If you are interested in NMFB Commercial Loan then you can now access the online registration form via https://nmfbloans.nmfb.com.ng and apply.
The Commercial Lending and COVID-19 Targeted Credit Facility is a stimulus package for Micro, Small and Medium Enterprises (MSMEs) and small household unit to help them stay afloat during this pandemic era.
Who IS Eligible For NMFB Commercial Loan?
To be eligible for the loan, You should have the following:
- Moveable asset(s) that is duly registered on the National Collateral Registry (NCR);
- Deposit of title documents, in perfectible state;
- Deed of Debenture (for stocks) in perfectible state;
- Irrevocable domiciliation of proceeds;
- Two (2) acceptable Guarantors;
- Personal Guarantee of the promoter of the business;
- Life Insurance of the Key-Man, with NMFB noted as the First Loss Payee; and
- Comprehensive Insurance over the asset.
How Much Can You Access?
The maximum amount for each MSMEs is pegged at 25 million naira. There are lot of processes you must undergo before you can be granted the loan. CBN will take into consideration your business cash flow, the size of your business, as well as your business activities.
How To Apply For NMFB Commercial Loan
Here is how you can apply for NMFB Commercial Loan Application Form. We have made the whole process simpler by given a clear explanation about the whole process :
- SECTION 1: log on to NIRSAL MFB Loan Portal here : https://nmfbloans.nmfb.com.ng/nmfbloanapplicationportal when the link opens you are to fill in your details and that of your business.
- SECTION 2: CHOOSE YOUR APPLICATION STATUS
- SECTION 3: YOU CAN SELECT A LOAN PRODUCT TO PROCEED Loan Products
- SECTION 4:THEN ENTER YOUR PERSONAL INFORMATION
- SECTION 5: SUBMIT YOUR APPLICATION