The portal for applications for the COVID-19 Targeted Credit Facility Loan has been reopened by Nirsal Microfinance Bank.
This development was disclosed on the bank’s Facebook page Monday, urging interested applicants to apply for the loan.
The loan initiative was launched by the Central Bank of Nigeria (CBN) through Nirsal Microfinance Bank, in partnership with the Bankers Committee, and other major stakeholders.
As part of the various schemes established by the CBN to mitigate the effects of the pandemic on Micro, Small, and Medium Businesses (MSMEs).
The apex bank allocated the sum of N50 billion to MSMEs as a stimulus package, and the disbursement of the loan to each business hinges on their financial output.
Through the loan scheme, businesses are entitled to a maximum of N25 million.
Other beneficiaries of the loan facility are households, and they can access loan of up to N3 million.