COVID-19 Targetted Credit Facility Loan: June applicants, Nirsal begins disbursement |Check your Status

Some of the  June applicants of the COVID-19 Targetted Credit Facility Loan, a palliative loan from the Central Bank of Nigeria disbursed through the Nirsal Microfinance Bank which featured the Household Loan and SME Loan to cushion the effect of COVID-19 Pandemic on SMEs, have expressed joy towards the approval of their loans.

The June/July applicants had cried out to the Federal Government to consider them in the remaining part of the allotted funds as most of those who had previously rejoiced of recieving the loan, were mostly April and May Applicants.

Recall >>>COVID-19 Targetted Credit Facility Loan: June and July applicants lament

The Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, had on 15th September, during the 13th Conference opening Ceremony of the Chartered Institute of Bankers of Nigeria (CIBN) in Abuja, disclosed that N69 Billion out of the N100 Billion earmarked as COVID-19 Targetted Credited Facility Loan to Households and Small and Medium Entreprise Businesses severely affected by the COVID-19 Pandemic has been disbursed.

The ecstasy of the approval of the long awaited loan has spiced hope of the Small and Medium Enterprises as they had anticipated boosting  their businesses through the low interest loan of upto N3million for a maximum of 3 years duration at 5% interest rate for the first year and 9% interest rate for the following years, as many SMEs battle the post COVID-19 period.

If you applied but have not gotten the approval text message or e-mail, you can check status of your application as follows:

1. Click here

2. Select your Category

3. Enter your BVN

4. Get response on the status of your application (if approved, proceed to enter account details. If not yet approved, just be patient)