It will be recalled that the CBN on March 23, 2020, unveiled guidelines for the implementation of the N50bn Targeted Credit Facility as a stimulus package to support households and micro, small and medium enterprises affected by the COVID-19 pandemic.

A few weeks back, the Central Bank of Nigeria (CBN) assured that all successful applicants under its COVID-19 Targeted Credit Facility (TCF) will have their accounts credited within 48hrs.

If you are part of successful applicants you should have received your loan in your account already. Most of the people who closed to me that applied have gotten theirs. If you have got yours too, please assist the doubting Thomas by dropping your testimony via the comment box below this post.

The CBN advised the successful applicants whose accounts have not been credited, to visit the website of NIRSAL Micro Finance Bank (www.nmfb.com.ng) and input their account details.

The CBN Director, Corporate Communications Department, Isaac Okorafor, who gave the assurances in a statement urged all successful household and SME applicants that have submitted their account details for the facility, but do does not receive a credit alert within 48 hours to call mobile number: 09010026900 for resolution.

If you know that your business was kicked badly by the lockdown or ongoing COVID-19 pandemic, but still pondering on whether to apply or not, we advise you to utilize the opportunity to awake your business before it is too late and do not hesitate to contact me if you need any ideas from me relating to online business.

It is important to take note of the information in the image below.

If you are yet to apply, you can apply here https://nmfb.com.ng/covid-19-support/ and make sure you complete your applications and submit. See more details about eligibility here.

You can also download the NIRSAL Android app here for easy access.

If your application was successful, you’ll get disbursement in the coming weeks. The loan amount would be determined based on the activity, cash flow, and industry size of the beneficiary, subject to a maximum of N25m for SMEs.

Households can access a maximum of N3m while working capital would be a maximum of 25 percent of the average of the previous three years’ annual turnover.

If you applied and the money has been paid to your account, let us know via the comment section.

 


administrator

I'm Funsho, a lover of anything technology. I have an uncontrollable passion for sharing the latest and trending tech-related ideas and information.

8 Comments

  • Sammy, June 19, 2020 @ 8:45 am Reply

    Is the loan to be paid back to cbn after a while??

    • Autoss Vincent, June 20, 2020 @ 5:09 am Reply

      Yes, you pay back in five years time.

  • Autoss Vincent, June 20, 2020 @ 5:14 am Reply

    I already applied for NIRSAL loan around December before even this COVID-19 loan came on. Then it was not a loan for COVID-19 loan.

    However, they approved my loan with 1.80m

    • Shelaf, June 20, 2020 @ 1:02 pm Reply

      I hope the money has been paid to your account, the interest and the tenure are the same with the above covid-19 loan?

      • Shelaf, June 20, 2020 @ 1:27 pm Reply

        @Autoss, I just sighted you, pal. Thank you for being there for me.
        Note that the covid-19 loan has a maximum tenor of not more than 3 years.

  • Selassie, June 20, 2020 @ 6:31 am Reply

    I benefited from the Loan. Thank you Shelaf

    • Shelaf, June 20, 2020 @ 1:10 pm Reply

      I’m glad you benefited from it, please use it judiciously.

  • Kingsley, June 22, 2020 @ 10:37 pm Reply

    Thank you sir I benefit from the long sir

Leave a Reply

Your email address will not be published. Required fields are marked *