A total of 3,356 beneficiaries will receive the first batch of NIRSAL Microfinance Bank CBN N50bn COVID-19 Loan. The Funds is part of a stimulus package to support households and Micro, Small and Medium Enterprises, MSMEs, to cushion the effects of the COVID-19 pandemic.

The Stimulus package will be disbursed by NIRSAL Microfinance Bank after obtaining final approval for each loan request from CBN. The package will help entrepreneurs to restart businesses affected by the COVID-19. On a larger scale, The CBN hope to restart the countries economy through these initiatives.

Who is eligible?

Eligibility for the loan is simple and has been broken down into categories

Households:Families with proof of the negative effect of COVID-19 pandemic on their livelihood.
Microenterprises: Small businesses with proof of how business activities were adversely by the COVID-19 pandemic.
SME: Enterprises with bankable plans to take advantage of opportunities arising from the COVID-19 pandemic.

Households can assess a maximum of N3 million while, SMEs based on their activity, cashflow, and industry/segment size of beneficiary can receive a maximum of N25million.

The interest rates on this loan 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.

How to apply for NIRSAL Microfinance Bank CBN N50bn COVID-19 Loan
Visit NIRSAL Microfinance Bank on www.nmfb.com and click on COVID-19 support page.
Click on the category that suits your application (Household, Microenterprise or SME.
Fill in Your Personal Details and follow the rest of the steps.
Submit your application along with your evidence.

After these, the bank will review your application and forward your application to CBN for final approval.  CBN will review your application and consequently give final approval for disbursement of funds to NMFB.

It is open for everyone to apply. Simply visit their website or any of their branches for proper guidance.

Goodluck.

Kindly drop a word in our comment box if you have any challenges or want to share some information with us.


https://www.ebonyigist.com/how-to-apply-for-nirsal-microfinance-bank-cbn-n50bn-covid-19-loan/

After applying what else? Cause I apply since yet no contact

i tried appy for house took me to micrsof which doent op author=Ebonyigist post=89189986]A total of 3,356 beneficiaries will receive the first batch of NIRSAL Microfinance Bank CBN N50bn COVID-19 Loan. The Funds is part of a stimulus package to support households and Micro, Small and Medium Enterprises, MSMEs, to cushion the effects of the COVID-19 pandemic.

The Stimulus package will be disbursed by NIRSAL Microfinance Bank after obtaining final approval for each loan request from CBN. The package will help entrepreneurs to restart businesses affected by the COVID-19. On a larger scale, The CBN hope to restart the countries economy through th

Who is eligible?

Eligibility for the loan is simple and has been broken down into categories

Households:Families with proof of the negative effect of COVID-19 pandemic on their livelihood.
Microenterprises: Small businesses with proof of how business activities were adversely by the COVID-19 pandemic.
SME: Enterprises with bankable plans to i tried apply fo

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