NIRSAL Loan Application Portal is Open for Non-Interest Targeted Credit Facilities Application.
The Non-Interest Targeted Credit Facility (TCF) is a stimulus package designed to support households and Micro, Small, and Medium Enterprises (MSMEs) affected by the COVID-19 pandemic. It is a non-interest term facility targeted at small businesses for the financing of key assets for their businesses.
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Disclaimer: We can’t give you NIRSAL Loan, what we only do is educate you about this loan. Note: Everyafricanjobs does not have any influence regarding this loan and we will never ask you to pay any kobo for any of our services. Please be warn!!!.
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The financing limit is N2,500,000.00 for a tenure of 3 years with 6 months moratorium (a moratorium is a grace period granted to the customer by the bank to postpone the payment).
Non-Interest Household Targeted Credit Facility (TCF) Application
Product Name: Non-Interest Targeted Credit Facility (TCF-NI)
Facility Type: Term Credit Facility
Maximum Facility Amount: Household: N500,000.00
Profit margin: 9% per annum
Maximum Payment Period: 36 months
Global Standing Instructions: In case you default, payments will be recovered from your account. Note that you must accept this as part of the offer letter.
Application Process: The process of the application will take place in three distinct phases:
Phase 1: Application for Financing
Apply for the TCF-NI facility by providing relevant personal information and the business to be financed.
Phase 2: Acceptance of Offer and other Agreements
You will be notified when your application is approved and required to do the following:
- Generate the Offer Letter and accept it
- Generate the Undertaking to Buy Agreement and accept it
- Input the details of the items to be financed. This must be confirmed with the approved amount as shown in your offer letter.
- You will finally attach invoices for all the items to be financed.
Phase 3: Take delivery and Execution of Murabahah Agreement Upon fulfillment of Phase 2, wait for the disbursement of funds to the proposed vendor.
The funds will be used to purchase equipment and raw materials from the vendor. Either NMFB or you as its agent will then be assigned to take delivery of the assets.
After taking delivery, you will be required to execute the Murabaha agreement in the final stage of the contract.
The main aim of this Non-Interest Facilities to Households is to assist all Households in the process of building a business or expanding an existing business and maintaining their lifestyle.
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Steps to Apply for NIRSAL Loan Household Targeted Credit Facility
To apply for the Household Targeted Credit Facility, follow the six (6) steps below:
- Step 1: Choose if you’re a Returning Applicant or a New Applicant (Application Status).
- Step 2: Validate your BVN Details.
- Step 3: Fill in your BIO-DATA INFORMATION
- Step 4: Enter your Financial Information
- Select the purpose of the facility application Select only one
- To purchase equipment or assets for home use
- To purchase equipment or asset to expand business
- Select the purpose of the facility application Select only one
- Step 5: DECLARATION
- Step 6: Submit
Note: Make sure that the unit cost of all the items you are using does not exceed the Financing Amount you are applying for. Your Financing Tenor in Months is 36 Months and the Financing Moratorium in Months is 12 Months.
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Non-Interest SMEs Targeted Credit Facility (TCF) Application
Our Non-Interest Facilities SMEs will assist you in the process of building a business or expanding an existing business and maintaining your lifestyle.
Product Name: Non-Interest Targeted Credit Facility (TCF-NI)
Facility Type: Term Credit Facility
Maximum Facility Amount: SME: N750,000.00
Profit margin: 9%
Maximum Payment Period: 36 months
Global Standing Instructions: In case you default, payments will be recovered from your account. Note that you must accept this as part of the offer letter.
Application Process: The process of the application will take place in three distinct phases:
Phase 1: Application for Financing
Apply for the TCF-NI facility by providing relevant personal information and the business to be financed.
Phase 2: Acceptance of Offer and other Agreements
You will be notified when your application is approved and required to do the following:
- Generate the Offer Letter and accept it
- Generate the Undertaking to Buy Agreement and accept it
- Input the details of the items to be financed. This must be confirmed with the approved amount as shown in your offer letter.
- You will finally attach invoices for all the items to be financed.
Phase 3: Take delivery and Execution of Murabahah Agreement Upon fulfillment of Phase 2, wait for the disbursement of funds to the proposed vendor.
The funds will be used to purchase equipment and raw materials from the vendor. Either NMFB or you as its agent will then be assigned to take delivery of the assets.
After taking delivery, you will be required to execute the Murabaha agreement in the final stage of the contract.
Steps to Apply for NIRSAL Loan SMEs Targeted Credit Facility
To apply for the SMEs Targeted Credit Facility, follow the six (6) steps below:
- Step 1: Choose if you’re a Returning Applicant or a New Applicant (Application Status).
- Step 2: Validate your BVN Details.
- Step 3: Fill in your APPLICANT DETAILS
- Step 4: Enter your PROMOTER INFORMATION
- Step 5: Enter your BUSINESS/DIRECTOR INFORMATION
- Is Promoter same as Director
- YES/NO (if yes fill in Business information otherwise filling director Information)
- Select the purpose of the facility application Select only one
- To purchase equipment or assets for home use
- To purchase equipment or asset to expand business
- Is Promoter same as Director
- Step 6: DECLARATION
- Step 6: Submit
VISIT APPLICATION WEBSITE HERE
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