NIB COVID-19 TCF/AGSMEIS Loan: Nirsal MFB Begins New Application

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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