Nirsal Microfinance Bank has reopened portal for the Non-Interst Banking window of COVID-19 Targeted Credit Facility and AGSMEIS Loan known as NIB COVID-19 Loan/AGSMEIS Loan- Apply Now

The Nirsal Microfinance Bank has reopened portal for the Non-Interst Banking window of COVID-19 Targeted Credit Facility and AGSMEIS Loan known as NIB COVID-19 Loan/AGSMEIS Loan.

portal reopening today, the NMFB management noted that the beneficiaries to emerge in the new NIB COVID-19 Loan application can now choose Vendors by themselves on the improved NIB COVID-19 Loan Portal depending on their prefered locations.

https://nibloans.nmfb.com.ng/noninterestlendingtcfhousehold

The NMFB management had earlier in a Statement clarified that the NIB COVID-19 Loan Scheme is for all Nigerians regardless of religious inclination. That is, NIB COVID-19 Loan is not meant for only Muslims.

NMFB however noted that an applicant of the Scheme must be adversely affected by the COVID-19 Pandemic, must be aged 18 years and above, must posses a Bank Verification number, and must have been running their own businesses.

Differenting the Scheme from COVID-19 Targetted Credit Facility Loan Scheme, NMFB stated that the Non-Interest Banking Window for TCF and AGSMEIS focuses mainly on assets Financing other than direct cash disbursement to the beneficiaries.

"The COVID-19 Targeted Credit Facility and AGSMEIS are loans that are repayable while the Non-Interest Banking Window recognises only the sharing of profits from the investment with the beneficiary", NMFB stated.

NMFB added that existing beneficiaries of COVID-19 Targeted Credit Facility and AGSMEIS Loan Scheme are ineligible to apply for the NIB COVID-19 TCF/AGSMEIS.

Explaining the Scheme further, the Nirsal Microfinance Bank noted that the Non-Interest Banking Window for TCF and AGSMEIS has a 3 years Tenure and 6 months Moratorium.

Interested applicants can apply for the NIB COVID-19 loan scheme through the improved portal https://nibloans.nmfb.com.ng/noninterestlendingtcfhousehold