NIRSAL Non-Interest Loan for AGSMEIS and TCF 2021 – nibloans.nmfb.com.ng

Apply for NIRSAL Non-Interest Loan for AGSMEIS and TCF Household and SME 2021 – nmfb.com.ng: The Nirsal Microfinance Bank (NMFB) has opened the Non-Interest Banking Loan (NIBLoans) for AGSMEIS & TCF (Household and SME) In line with the CBN’s decision to extend a non-interest window to businesses and households that have been impacted negatively by the COVID-19 pandemic.

The NIRSAL Microfinance Bank’s Non-Interest Loan for AGSMEIS and TCF portal is now live for applicants who are eligible to apply.

Check: Conditional Cash Transfer 2021/2022 – How to Receive Payment

NIRSAL Non-Interest Loan Eligibility and Requirements

1. MSME with 1 5 staff and verifiable evidence of business activities adversely affected as a result of the pandemic with evidence of job protection for its staff.
2. Hospitality businesses, health (pharmaceuticals and medical supplies) Airline service providers, manufacturing/value addition, trading, and any other income-generating activities as may be prescribed by CBN and are Shari’ah compliant.

The financing limit for MSME’s is N2,500,000 while Household is N1,000,000.

How to Apply for NIRSAL Non-Interest Loan 2021.

The Nirsal Micro-Finance Bank Portal for the Non-Interest Banking Loan Portal is now live, below are the procedures and application links for the categories available for application.

To begin your loan application, make sure you read the above requirements and then proceed with the category that you qualified for below.

AGSMEIS NON INTEREST LOAN APPLICATION

Our Agsmeis Non Interest Facilities will assist you in the process of building a business or expanding an existing business, and maintaining your lifestyle.

PRODUCT NAME: MICRO LOAN (PETTY CASH NOW NOW)

DOCUMENTATION REQUIRED

• Loan application letter
• Duly completed application form
• Guarantor form
• A valid means of ID (national ID, driver’s license, voter’s card or international passport)
• 2 recent passport-size photographs

FACILITY TYPE: Term Loan

MAXIMUM LOAN AMOUNT: N300,000

MAXIMUM LOAN TENOR: 12 Months

PRICING: 20% p, a

FEES: 2% upfront (1% Management and 1% commitment fee)

REPAYMENT STRUCTURE: Monthly repayment of both principal and interest

COLLATERAL

• No Guarantor from N50,000 to N149,999 but MUST domicile daily sales proceed
• Acceptable Guarantor (1) from N150,000 to N300,000
• Daily sales proceed

GSI

• We will recover this money from your accounts
• You must accept this as part of offer letter

NON-INTEREST AGSMEIS APPLICATION LINK – https://nibloans.nmfb.com.ng/agsmeisnoninterestlending

NON-INTEREST TCF CREDIT APPLICATION [HOUSEHOLDS]

Our Non-Interest Facilities to Households will assist you in the process of building businesses or expanding an existing business, and maintaining your lifestyle.

• Product Name: Non-Interest Targeted Credit Facility (TCF-NI)
• Facility Type: Term Credit Facility
• Maximum Facility Amount: Household: N500,000.00
• Profit margin: 9%
• Maximum Payment Period: 36 months

NON-INTEREST TCF HOUSEHOLD APPLICATION LINK – https://nibloans.nmfb.com.ng/noninterestlendingtcfhousehold

NON-INTEREST TCF CREDIT APPLICATION [SMEs]

Our Non-Interest Facilities to SMEs will assist you in the process of building businesses or expanding an existing business, and maintaining your lifestyle.

• Product Name: Non-Interest Targeted Credit Facility (TCF-NI)
• Facility Type: Term Credit Facility
• Maximum Facility Amount: SME: N2,500,000.00
• Profit margin: 9%
• Maximum Payment Period: 36 months

Global Standing Instruction: In case you default, payments will be recovered from your accounts. Note that you must accept this as part of the offer letter.

Application Process: The process of the application will take place in three distinct phases:

Phase 1: Application for Financing

Apply for the TCF-NI facility by providing relevant personal information and the business to be finance.

Phase 2: Acceptance of Offer and other Agreements

You will be notified when your application is approved and required to do the following:

• 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.

Phase 3: Taking delivery and Execution of Murabahah Agreement

Upon fulfillment of Phase 2, wait for the disbursement of funds to the proposed vendor. The funds will be used to purchase equipment and raw materials from the vendor. Either NMFB or you as its agent will then be assigned to take delivery of the assets. After taking delivery, you will be required to execute the murabahah agreement on the final stage of the contract.

NON-INTEREST TCF (SME) APPLICATION LINK – https://nibloans.nmfb.com.ng/noninterestlendingtcfsme

If you have questions regarding this Loan Application, kindly use the comment section, and we will address the challenges and questions you might want to know about.