CBN Covid-19 Loan-Requirements & how to apply

CBN Covid-19 Loan


Contents.

  • What CBN loan is all About.
  • Eligibility for Household Covid-19 Loan.
  • Requirements for Household Covid-19 Loan.
  • MSMEs/Corporate Enterprises Loan Info.
  • Requirements for MSMEs/Corporate Enterprises Loan Info.

CBN Covid-19 Loan-Requirements & how to apply

CBN Covid-19 Loan-Requirements & how to apply

What CBN loan is all About

CBN Covid-19 Loan-Requirements & how to apply; The central bank of Nigeria has released a fat sum of fund to help restore Nigerians businesses and to boast up the economy of Nigeria. It is made known that the Central Bank of Nigeria (CBN) has currently released # 107.45 billion to Nigerians to have their businesses restored. It is also made known that the fund given as support to help boast up the economy of Nigeria was #1.5 trillion, so far now  #107.45 billion was judiciously disbursed to Nigerians to have their businesses restored.

The Monetary Policy Meeting for May 2020, investigate with a factual data showing the total sum disbursed by the Central Bank of Nigeria (CBN). The data proved that the sum of #107.45 billion was disbursed to Nigerians to have their businesses restored.

The total number of Nigerians benefiting from the CBN loan is 14,331 under the #50 billion Targeted Credit Facility for Households and SMEs, #4.1 billion has been disbursed to 5,868 successful beneficiaries.

The COVID-19 Support fund is distributed by NIRSAL Microfinance Bank when an application is successful, it comes with an Interest rate under the intervention 5% P.A.  up to 28th February 2021, the interest will revert to 9% P.A.  as from 1st March 2021, the steps to follow are below  for a successful application.

Check here; Steps to Apply the Current N-Power Nigeria

Eligibility for Household Covid-19 Loan

Every household applicant must provide verifiable evidence of their livelihood adversely affected by COVID-19, the applicant must allow NIRSAL Microfinance Bank (NMFB) to assess their financial records. The maximum fund to be disbursed in house hold loan is #3,000,000

 

Requirement for Household Covid-19 Loan

· Your Loan application letter
· Your completed application form
· Your executed Guarantor form
· Your valid  ID (national ID, driver’s license, voter’s card or international passport)
· Your Current utility bill
· Your 2 recent passport-size photographs
· Your BVN

 

MSMEs/CORPORATE ENTERPRISES LOAN INFO

(1) Mini SME approve fund is  between #3million to #10millon
(2) SME approve fund is  between #10.1millon and #25millon
Every household applicant must provide verifiable evidence of their livelihood adversely affected by COVID-19, the applicant must allow NIRSAL Microfinance Bank (NMFB) to assess their financial records.

REQUIREMENTS FOR MSMEs/CORPORATE ENTERPRISES LOAN

· Your Loan application letter
· Your completed application form
· Your executed Guarantor form
· Your valid ID (National ID, Driver’s License, Voter’s Card or International passport)
· Current utility bill
· Your 2 recent passport-size photographs
· Your  BVN

Check here; Steps to Apply the Current N-Power Nigeria

 

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