APPLY: CBN reopens N50bn COVID loan portal for households, businesses

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The Central Bank of Nigeria (CBN)  is receiving applications for its N50 billion targeted credit facility (TCF) aimed at supporting households and micro, small and medium enterprises (MSMEs) affected by the COVID-19 pandemic.

The stimulus package, set up by the apex bank in March 2020, is disbursed through the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) Microfinance Bank.

Announcing the portal reopening in a tweet on Monday, NIRSAL Microfinance Bank (NMFB) said applicants must be households and MSMEs with verifiable evidence of livelihood adversely impacted by the coronavirus pandemic.

Enterprises with bankable plans to take advantage of opportunities arising from the COVID-19 pandemic are also eligible to apply.

The interest rate on the facility will be nine percent per annum, working capital will be for a maximum period of one year, with no option for rollover.

The working capital to be offered to eligible businesses has been fixed at a maximum of 25 percent of the average of the previous three years’ annual turnover.

Read Also: NEXIT CBN Loan | How to Apply and Get CBN Loan Without Collateral

However, if the enterprise is not up to three years in operation, 25 percent of the previous year’s turnover will be offered.

Term loans have a maximum tenor of not more than 3 years with, at least, one-year moratorium.

Households can access a maximum loan of N3 million while the loan amount to SMEs shall be determined based on the cashflow and industry/segment size of beneficiary, subject to a maximum of N25 million.

Interested applicants can access the loan application portal.

NIRSAL Covid-19 Loan Portal Login

How to login to NIRSAL Loan portal. Simply enter www.nmfb.com.ng/covid-19-loan/ in your browser. You will be directed to the NIRSAL Microfinance Bank Website where you can enter your details to login or sign up.

NIRSAL Login portal procedures is very easy. Provided you have the details you used to sign up on the portal, then logging in to the NIRSAL cbn loan application portal should be smooth for you.

The NIRSAL Portal was open to enable Nigerians benefit from the targeted credit facility (tcf) covid19 household loan provided by the Federal Government in collaboration with the Central Bank of Nigeria (CBN).

nmfb.com.ng/covid-19-support/ NIRSAL CBN Loan Application Portal

Login to nmfb.com.ng Covid-19 NIRSAL Loan portal to access the CBN Loan facilities for all eligible Nigerians. Application portal for the NIRSAL Microfinance Bank Loan is www.nirsalmfb.caderp.com/Account/Register to successfully sign up for the Covid 19 support loan.

NIRSAL microfinance Bank working together with CBN is giving out loans to various households to ease the effect of the Covid-19 on them. Application form is available on the portal and anyone can apply.

The application guidelines have been provided online where you can login to the application portal and register for the Loan and credit facilities provided to you by the Central Bank of Nigeria.

If you want to receive regular news on NIRSAL Portal Login for Covid-19 CBN Loan. Then all you need to do is to drop a comment below this article so you can always get updates about NIRSAL Microfinance loans.

NEXIT CBN Loan | How to Apply and Get CBN Loan Without Collateral

195 thoughts on “APPLY: CBN reopens N50bn COVID loan portal for households, businesses”

  1. Pingback: NEXIT CBN Loan | How to Apply and Get CBN Loan Without Collateral - USANewsCourt

  4. Good morning I am into planting arable cassava and maize. I planted twice (rain and dry seasons) lost huge amount of money to scarce rainfall in 2020.If I can be assisted in getting loan of low interest rate for two years I would appreciate. Thanks.

  5. I applied for this loan 2yrs ago and I never got a feedback even after all the classes nd the account we opened with nirsal still nothing up till now

  6. This will be very helpful to Nigerians who will maximize these opportunity to grow in life.
    I’m interested

  8. I applied for this loan on 2018 and got a negative reply after 2 yrs. I have account with NIRSAL. I still need the 3m loan to establish a business before my retirement.

  10. This is Development would be highly appreciated by Nigerians if appropriate disbursements are being made

    • Are you sure this exercise will not be hijacked by this bank workers for commissions as it has been done in the past? A very good idea if properly applied. Help us God. I need such loan(about two million and above) to start a business as my retirement from the public service is months away.

  18. Please i need a loan to buy a car,to be using it for transportation,so I can pay back in time,thank you

  19. am into planting arable cassava and maize. I planted twice (rain and dry seasons) lost huge amount of money to scarce rainfall in 2020.If I can be assisted in getting loan of low interest rate for two years I would appreciate.

  21. I don’t know if this time around it’s real or am wasting my time again to apply for loan that doesn’t exit but if its true I still request for 5million naira for my business

  22. I need 5m my business short down since 2020 September. Since then I couldn’t get myself normal. Please help

    • I need 5 million naira.. It will really help to expand my business. Thanks in anticipation.

  25. This is lie you can’t give this loan to those who are not your relatives.
    You have no justice at all .
    I can’t Apply

    • But you are a Nigerian sir….you have to erase the mindset you against any improvement from the government plan….I have benefitted from different government programs without any of my relatives in government.. so you can also benefit from it if you have a positive mindset sir…..God bless our country Nigeria.

