Three NIRSAL NMFB Loan Programmes Approved By FG

Three NIRSAL Micro-Finance Bank(NMFB), Loan Programmes Approved By FG

The damages caused by COVID-19 on Nigerians can never be overemphasized, ranging from economic instability, high death rate and increase impoverished and unemployment.

Regarding this, the Federal Government led by His Excellency Muhammadu Buhari, and other Bodies in fighting Economic instability in the country, Nigeria, had approved several programs to help reduce the effect caused by the virus to all Nigerians.

In this article, I would like to talk about some approved loan programs by the Nigerian government in collaboration with Microfinance Banks(NMFB).

Checkout the three(3) approved loan programs by FG and their requirements:

1. COVID-19 Support Loan:

The COVID-19 Support Loan was designed early last year by the Nigerian government in partnership with Central Bank of Nigeria to support all Nigerian Entrepreneurs in the country.

Below are the requirements:

All interested persons must;

— Be a Nigerian Citizen

— Have a registered business in the country(Nigeria)

— Have up to five workers working with him.

2. Nigerian Youth Investment Fund (NYIF):

NYIF is a government approved Empowerment Program to support all young Nigerian Entrepreneurs between the age of 18-35years.

Eligibility:
Applicants must poses the following;

— must be a Nigerian Citizen between the age range of 18-35years

— have a registered business with CAC with 3-4 staffs working.

3. Survival Fund Program:

The survival fund was also designed by the Federal government to support all Nigerian business people by paying a stipend of N30,000 for three months.

Every Nigerian are entitled to apply in any of the above programs.

What is your take on this?

Please share your opinion using the comment section…. Thank you for reading.