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Since the application for COVID-19 Targeted Credit Facility began, a lot of applicants who got loan offers have had to face the challenge of receiving their funds in their designated bank account.
Over time, you would hear banking institutions and money lenders mention terminologies like tenor and maturity. Some people use the two words interchangeably.
Lagos State Government recently said it had dolled out over N100 billion to Micro, Small, and Medium Enterprises. Research conducted by our team shows that the state government is massively granting loans to small business owners in the commercial city.
Most times, people apply for a loan and ask for the date of repayment without understudying the interest rate. It’s pertinent to note that a loan should be the last resort for your business
The management of Fidelity Bank through its SME Radio Forum has announced the launching of four new funding schemes to support Small Scale Enterprise (SME) and Medium and Small Scale Enterprise (MSME) in Nigeria.
Hundreds of Nigerians who applied for funding for their businesses during and post COVID-19 are worried that their application was rejected. Some of those whose applications were rejected concluded that the funds were only given to those who are “connected” to political heavyweights.
Every loan initiated by the Federal Government has a purpose and mostly the funds are managed by the Bank of Industry (BoI). One of them is the National Automotive loan. Is there a brand of vehicle that isn’t on Nigeria’s roads? Nigeria is a huge market for all kinds of vehicles.
A few months ago, we informed you that you can own an apartment in Nigeria with as low as N2, 000, 000 under the National Social Housing Programme. Today, the Federal Mortgage Bank of Nigeria reveals that it has disbursed close to N300 billion under the housing scheme.
Nigeria’s government has finally shown its interest to massively invest in housing. It’s doing this by building 300,000 houses for interested Nigerians across the country under its programme called National Social Housing Programme (NSHP)
Nigeria’s apex bank has barred Payment Service Banks (PSBs) in Nigeria from granting loans. It also barred the PSBs from accepting foreign currency in its latest guidelines seen by InfomediaNG. This means that the PBS can no longer grant any form of loans, advances, and guarantees, directly or indirectly, to their customers.
In October 2019 the Managing Director of Nigeria’s Bank of Industry (BoI), stated that hundreds of Nigerians failed to pay back the loan they get from the bank. “Some of them treat the loans given to them like it’s their own share of the share of the national cake.”
There have been worries over how beneficiaries of the NIRSAL loan can repay. Some of them say all efforts to repay the loan proved abortive. The first thing you need to pay attention to when taking a loan is the maturity date that is the due date for payment.
I applied for the SME loan on NIRSAL Micro Finance Bank (NMFB) portal in 2020, a few weeks after, all I needed was to head back to the portal to check if my application was successful.
The Bank of Industry (BOI) is a Federal Government-funded industrial financing institution. The bank has a wide range of loans to support industries that contribute to the Gross Domestic Product (GDP), one of such funds is Cassava Bread Development Fund.
We received an email a few hours ago from one of the subscribers expressing his concern over one of the government loans he applied for. He was unlucky. He was more worried because some of his colleagues he assisted in the loan application were successful.
I applied for one of the available COVID-19 loans of the Central Bank of Nigeria sometime in 2020. To my surprise, my Nirsal Microfinance Bank (NMFB) account was credited. I was elated because it would help me to expand my business. But never did I know I would face other rounds of the hurdle. But I later figured it out.
The Central Bank of Nigeria Private Sector Accelerated Agriculture Development Scheme (P-AADS) Fund is specifically designed to boost agric produce across Nigeria where a maximum of N2,000,000,000 can be accessed by agripreneurs.
The Nirsal MicroFinance Bank has alerted the general public about a fake NMFB loan application link that is being circulated online. It urged members of the public not to hand over their Bank Verification Number (BVN) to a stranger.
NIRSAL Micro Finance Bank (NMFB) has disowned members of his staff that are purportedly exploiting applicants of the Agri-Business Small and Medium Enterprise Investment Scheme (AGSMEIS).
Less than 24 hours ago, a friend shared a loan payment evidence he received from one of the Nigerian financial institutions for his small data service company.