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NMFB has issued a fresh directive to TCF and AGSMEIS loan applicants.
News Online reports that the Nirsal Microfinance Bank have sent a new directive to Covid-19 Targeted Credit Facility (TCF) and Agri-Business/Small and Medium Enterprise Investment Scheme (AGSMEIS) Loan Applicants on what to do in order to avoid being scammed, so if you applied for any of this loans, make sure you read until the end.
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This online news platform understands that the Nirsal Microfinance Bank has warned TCF applicants that the Covid-19 Targeted Credit Facility is a loan and not a grant.
It also brought to their knowledge that NMFB will not ask anybody for money in order to access loan.
This was disclosed in a post on the official Instagram account yesterday, where it stated that:
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Dear Customer,
Note that the Covid-19 Targeted Facility is a loan and not a Grant.
Nirsal Microfinance Bank will never ask for money to help you access the Covid-19 Targeted Credit Facility or AGSMEIS Loan.
Never pay anyone who seeks to collect money from you.
All NMFB applicants should take note of this, don’t pay money to anyone in order to facilitate your loan process, they will only scam you and get away with your money.
So kindly adhere to the above warning from Nirsal Microfinance Bank and be patient for your loan to be approved.
How does NMFB AGSMEIS Loan work
The steps below are ways to get access to AGSMEIS loan to start and also grow your business:
- You must get Trained: Attend important, or compulsory training with a CBN-Certified EDC.
- Apply for the loan: Attend training which is compulsory with a CBN-Certified EDC.
- Receiving of funds: loans are paid to the beneficiaries account. candidates who are not qualified are given feedback.
- Get Supportive service from Business: The Entrepreneurship Development institute helps you to implement a plan on business and also provide support service to business commercially.
- Making of sales: You can sell products and render services inorder to pay back loans and make profit.
- Repayment of loan: When running your business keep proper records , monitor sales, and expenses in-order to make maximum profit and re pay loan.
You can now access affordable loans to start and grow your business with NMEFB, your true MSME partner An initiative for suitable employment generation and development.
Check Out Frequently Asked Questions about NMFB AGSMEIS Loan
Here is a collection of Most Asked Questions about the AGSMEIS Scheme. If you can’t find the question you wish to get answers to, please reach us on Twitter.
How do I access the loan?
Interested applicants are to visit https://agsmeisapp.nmfb.com.ng/onboarding and create an account which will enable them start the application process, or visit any of the NMFB Certified EDIs to guide
What is the interest rate for this loan?
The interest rate is currently at five percent (5%) per annum.
Do I need collateral?
No, this loan scheme does not require a collateral.
Do I need collateral?
No, this loan scheme does not require a collateral.
Has disbursement started?
Yes we have disbursed over N95B and this is still ongoing.