  35. I have applied before, I was told that it was on process but was not giving to me, later said the portal have been closed, I just pray that this time around it will be for real to everyone

  37. I need this loan if it’s not scam this time,I will need 2million to expand and grow my business

  42. I am interested please I need 600,000 to start a small business . This are my account number 0069006941 access bank my phone number 07054439659

    • Am interested I need 2million to start up a business my details 0101103010 Odey Emmanuel access bank

  48. LET US HAVE ACCESS TO THIS LOAN AT LEAST TO CUSION THE EFFECT OF POVERTY IN THE LAND, I AM INTERESTED PLEASE!

  50. Pls I really need this loan. I applied some time ago and up this now I haven’t gotten a dime from them and how do I do my registration

  52. Pls,i will need a financial support to assist my business to grow to be able to carry my family challengings pls

  56. I was involved in a scam with a company called Option FM in 2017 and lost £166,831.00 and thought all was lost until I contacted Zattrecoverypro @ Gmail com in 2020 they were confident that they could help me as they had dealt with Option FM before, Hacker4wise was very professional with my case from dealing with my bank and then onto the Ombudsman service it is now March 2022 and my case has been settled in full with compensation £325.000 has just been put back into my account, a big thank you to Hacker4wise. at Zattrecoverypro @ Gmail com

  66. THIS IS A PERFECT EFFORT BY THE GOVERNMENT OF NIGERIA ( GoN). ALSO PART OF DEMOCRACY DIVIDENDS. PLEASE LET IT GO ROUND THIS TIME AROUND. THE TENURE OF THIS ADMINISTRATION IS GRADUALLY EASING OUT. ALSO MAKE CONDITIONS AND ELIGIBILITY FLEXIBLE FOR EASY ACCESS.

  67. It’s good initiative by the federal authorities. It would be better if the process is wholistic and timely.

  73. Is good everything’s in Nigeria now is scam, if it is true let theme proved it to all Nigeria’s, that people have been giving it to, like me am interested on it, to set up my mechanical work shop and bags enterprise. Thanks

  79. Well ! I wish to apply for this loan if it’s not scam. Because everything in this country is scam.
    Again, the government should aswell made it open to everybody who is eligible for it.
    Lastly, how do I apply please.
    At least i will be benefiting from my country for the first time.
    Thanks.

  80. Please I have applied before but no response till now please I will like to apply for 500,000 thousand I want to start a small poultry farm please

  83. Good evening sir please how can I apply for this loan I try applying for the loan 2020 so I’m serious for it this year cause a friend of mine got 2million through this platform too.
    Please I will need 2million or 5million to expand my business things are just to hard for me.. Please I’m hopefully waiting for a reply thank you.

  93. I have been applying for a long time but nothing comes out of it.hope I will be considered this time

  94. I’m on the process. I will appreciate any information and guidance to make this good gesture of the government a reality.

  96. Good evening sir I apply COVID-19 loan Tcf before I never see my responding letter to my email please sir 500,000 only I won’t upgrade my besiness thank sir

  97. As much as I know that this scheme is a good one to help masses, I guess its only for those who have CAC registered businesses, asides political motivation on the part of the officials in charge. Another father is the disbursement bottleneck. Here I expected what is meant for the households to be given without much ado from the applicants.
    However, some that are eventually luck to have this would not pay back after the duration. They see it as government free money. So who is deceiving who?
    In conclusion, loans are good for thriving of businesses if the two partners involved in giving and receiving are of corrupt-free minds. This is what is found wanting in the society today to the extent that Dangote, Adenuga, and the likes are running businesses on loans and debts with minimal thoughts of giving back.

  102. What is going on please I have be feeling form since many days now, please I just need a loan of 2million naira, help me with this am a single mother of 4kids

  104. I applied but up to date there is no development wish I think is just government don’t have intention to give out but we are still waiting.

  105. I tink ds a good development to d nigerians,expecially to d masses,only if it’s real n d governments r bn sincere to us…..

  106. I have applied before and received nothing, what could be the problems, I need the loan to expand my small business please.

  112. Enthusiasm shall rock my heart, if I can be a beneficiary in order to increase the efficiency of my farm work to boost our economy.
    Thanks!

  114. I want cbn loan to re-loan to market women at affordable interest rate. I have been giving to them but need more fund to make more accessible for more. Thanks

  117. I need a loan for farmers work, I will appreciate if my dream come true, thank you

  121. How do I apply for the loan? I got scammed last month of 500k …now my business is down, I need a loan that can enable me start up again.

  122. I have applied for the loan but no help for me pls I need a helper cos I want to apply again people of god

  126. Please i haven’t received any information about the loan i applied since last year.

  129. Pingback: NEXIT CBN Loan | How to Apply and Get CBN Loan Without Collateral – Jobs Update

  131. The last time that I applied, I learnt that it has been closed now they are always sending me massages that CBN COVID-19 has reopened yet one can not apply, when you put your BVN number where it is required, they will reply you that your BVN number is invalid even when you put the correct BVN number. If it is real as we are being sent the message, how will one get the right link to apply for the loan or is it a scam or they are using us to play

  133. Please I really need this loan …is almost 3years now and nothing yet. Will be totally grateful if I get this time.

  136. This will be extremely useful to Nigerians who will boost these amazing chance to fill throughout everyday life. It’s a welcome turn of events, I’m intrigued.

  149. I am a small scale business man, if I can get the loan it will surely help along way

  151. Actually I haven’t applied for the loan before but,I should be glad if am able to secure a loan that would be up to ten million naira for expansion of my farm, thank you in anticipation.

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