What To Do Next After Your NMFB Non-interest Banking Loan Has Been Approved

What To Do Next After Your NMFB Non-interest Banking Loan Has Been Approved

It’s no longer news that Nirsal Microfinance Bank has started approving a new batch of Non-Interest Banking Window Loans but some beneficiaries are left with the question of what to do next after receiving the approval message.

In this article, we will be walking you through what to do next after your NMFB Non-interest Banking loan has been approved, so make sure you read until the end.

After receiving the loan approval offer, the next thing to do is to accept your loan offer which is the second phase of the NIRSAL NIBLoans that requires you to do the following when you received a notification that your loan has been approved:

• Generate the Offer Letter and accept it
• Generate the Undertaking to Buy Agreement and accept it
• Input the details of the items to be financed. This must conform with the approved amount as shown on your offer letter.
• You will finally attach invoices for all the items to be financed.

Below is the step-by-step guide on how to carry out this acceptance of the loan offer on the Nirsal non-interest loan portal.

1. Visit the NIBLOAN Portal via https://nibloans.nmfb.com.ng/ or the link sent to you in the SMS, it looks like https://nibloans.nmfb.com.ng/noninterestlendingtcfhouseholdofferletter/TCFNXXXXXX
2. Select Returning to Check Application Status
3. Input your BVN and Last Name as it is arranged on your BVN.
4. Skip the Application Reference Number field
5. Check the Security Box (Google Captcha)
6. Proceed to click on Submit

Four Important Things To Know About NMFB Non-interest Banking Window Loan

Below are four important things all NIB applicants need to know about the 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.

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.

Note: The NMFB Non-interest Banking Window portal is still open for new applicants, kindly visit their official website at http://www.nmfb.com.ng/ to apply.