EASIEST WAY TO GET NIRSAL COVID-19 LOAN 2022

EASIEST WAY TO GET NIRSAL COVID-19 LOAN 2022

EASIEST WAY TO GET NIRSAL COVID-19 LOAN 2022

Almost no country is exempt from the effects of COVID-19, which affect the whole global economy. SMEs Dominates Nigeria’s economy by fighting for survival, the impact was particularly severe there. As a result, the government established a N50 billion targeted loan facility to aid the nation’s small enterprises. In addition to the government, a few private institutions also offered loans to people and businesses that were struggling to recover from the pandemic.

Application for CBN On the NIRSAL Microfinance Bank website, there is a COVID-19 Loan, Targeted Credit Facility for Households and Businesses. The Central Bank of Nigeria (CBN) has issued COVID-19 assistance loans for Households, SME, and MSME as part of an effort to reduce the impact of the COVID-19 epidemic on enterprises in Nigeria.

Only individuals with verifiable proof that their business was negatively impacted by Covid 19 meet the minimum qualification requirements and are eligible for the loan. It does, however, allow enterprises that intend to take advantage of new opportunities brought forth by the pandemic crisis. The Micro, Small and Medium Enterprises Development Fund (MSMEDF) account will be used to finance the government’s COVID-19 loan program, which covers the following:

  1. The hospitality industry, which provides lodging and dining services
  2. Agricultural value chain activities, medicines, and medical supplies
  3. Service suppliers for airlines
  4. Trading
  5. Value addition and manufacturing
  6. Additional sources of income, according to the Central Bank of Nigeria

Follow the steps below for detailed instructions on how to apply. The COVID-19 Support Fund will be distributed by NIRSAL Microfinance Bank and come with an Interest rate under the intervention is 5% P.A. (all-inclusive) up to 28th February 2022 and thereafter, the interest will revert to 9% P.A. (all-inclusive) as of 1st March 2023.

ELIGIBILITY FOR GETTING NIRSAL COVID-19 LOAN 2022

HOUSEHOLDS:

For household, they must permit NIRSAL Microfinance Bank (NMFB) to examine their financial records in exchange for providing verifiable evidence of livelihoods negatively impacted by COVID-19. Households able to obtain up to N3 million.

Requirement for Household Loan:

  1. Loan application letter
  2. Duly completed application form
  3. Duly executed Guarantor form
  4. A valid means of ID (national ID, driver’s license, voter’s card or international passport)
  5. Current utility bill
  6. 2 recent passport-size photographs
  7. BVN

MSMEs/CORPORATE ENTERPRISES:

(1) Mini SME (funding between N3m – N10m)

(2) SME Plus (funding between N10.1m and N25m)

Existing businesses must present proof of how the COVID-19 pandemic negatively affects their operations and agree to let NIRSAL Microfinance Bank (NMFB) evaluate their financial records.

Although this would not be the only method used to ascertain the customer’s eligibility, the Bank will evaluate the customer’s capacity based on their company history and total account statement turnover (with NMFB and other banks). (Note: The bank reserves the right to make judgments it deems appropriate in cases where a review of the customer’s account statement raises fundamental questions.)

Requirement for MSMEs:

  1. Loan application letter
  2. Duly completed application form
  3. Duly executed Guarantor form
  4. A valid means of ID (National ID, Driver’s License, Voter’s Card or International passport)
  5. Current utility bill
  6. 2 recent passport-size photographs
  7. BVN



Be the first to comment

Leave a Reply

Your email address will not be published.


*