Latest News On Nirsal Microfinance Bank Loans For Today Tuesday 14th December 2021

Latest News On Nirsal Microfinance Bank Loans For Today Tuesday 14th December 2021

Welcome to Flippstack, we have gathered all the latest happenings on the Nirsal Microfinance Bank Loans which we will be sharing with you in this article, so make sure you read until the end.

Before we continue, if you are still yet to know the nearest NMFB Branch around you, then click HERE to get the full list of Nirsal Microfinance Bank Branches in Nigeria.

Below are the latest news On Nirsal Microfinance Bank Loans For Today Tuesday 14th December 2021

1. Nirsal MFB Disburses N503b Loans To Applicants Since Inception

Nirsal Microfinance Bank (NMFB) has disbursed loans valued at over N503. 273 billion to over 881 thousand  Nigerians and businesses since inception.

Data from the institution which was carried by Vanguard news indicated that most of the facilities were granted under the  COVID-19 Intervention Fund released by the federal government to cushion the effect of the COVID-19 pandemic on households and small businesses.

Some of the beneficiaries include individuals and families whose breadwinners lost their jobs in 2020 as a result of the Coronavirus (COVID-19) pandemic.

They were made up of 612,321 households that received loans ranging from N250,000 to N1 million totaling N240. 083 billion.

Similarly, 103,185 Small and Medium Enterprises (SMEs) received loans valued at N104. 023 billion between 2020 and December 2021

Households that are Non-Interest Beneficiaries (NIB) of the NIRSAL MFB loans numbering 21,027 have so far secured facilities amounting to N9.091 billion.

Small and Medium Enterprises under the Non-Interest scheme (NIB SME) numbering 2,710 have accessed N1. 057 billion while 31,067 Agric Small Medium Enterprises Scheme (AGSMEIS) beneficiaries have accessed N116. 001 billion from NIRSAL MFB in one year.

105,244 Anchor Borrowers’ Programme (ABP) successful applicants have equally received loans amounting to N31. 001 while 5,527 Nigeria Youth Investment Fund (NYIF) have also drawn down N1.009 billion loans.

Their efforts in 2021 alone have made them receive awards from 23 groups who applauded them for their effort to provide liquidity for seriously impacted households and businesses.

2. Successful Completion of AGSMEIS Application Process is Not A Guarantee For Loan Approval – NMFB

Nirsal Microfinance Bank has revealed that successful completion of the AGSMEIS application process is not a guarantee that the beneficiary’s loan will be approved.

NMFB disclosed this on their official Facebook page when replying to an angry AGSMEIS applicant who narrated how he has paid and undergone the necessary AGSMEIS training and also went further to do an online assessment test but yet his Loan is not yet approved.

Replying to the applicant, NMFB stated:

“Dear Harry, please note that successful completion of the application process is not a guarantee for the loan, as all successful applications submitted must meet the bank’s risk acceptance criteria. Thank you.”

However, the AGSMEIS Loan portal is still open for new applications, to get full details and procedures on how to apply, kindly click HERE

3. APSAN Visits Nirsal Microfinance Bank MD, Commends The Bank’s Effort

The officials of the Agricultural Produce Sellers Association of Nigeria (APSAN) paid a visit to the Executive Director of Nirsal Microfinance Bank, Mr. Darlington Lawson at the Head Office of NIRSAL Microfinance Bank.

This was disclosed by Nirsal Microfinance Bank through their official Instagram account where they stated that the President of APSAN, Comrade Aloys Akortsaha commended the bank’s effort in ensuring that Agribusiness dealers were empowered through intervention funds like the Covid-19 Targeted Facility (TCF), AGSMEIS loan and the Anchor Borrower’s Program.

According to him, “it is the first time in the history of Nigeria that a programme or policy affects the grassroots directly without influence by powers that be.” He revealed that so far, over 20,000 farmers have benefited from the loan scheme.

Mr. Darlington Lawson appreciated the group for recognizing the impact of the intervention loan on their members.

That’s all for the Latest News On Nirsal Microfinance Bank Loans For Today Tuesday 14th December 2021, make sure to share this article and always come back from time to time for more updates.