Covid-19 Loan, Federal Government of Nigeria support loan given by the Central Bank of Nigeria as a support to the affected Citizens of Nigeria in the global pandemic of Corona Virus.
The Central Bank of Nigeria in partnership with the NIRSAL Microfinance Bank (NIRSAL) approved the loan and send it to an individual household, small and medium scale businesses, and enterprise business.
Why NIRSAL MFB
NIRSAL Microfinance Bank is a leading Nigerian financial institution licensed by the Central Bank of Nigeria (CBN) in Nigeria. The Company was incorporated as a Private Limited Company in 2024 and commenced operations following the grant of a licence by the Central Bank of Nigeria to operate as a National Microfinance Bank in the same year.
With NIRSAL MFB, you can access the following;
- Access up-to N25 Million Targeted Credit Facility for Covid-19,
- Access loans for your small Businesses for as low as 9%
- Access the CBN’s Anchor Borrowers Program
- Get Funds to grow your Businesses
What is Covid-19 Loan Support?
The Central Bank of Nigeria (CBN) introduces a stimulus package to support households and Micro, Small and Medium Enterprises (MSMEs) affected by the COVID-19 pandemic.
In this respect, the Central Bank of Nigeria (CBN) introduced the N50 billion Targeted Credit Facility (TCF) as a stimulus package to support households and Micro, Small and Medium Enterprises (MSMEs) affected by the COVID-19 pandemic.
Who is Eligible?
The Covid-19 support loan is divided into three (3) categories; Household, SME, and Enterprise.
Household:
This includes Households with verifiable evidence of livelihood adversely impacted by COVID-19. Click here to download requirements
Small-Medium-Enterprise (SME): SMEs
Enterprises with bankable plans to take advantage of opportunities arising from the COVID-19 pandemic.
Click Here to Download Requirement for SME
Microenterprises
Existing enterprises with verifiable evidence of business activities adversely affected as a result of the COVID-19 pandemic. Click here to download the requirement for Microenterprises.
How to Apply for The COVID-19 Loan Support
There are three steps to apply for the Covid-19 support loan.
Step 1: Apply for Loan
Begin by submitting an application online using mobile devices or desktop computers/laptops and or tablets.
You can also submit applications directly to NIRSAL Microfinance Bank (NMFB) with clear evidence of the opportunity or adverse impact as a result of COVID-19 pandemic
Step 2: Getting Approval:
NIRSAL MFB gets your application reviewed and forward the application to the CBN for final approval.
Step 3: Disbursement
After a successful review of your application, CBN reviews applications and gives final approval for disbursement to NMFB.
How To Check If Your Application is Successful
CBN has approved applications for disbursement of the COVID-19 support loan for successful applicants in their various categories.
We have assumed that if you met all requirements in the applications, your name is shortlisted.
To check the list, please follow the steps below;
- Click on Checklist here
- Enter your BVN in the space provided.
- Click on the check.
- Congratulations
What if your name is listed and you don’t have NIRSAL MFB account number to receive the loan?
It’s simple, you can change following the same steps above.
We guide everyone having an interest in the support loan to collect the loan by following all rules.
Ask us any questions anywhere you have difficulty and our support team will put you through.
Congratulations in advance.