There are hundreds of Nigerians who have nice business ideas but are being impeded by a lack of access to financial support. And one of the coolest and cheapest ways to get capital for your business is to have access to grants or low-interest rate financing.
After news filtered in today that the Senate has approved a loan of N2.3 trillion to fund the 2021 budget deficit of the President Muhammadu Buhari-led government, there was excitement among the 2016 and 2017 exited N-Power beneficiaries. Their excitement was hinged on the hope that part of the loan had been set aside for them.
Graduates from Nigerian universities will soon have access to low-cost loans to support their small businesses and will have the opportunity to expand and become employers of labour, the governor of the Central Bank of Nigeria (CBN) has promised. Godwin Emefiele made the promise at the 51st Convocation ceremonies at the University of Lagos on Monday, July 5, 2021.
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. Unfortunately, hundreds of the CBN COVID-19 loan applicants don’t know that applying isn’t enough, but a constant check on the status of your loan is very important. So that you don’t miss out!
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.