FG begins CBN Covid-19 loan disbursement, See what to do if you applied

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The Federal Government through CBN and IRSAL Microfinance Bank have started disbursing Covid-19 loan to applicants who applied in June 2020.

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The credit facility is aimed at providing financial relief to households and small businesses as they cope with the economic fallouts of the pandemic.

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Each eligible SME will receive a maximum of N25 million while qualified households can access a maximum of N3 million each.

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Many applicants who took part in the CBN Covid19 loan have still not received an alert.

The official website to get CBN Covid-19 Loan is https://nmfb.com.ng/covid-19-support/

Those shortlisted for the loan will be sent a mail. So, they are to check your Email or SMS inbox to confirm if they were given the loan.

The loan disbursements would be determined based on the activity, cash-flow, and industry size of the beneficiaries.

For those who are yet to receive an alert even after filling all details, they will need to do a physical verification before the loan will be disbursed to them.

  1. Usman Shuaibu says

    Physical verification as how ?
    Many people got without physical verification why only those that applied on June will undergo physical verification? Haba!!

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