NYIF Applicants: Received Two Loan Approval?

NYIF APPLICANTS: If You Received Two Loan Approval, Here’s A Helpful Tips For You.

Many people have applied for various empowerment programs in Nigeria including; NMFB Covid 19 loan and Nigerian Youth Investment Fund (NYIF), which is regulated and reviewed by the same institution; Nirsal Microfinance Bank

Nirsal Microfinance Bank’s Covid 19 loan to business owners and the Nigerian Youth Investment Fund (NYIF) are constantly reviewing loans to fund Nigerian youth for their business ideas, reviewing applications for these programs and approving loans that may raise controversial issues.

Many applicants for both programs reported that they received loan approval from both a NYIF loan and a Covid19 loan, which appears to complicate and confuse decisions about making a particular loan.

Here are some helpful tips for making a decision;

– First consider the amount approved by both programs.

– Second, which is higher? Consider these tips critically.

– What kind of business do you want to do? Critically examine your business idea and the capital required.

– Try to read the terms of both approved loans before accepting.

* Before accepting any approved loan, relax and answer the questions above.

If these tips are helpful to you, please share! Thank you!!