In response to questions from various Nigerians who seemed to be in the dark regarding the status of their COVID-19 NIRSAL loan requests, NIRSAL Microfinance Bank has intervened.
Only those applicants who are deemed qualified will be given the Nirsal Microfinance Loan. The procedures and links that applicants must follow to check the status of their loans are listed below:
According to previous guidelines, the first step is to carefully review your email address. Those who had their loan requests approved will receive emails informing them that they now have access to the loan. If, after submitting the online application, you have yet to receive notification that your loan has been approved, please click here or go to https://agsmeisapp.nmfb.com.ng/.
How to repay the loan
Contrary to some applicants’ expectations that the loan is non-repayable, the federal government has warned that successful applicants must repay the loan.
Please keep in mind that 5% of the total funds received will be deducted before you are paid. The most important thing here is to avoid falling behind on your payments.
The loan is due to be repaid in three years. Because your BVN is linked to all of your accounts, if you fail to repay, the amount will be deducted from your account on a monthly basis.