Home Business and Finance Nmfb Household Loan Check with BVN Nigeria: How To Check Covid-19 Loan Approval

Nmfb Household Loan Check with BVN Nigeria: How To Check Covid-19 Loan Approval

by Favour James
How To Check Covid-19 Loan Approval

Here in this article we’ll discuss how to check Covid-19 loan approval, Nmfb Household loan check with BVN Nigeria, how you can apply for Nmfb Household Loan and also where to apply.

The NMFB Household Loan is set up by the NIRSAL Microfinance Bank with the aim of helping and financing Nigerian businesses by granting them loans. 

The Central Bank of Nigeria (CBN) has granted Nmfb a license to provide specialized banking services. NMFB was incorporated as a Private Limited Company in 2019 and began operations fully in Nigeria.

In a Facebook post, Nirsal Microfinance Bank (NMFB) announced that disbursement of the Covid-19 Targeted Credit Facility (TCF) for 2022 has resumed, inviting applicants to check the status of their application.

So, if you filed for a SME loan through the NMFB portal in 2020 or 2021, all you have to do now is go back to the portal to see if your application was approved.

Hundreds of CBN COVID-19 loan applicants are unaware that applying isn’t enough, and that checking on the status of your loan on a regular basis is critical. So you don’t have to miss out!

If you applied and don’t know the next step to take, we’ll show you the procedure for Nmfb Household Loan Check with 

Household and small business loans are part of the Central Bank of Nigeria’s (CBN) financial strategy to mitigate the impact of the coronavirus outbreak.

The stimulus package is intended to help households and Micro, Small, and Medium Enterprises (MSMEs) that have been severely impacted by the global pandemic.

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Loan for Businesses such as the Agric-Business Small and Medium Enterprises Investment Scheme, or AGSMEIS loan can also be applied for.

As a result, the apex bank launched the N50 billion Targeted Credit Facility (TCF) to help households and businesses affected by the pandemic.

You could get up to N25 million under COVID-19. The amount you could get varies from N250,000 to N25 million.

Check Nmfb Household loan approval with BVN|How To Check Covid-19 Loan Approval

You can follow this procedure to check for your Covid-19 Loan approval status which is as easy as ABC.

Step 1: Go to the Nirsal Microfinance Bank’s main website.

Step 2: Click the COVID-19 support link in the upper right-hand corner.

Step 3: Select “Click Here to Provide Other Bank Account” from the drop-down menu, which will take you to (1) SME, and (2) Household.

Step 4: Select the Household category if you applied for it.

Step 5: To see if you’ll get the stimulus package, enter your 11-digit BVN and click Validate BVN.

If your application was approved, you will be directed to the next step. If you wish to take the loan, like the amount approved for you and agree to the terms and conditions, then fill in your bank information.

How To Know If Your COVID-19 Loan Was Not Successful

If your loan is accepted, you should receive an email, but if you’re not sure what to do next, follow the steps below to find out.

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To get to step 5, repeat the steps above.

The notification “This BVN Detail Does Not Exist” appears if your loan was not approved.

That is all there is to it.

Some of the successful applicants admitted that they did not check their BVN on the NIRSAL National Microfinance Bank webpage. NMFB, on the other hand, sent them a confirmation SMS.

Nirsal MFB loan Application Link

You can verify if your application was accepted on the Targeted Credit Facility (TCF) COVID19 Beneficiary Information Management System(BIMS). Here are the application links:

For SME check here and for Household Loan

NMFB household loan application form

For those who are asking how to apply for nmfb covid 19 loans, the application has closed at the moment. You can only follow up on your applications right now.

You can visit the online application portal to check for when it would be available

This is all how you can check for Covid-19 Loan Approval status or Nmfb Household loan approval, do you have further questions? You can do well to use the comments section below.

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