CBN covid-19 loan NIRSAL disbursement 2023 nmfb.com.ng| application portal form|nmfb.com.ng/covid-19-support/to apply
The Application for NIRSAL /CBN COVID-19 stimulus package for households, businesses reopens and applicant has been ask to come forward and apply.
The Central Bank of Nigeria’s Targeted Credit Facility portal has reopened for fresh applications.
Are you interested for financial support from the federal Government to help you ease from the economical hardship and impact of COVID-19 pandemic?
This is the right time to get your self registered online through the CBN covid-19-support website so as to be among the next batch of beneficiaries to get this massive CBN covid-19-support Loan from the Government
CBN covid-19 loan NIRSAL disbursement 2023
You might also be interested to know more about TCF loan. Well TCF simply stands for Targeted Credit Facility and its a scheme that seeks to provide financial assistance and support
mostly to households and Micro, Small and Medium Enterprises (MSMEs) with aim at halting the economy from sliding further onto recession.
You must have heard about the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL), they are the financial body that handles the whole process.
The covid-19 has done a lot of damage to the economy already, forcing businesses to windup and lay off workers. At the end the common man is at the receiving end.
Note that The stimulus package by CBN will be disbursed through NIRSAL.
Interested rate of NIRSAL CBN Covid-19 loan
There shall be interest rate on the loan but don’t be scared, the interest is not on the high side per say.
Like for instance the interest rate is pegged at just 9 percent which is not that much but have in mind that the loan is a short term loan designed to last for just 12 months and a maximum of 3 years .
Hence both interest and capital should be repaid by the end of the 12 months or 3 years
How much is available for Beneficiaries of CBN covid-19-support loan.
The Loan is meant for two categories of people. First the household are entitled to get at most 3 million Naira. This will go a long way to helping many families already left handicapped by the COVID-19 impact.
The second group is the SMEs. They are getting the largest chunk of this loan, although their loan request won’t exceed 25 million naira.
Accessing this loan depends on so many factors like cash flow and industry/segment size of beneficiary business.
The working capital will be a maximum of 25 per cent of the average of the previous three years’ annual turnover.
Where the enterprise is not up to three years in operation, 25 per cent of the previous year’s turnover will suffice.
nmfb.com.ng/covid-19-support/to CBN Covid-19 Loan Application Guidelines
Before starting your application online please remember that all loan under the CBN Covid-19 support have category and its necessary and important you get a better understanding about the loan, most importantly the terms and conditions that comes with the loan.
Let’s help you with some useful links below:
- For household applicants – click https://nmfb.com.ng/wp-content/uploads/2020/03/LOAN-APPLICATION-GUIDELINE-Household.pdf
- For Micro enterprises applicants – click https://nmfb.com.ng/wp-content/uploads/2020/03/LOAN-APPLICATION-GUIDELINE-SMEs.pdf
- For SMEs applicants – https://nmfb.com.ng/wp-content/uploads/2020/03/LOAN-APPLICATION-GUIDELINE-SMEs.pdf
How to Apply for CBN nmfb.com.ng/covid-19-support
The Web address remains
You only have to copy the url we provided above to your browser so as to open the Web page.
Start your application from there.
How to Check Your TCF Loan Application Status on NMFB nmfb.com.ng/covid-19-support/to
You still have to log into the portal here https://covid19.nmfb.com.ng/
Are you applying as household or SME? Select application category (Household or SME)
Your BVN is still much needed here so Input your BVN to check the status