Five Key Things To Know About NMFB Non-Interest Window Banking Loan As Portal Reopens

Five Key Things To Know About NMFB Non-Interest Window Banking Loan As Portal Reopens

The Nirsal Microfinance Bank has reopen portal for it’s non-interest banking window loan application as we will be walking you through 5 key things you need to know about the Loan before applying.

You may also want to read How To Easily Access CBN AGSMEIS SME Loan

The Federal Government launched Non-Interest Banking window loan portal through the Central Bank of Nigeria (CBN) in cooperation with Nirsal Microfinance Bank in August 2021 for businesses and households that have been impacted negatively by the Covid-19 pandemic.

Below are the 5 key things to know about the NMFB Non-Interest Banking window loan

1. All Credit Facilities which the Non-interest Banking Window of the Targeted Credit Facility TCF are for the purchase of Equipment/Goods ONLY.

2.  There is no CASH equipment to the facility. The credit facility for business will be on the principle of Non-Interest, risk sharing and reward.

3. All equipment/goods will be purchased for successful applicants by VENDORS APPOINTED BY NMFB and delivered to the beneficiaries within 48 hours after payment to the vendor.

4. Customers are not expected to pay CASH to any vendor before or after delivery of equipment or goods and vendors are not allowed to provide cash to Applicants.

5. Financing limit for MSME’s is N2,500,000 while Household is N1,000,000.

You may also want to read How To Check Your NMFB Non-Interest Banking Window Loan Status/Approval

How To Apply

Interested applicants should kindly visit the official website on www.nmfb.com.ng

For further enquires, contact 09010026900.