COVID-19 Targetted Credit Facility: Again, NMFB resumes payment, Approval follows | Never loose hope

The Nirsal Microfinance Bank has this evening commenced payment of the COVID-19 Targetted Credit Facility Loan to applicants whose loans were approved in November/December, 2020 after a hectic Pre-qualification of the Applicants of the Nigeria Youth Investment Fund (NYIF) also managed by the bank.

With a warmth of ecstacy, Emrald John upon recieving an alert of N208,941 writes, " My COVID-19 Alert finally landed after being approved since 23rd November, account created for me 30th December. It just landed. Don't loose hope, your miracle is on the way."

Wow! that was heart warming and encouraging. For the COVID-19 Targetted Credit Facility, Approval is the first blessing for an applicant.

Waiting for approval or Acceptance of your loan offer, there are chances that you may not be sent approval notification, and you are likely to miss your offer if you fail to accept it within 1 week.

Hence, Applicants of the scheme need to keep checking their status by following the method below:

1. Open https://covid19.nmfb.com.ng

2. When it loads, select the type of Loan you applied for. Either SME or Household

3. Enter your BVN. Do not worry, the website is safe. That's the official website of Nirsal Microfinance Bank for the COVID-19 TCF just as https://nyif.nmfb.com.ng is for Nigeria Youth Investment Fund and https://nirsalmfb.caderp.com/Account/Register for AGSMEIS Loan Scheme.

4. A response will be displayed when you enter your BVN.

(A) If it says your Loan has been approved, it will load your details asking you to accept your Loan offer. Proceed to complete the process and enter bank name and your account number. Avoid mistakes here.

(B) If it says 'Your loan has not been approved, check back later, kindly check back later as they said.

(C) If it however displays "BVN does not exist", do not panic. Just keep checking back from time to time as approval is on going and hope is high.

Always note that Approval is done in batches and not a sole decision of the Nirsal Microfinance Bank -the NFMB sends application to CBN, CBN reviews and approves, gives order to NMFB to disburse the fund. According to CBN, the loan approval/disbursements is based on the activity, cash flow, and industry size of the beneficiaries. Just be patient