NFMB Begins Non-Interest Loan, Approves New Batch Of Beneficiaries

The Nirsal Microfinance Bank has announced the selection of a new batch of COVID-19 Non-Interest Banking Window for TCF and AGSMEIS beneficiaries. NMFB announced this in a statement on Wednesday, stressing that there is no price for applicants to access its loan offers.

Keep in mind that the COVID-19 Non-Interest Banking Window for TCF and AGSMEIS focuses on Asset Financing rather than Cash Disbursement like the COVID-19 Targeted Credit Facility Loan and the AGSMEIS Loan do.

According to the Bank, “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.”

According to the NMFB, an eligible recipient of the Scheme must have been harmed by the COVID-19 Pandemic, be at least 18 years old, have a Bank Verification number, and have run their own business.

Existing COVID-19 Targeted Credit Facility Loan and AGSMEIS Loan Scheme beneficiaries are not eligible for the Non-Interest Banking Window for TCF and AGSMEIS, according to the bank.

The Nirsal Microfinance Bank further highlighted that the COVID-19 Non-Interest Banking Window for TCF and AGSMEIS loan scheme is open to all Nigerians, not just Muslims.

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The beneficiaries were also reminded by the NMFB not to sign any Vendor’s Asset/Acceptance note or invoice until they confirmed that the good they had requested matches what was provided.

The Scheme’s portal remains http://nibloans.nmfb.com.ng/nmfbloanapplicationportal/

To accept the loan offer, all qualified candidates must follow the instructions supplied through text message.

Source: Nyscinfo

Updated: February 6, 2022 — 2:19 pm

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Stephen Adoga

Stephen Adoga is a trained journalist, researcher, creative writer, content creator, video editor and freelancer. He studied Mass Communication at the Lagos State Polytechnic, Ikorodu, where he acquired requisite training for the practice of journalism. He loves the media. His interest mostly lies in the print medium where his creative writing skill makes him a perfect fit.

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