The Central bank of Nigeria (CBN) has reopened the Targeted Credit Facility for COVID-19 Loan application portal. The credit facility was targeted as a stimulus to support households and Micro, Small, and Medium Enterprises (MSMEs) affected by the COVID-19 pandemic.
In a statement shared via Twitter, the disbursing financial organization, NIRSAL Microfinance Bank stated that COVID-19 targeted credit facility application reopened for fresh applications.
The application for 2020 which run for three months was closed at the end of June 2020, the CBN said over 80,000 families and households benefitted from the 2020 credit facility.
The COVID-19 The COVID-19 Support fund, which will be distributed by NIRSAL Microfinance Bank and come with an Interest rate under the intervention is 5% P.A.
READ: How to Apply for CBN COVID-19 Loan for Households and SME’s (2021)
The Household loan requirement for include:
· Loan application letter
· Duly completed application form
· Duly executed Guarantor form
· A valid means of ID (national ID, driver’s license, voter’s card or international passport)
· Current utility bill
· 2 recent passport-size photographs
· BVN
MSME Loan Requirement:
· Loan application letter
· Duly completed application form
· Duly executed Guarantor form
· A valid means of ID (National ID, Driver’s License, Voter’s Card or International passport)
· Current utility bill
· 2 recent passport-size photographs
· BVN
