Government is set to disburse the sum of N2 billion naira to help small and medium business resuscitate again because of the effects pf Covid-19 towards the growth of businesses in Nigeria.
According to Abubakar Malami (SAN), the Attorney general of the Federation and Minister of justice in Kebbi State, he said that at least 3,000 owners of small and medium (SMEs) businesses would receive the Federal Government post Covid-19 grants in order to improve the state of their businesses and to ensure productivity.
Grants and loans amounting from N1 million to N5 million would be received by each entrepreneur. Also, 200 wheelchairs would be distributed to support people with certain disabilities.
This article explains the processes and information concerning the application protocols.
The application portal for 2021 is now open, interested applicants are encouraged to apply here
Who can apply?
Entrepreneurs which includes: farmers, SMEs ( Small and Medium Enterprises), artisans and other business sectors.
Application Categories
For Household
- FACILITY TYPE: Term loan
- SINGLE OBLIGOR LIMIT: N3 million naira.
- LOAN TENURE: Maximum of 36 months.
- MORATORIUM: At least 12 months.
- PRICING: 5% per annum till Feb., 28, 2021 and 9% subsequently.
- REPAYMENT STRUCTURE: By installment according to the nature of the enterprise.
For Small and Medium Enterprises (SMEs)
- FACILITY TYPE: Term loan
- SINGLE OBLIGOR LIMIT: N25 million naira
- LOAN TENURE: Maximum of 36 months.
- PRICING (unspecified)
- REPAYMENT STRUCTURE: By installment according to the nature of the enterprise.
How to Apply for COVID-19 Entrepreneurship Grant
- Login to https://nmfb.com.ng/Covid-19-support/
- Scroll down, then click on ‘click here to provide other Bank Account’
- Choose Household or SMEs
- Insert your BVN here to continue.
Once you followed the steps above, approval message would pop up instantly.
Have question? Go to the comment section below.
Yes
Why is it telling me that my bvn does not exist
Please, I need business loan for plantain and potatoe chips productions. I will be grateful if I am favourably considered. Thanks. CEO,Dewal Agroventures( Reg.not yet approves)
The process provided for the covid 19 household and smes loans is not working Sir.
Also want to plead that the covid 19 household loan l applied successfully last year may 2020 is not yet been given approval. Wish it will be given due consideration.
How would I apply?
Are you sure that this is for real? Because they are telling me that my BVN details does not exist.
Which way to follow because I’m interested in registering into this grant or loan.
Please how can I apply for it
What was the fate of the covid 19 loan application we have submitted in June 2020?.
I send my bvn severally but result shows that there is no info. about my bvn despite it is corect
It’s telling me that BVN details doesn’t exist, what can I do?
But they already closed the application 3 months back
How do I apply
How do I apply for the loan
i wan to know how to apply for loan
pls send me d link on d website to my email: blejane6@gmail.com.Thanks
babangidabello995@gmail.com
I like buhari work
They are rejecting my BVN saying that details does not exist. What is the problem
How to apply for covid 19 text?
Details of the covid 19 text?