Are you looking for where to loan capital for your agro businesses? Have you heard of the Nigeria Incentive-Based Risk Sharing System for Agricultural For Lending (NIRSAL) MFB Loan?
If you have not, then you need to read this article for more information on the NIRSAL MFB Loan which offers you an opportunity to get capital for your Agro businesses.
This article will provide you with information on how to access this loan and the requirements to apply.
NIRSAL MFB Loan 2024/2025
NIRSAL Microfinance Bank is a financial institution that offers loans to business persons who want to expand their businesses.
NIRSAL MFB aims to cater to the needs of businesses in the agricultural sector by facilitating the free flow of funds to farmers all over Nigeria.
This Microfinance bank was the channel CBN used to disburse funds to the COVID-19 loan beneficiaries. If you are a farmer or an agro-business owner who is looking for loan opportunities, read this article for guidance on how to access loans from NIRSAL MFB.
Before applying for a loan at NIRSAL MFB there are requirements that loan seekers are expected to meet, see the requirements below.
Requirements For Nirsal Mfb Loan Application
Individuals interested in taking loans at NIRSAL MFB are expected to meet the following requirements:
- Farmers interested in the NIRSAL Loan are required to open a NIRSAL Microfinance bank account.
- Applicants must complete an application online using their approved and official portal at https://nibloans.nmfb.com.ng/.
- Individuals who are interested in this loan are expected to provide their BVN (Bank Verification Number) to NIRSAL to be profiled properly.
- Applicants must also be prepared to provide a means of identity for their company. The company must be registered with the Corporate Affairs Commission.
- Business owners must submit their business plan to the bank and this should include information on the company’s operation pattern
Requirements For Creating An Account With NIRSAL Microfinance Bank
The following are the items required to open an account with NIRSAL Microfinance Bank:-
- One recent clear passport photograph.
- A means of Identification (Driver’s License, International Passport, National Identification Number, Voter’s Card, etc)
- Public Utility Receipt dated within the last three months (PHCN bill, water rate bill, tenement rate, rent receipt, telephone bill)
- Account opening form duly completed.
How to Apply for NIRSAL MFB Credit Loan 2024
Individuals interested in NIRSAL MFB should follow the steps below to access the loan.
- Visit the NIRSAL MFB Credit Loan Registration Portal at www.nmfbloans.nmfb.com
- Select the “NON-INTEREST FACILITY” option.
- Once the NIRSAL MFB Credit Loan column is open, click on the Apply button.
- A pop-up window will appear with two options.
- Select any of the options that suit your needs and begin your application.
- You will be required to fill out an application form,
- You will be required to provide permission for a background check to ascertain that you are eligible for the loan you applied for.
- You will be contacted in the morning and an appointment will be scheduled to discuss your application and financial requirements.
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