NIRSAL CBN Covid-19 Loan Application Form Link Portal 2021 – CBN Loan is ongoing and available for all to apply. Lots of people have been asking us how they can access the portal for the NIRSAL CBN loan, thus the essence of this is to update and give you guidelines on the CBN Covid-19 Loan Application Form link portal. SEE FULL DETAILS BELOW
Before we go further to show you the latest link to apply for CBN Covid-19 loan, we have to tell give you some vital updates that will be of great importance to you towards a successful application:
The CBN Covid-19 support fund is not free money or grant, it is a low-interest loan set to support households and business owners who have been affected by the Coronavirus pandemic.
The CBN Covid-19 support fund is different from the Federal Government N5000 cash transfer palliative money to poor Nigerians to cushion the effect of Coronavirus.
If you are looking for ways to expand your business or pick up life where COVID-19 left you, then the fund is for you. Those who are opportune to benefit from the loan are being given a 1-year payment moratorium.
Contents
Massive traffic led to the going on and off of the CBN Covid-19 application website. Do not panic whenever you cannot access the application portal as the issue as a result of the portal reaching its resource limit but the technical units are handling it.
Also, those who have been trying to access the website but can’t because the website is temporarily unable to service your request, you are advised to check back later. Most at times, try the website when people are not online much like midnight, it may go through.
For Household:
For SMEs:
The interest rate under the intervention is 5% per annum. (all-inclusive) up to 28th February 2021 and thereafter, the interest in the facility will revert to 9% p.a. (all-inclusive) as from 1st March 2021.
Working capital will be for a maximum period of one year, with no option for rollover. Term loans have a maximum tenor of not more than 3 years with, at least, one-year moratorium.
Households: Can access a maximum of N3 million loan amount to SMEs shall be determined based on the activity, cash flow, and industry/segment size of the beneficiary, subject to a maximum of N25 million. Working capital shall be a maximum of 25% of the average of the previous 3 years’ annual turnover. (where the enterprise is not up to 3 years in operation, 25% of the previous year’s turnover
Note: there are three categories of loans available on the portal when you try the first category and space is filled try the other categories.
Applicants who wish to apply for the loan should visit: https://nmfb.com.ng/covid-19-support
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View Comments
I need your assistance
I am in yobe state but we can't get this assistance in ahoure state
It is an online application so you can do so
Good morning sir/madam, Pls I aply for covid 19 loan so my name is not selected why?
I really need your help in my life please
GOOD MORNING SIR,
I HAVE BEEN TRYING TO SUBMIT MY APPLICATION FORM FOR SOMETIME NOW BUT ONCE IT GET TO WHERE IT WILL DISPLAY THE AMOUNT NEEDED THE BROWSER WILL START ALL OVER. I HAVE TRIED SEVERAL TIMES BUT THE SAME KEEP HAPPENING. PLEASE WHAT CAN I DO TO SUBMIT MY APPLICAN
THANKS
BENJAMIN
Is a error from their end... Try it at night maybe with another browser
Thanks for the updates
Thanks for the updates, it's helpful.