Last updated on March 21st, 2023 at 03:02 pm
Nirsal Microfinance Bank (NMFB) has resumed disbursement of the Covid-19 Targeted Credit Facility (TCF) for 2022, the bank said in a Facebook post, urging applicants to check the status of their application.
So, if you applied for the SME loan on the NMFB portal, all you need is to head back to the portal to check if your application is successful.
Unfortunately, hundreds of CBN COVID-19 loan applicants don’t know that applying isn’t enough, but a constant check on the status of your loan and keeping a record through invoices to track sales or services.
Note: This guide can also be used by those who applied NMFB non-interest loan
If your loan has already been disbursed, more details on how to repay can be found at https://infomediang.com/repay-covid-19-nirsal-loan
If you applied and don’t know the next step to take, we’ll show you how to check if your COVID-19 loan has been approved by NMFB or not.
The application has closed now, but some of our readers would not stop asking for the application links for NIRSAL MFB loan.
But before that, it’s pertinent to point out that two sets of COVID-19 support applicants can easily check their loan application status on the official portal.
- Small Medium Enterprises (SME)
These people are the Targeted Credit Facility (TCF) COVID-19 and there is a Beneficiary Information Management System(BIMS) where all applications go to immediately you click SUBMIT button during an application.
Targeted Credit Facility for COVID-19
Household and SME loans are part of the funding initiative of the Central Bank of Nigeria (CBN) to cushion the effect of the coronavirus pandemic.
There is also the Agric-Business Small and Medium Enterprises Investment Scheme, also known as AGSMEIS loan.
The stimulus package is meant to support households and Micro, Small and Medium Enterprises (MSMEs) who are greatly affected by the pandemic, which ravaged the entire world.
Nigeria isn’t alone!
As such the apex bank introduced the N50 billion Targeted Credit Facility (TCF) as a financial booster to families, and businesses affected by the pandemic.
Under COVID-19, you could access up to N25 Million. The amount you can receive ranges between 250,000 to N25 million.
So, your problem isn’t about the application but how to check if you will receive the CBN COVID-19 stimulus package, right?
Here is it….
How to check NIRSAL loan approval with BVN
Step 1: Head straight to Nirsal Microfinance bank official portal
Step 2: On top right-hand corner, click on the COVID-19 support link
Step 3: Tap on “Click Here to Provide Other Bank Account” which takes you to 1) SME, 2) Household
Step 4: if you applied for the Household category, tap on that option
Step 5: Input your 11-digit BVN to check if you will receive the stimulus package and hit validate BVN.
If your application was successful it takes you to the next page on what to do. Like the amount approved for you and agree to the terms and conditions if you want to take the loan and fill in your bank details.
How To Know If Your COVID-19 Loan Was Not Successful
You should receive an email if your loan is approved, but in case you didn’t know what to do next, follow the steps below to know your status
Follow the steps above to step 5
If your loan wasn’t successful, the message that pops up is “This BVN Detail Does not exist“
Some of the applicants who were successful revealed to us that they didn’t check with their BVN on NIRSAL National Microfinance bank portal. Rather, they received a confirmation SMS from NMFB. E.g
Dear Covid-19 TCF Applicant,
Kindly click on the links below to check if you have an approval.
further enquiries, call 09010026900.
Nirsal MFB loan Application Link
On the Targeted Credit Facility (TCF) COVID19 Beneficiary Information Management System(BIMS), you can check if your application was honoured, here are the application links:
- SME: https://covid19.nmfb.com.ng/SmeLoan
- Household: https://covid19.nmfb.com.ng/HomeLoans
You need to check covid-19 loan status if you didn’t receive a confirmation message from the NMFB
All loan applications can not be successful, so if you didn’t make it, that doesn’t mean it isn’t real.
For those who are asking how to apply for nmfb covid 19 loans, the application has closed at the moment. You can only follow up on your applications right now.