APPLY NOW FOR YOUR CBN COVID 19 LOAN FOR SMEs

The CBN COVID 19 Loan Application is given for the intervention of COVID 19 vulnerable in the country.

Household application is currently closed, however, the SMEs application is still ongoing.

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To apply go to the website via https://nmfb.com.ng/covid-19-support/

The Nigeria Apex bank, the Central Bank of Nigeria (CBN)  instituted the N50 billion COVID-19 TCF  for households and SMEs to mitigate the harsh economic impact of the coronavirus pandemic currently in the country.

However, the CBN Loan Application portal is open for entry and thousands of applicants have already applied.

To start with, we would like to look at the type of business that is acceptable, please note that the industries listed below are not limited and should not be weary if your industry is not listed.

  • Acceptable Businesses for the CBN Loan Application portal Entry
  • Agricultural value chain activities,
  • Manufacturing & Cottage Industries,
  • Artisans,
  • Services,
  • Trade and general commerce,
  • Renewable energy or energy-efficient products and technologies, and
  • Any other income-generating projects as may be prescribed by the CBN.

REQUIREMENTS FOR THE CBN COVID 19 LOAN

Here are the requirements for the CBN COVID 19 Loan application for SMes

  • Registered business with CAC
  • Evidence of tax payments
  • BVN
  • Letter of Introduction
  • Passport photo of you and guarantor
  • Valid ID card

THE CBN LOAN APPLICATION PORTAL 2021 (HOW TO APPLY)

Below are steps you should take to apply for the CBN COVID 19 Loan.

Furthermore, it is important to know that the steps you took above are the first step, once your application is approved, you will be contacted to verify your BVN through the website https://covid19.nmfb.com.ng/SmeLoan thereafter, you will acknowledge the receipt of the application.

THE CBN LOAN APPLICATION PORTAL 2021 (HOW TO APPLY)

Herein are steps to apply for the CBN COVID 19 Loan.

Meanwhile, it is important to know that the steps you took above are the first step, once your application is approved, you will be contacted to verify your BVN through the website https://covid19.nmfb.com.ng/SmeLoan thereafter, you will acknowledge the receipt of the application.

Conditions for necessary for the CBN COVID 19 Loan Application

  • Flexible and moveable collateral options shall be
    admitted and registered under the Collateral Registry
  • Forfeiture Undertaking and Power of Attorney
    agreement to be signed by the customer, giving NMFB
    rights to take over pledged assets in the instance of loan
  • Insurance cover on the asset financed or asset availed
    as flexible collateral, with the NMFB noted as the first
    loss payee.
  • The loan amount must match the loan repayment plan and
    loan purpose.
  • Domiciliation of proceeds with NIRSAL Microfinance
    Bank

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