The NIB COVID-19 Loan/AGSMEIS Loan portal for the COVID-19 Targeted Credit Facility and AGSMEIS Loan has been reopened by the Nirsal Microfinance Bank.
The beneficiaries of the new NIB COVID-19 Loan application can now select Vendors independently on the revised NIB COVID-19 Loan Portal based on their preferred locations, the NMFB management stated in announcing the portal’s reopening today.
The NMFB administration had earlier made it clear in a statement that everyone in Nigeria, regardless of religious preference, is eligible to apply for the NIB COVID-19 Loan Scheme. In other words, the NIB COVID-19 Loan is not just for Muslims.
However, NMFB highlighted that in order to be eligible for the Scheme, a candidate must have been adversely affected by the COVID-19 Pandemic, be at least 18 years old, have a Bank Verification number, and have been operating their own enterprises.
NMFB noted that the Non-Interest Banking Window for TCF and AGSMEIS focuses primarily on asset Financing other than direct cash delivery to the beneficiaries, differentiating the Scheme from COVID-19 Targeted Credit Facility Loan Scheme.
“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 further stated that applicants for the NIB COVID-19 TCF/AGSMEIS must not already be beneficiaries of the COVID-19 Targeted Credit Facility and AGSMEIS Loan Scheme.
The Nirsal Microfinance Bank mentioned that the Non-Interest Banking Window for TCF and AGSMEIS has a 3 years Tenure and a 6 months Moratorium in its explanation of the Scheme.
Interested applicants can apply for the NIB COVID-19 loan scheme through the improved portal https://nibloans.nmfb.com.ng/noninterestlendingtcfhousehold.
This information was first published on nyscinfo.com DMCA PROTECTED.
Source: Nyscinfo
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