loan not for only Muslims, existing Beneficiaries ineligible - NMFB clarifies


The Nirsal Microfinance has clarified that the ongoing COVID-19 Non Interest Loan for Nigerian affected by the COVID-19 Pandemic is not a religious affair.

In Public announcement, Tuesday, that management of the bank noted that the Scheme is for all Nigerians regardless of religious inclination.

NMFB however noted that an applicant of the Scheme must be adversely affected by the COVID-19 Pandemic, must be aged 18 years and above, must posses a Bank Verification number, and must have been running their own businesses.

Differenting the Scheme from COVID-19 Targetted Credit Facility Loan Scheme, NMFB Stated that the Non-Interest Banking Window for TCF and AGSMEIS focuses on assets Financing.

"The COVID-19 Targeted Credit Facility and AGSMEIS are loans that are repayable while the Non-Interest Banking Window recognises only the sharing of profits from the investment with the beneficiary", NMFB stated.

NMFB added that existing beneficiaries of COVID-19 Targeted Credit Facility and AGSMEIS Loan Scheme are ineligible to apply for the Non-Interest Banking Window for TCF and AGSMEIS.

Explaining the Scheme further, the Nirsal Microfinance Bank stated that the Non-Interest Banking Window for TCF and AGSMEIS has a 3 years Tenure and 6 months Moratorium.

To apply for the Programme, interested applicants can follow www.nmfb.com.ng  or http://nibloans.nmfb.com.ng/nmfbloanapplicationportal

Post a Comment