Nirsal MFB always has a portfolio for Nigerian Youth, business, and economic development loans.
Nirsal introduce a good number of loan opportunities for Youth, Nigeria Youth Investment Fund, business owners Anchor Borrowers’ Program, Salary Advance, and SME Loan among others
Nirsal Nigeria Youth Investment Fund
This time the loan is introduced by the Federal Ministry of Youth and Sports Development (FMYSD) and funded by CBN to improve the productivity of the youth and increase job opportunities by reducing the unemployment rate. This will increase the creativity of Nigerian youth and give the youth more confidence to invest more
This fund intends to invest in innovative ideas, skills & talents of Nigerian youths to easily turn them into an entrepreneur
The fund target youth either with registered businesses or no business at all but good innovation
For Individuals with no business registered
- Must have a valid BVN
- A business plan summary
- Must first register to be trained as an entrepreneur at Nisral Youth Investment Fund
For Registered business
- Valid BVN, Business Plan summary
- CAC certificate
- Also, have to complete entrepreneur training at Nisral Youth Investment Fund
How To Apply Nirsal Nigeria Youth Investment Fund
- You first get trained by Nisral Youth Investment Fund
- Apply for loan
- Submit an application to the NMFB’s portal
- Wait for approval
- After approval loan gets Disburse to NMFB
Nirsal MFB Business loan and Agroloan
Nirsal MFB with the intervention of the Central Bank Of Nigeria brought the Anchor Borrowers’ Program single-digit loan by the Federal Government of Nigeria. This program helps to boost the agriculture section of the economy.
In accordance with that Nirsal MFB also bring other loan facilities for small businesses to help them increase their productivity
They are helping along with the business chain from production to processing and marketing that will meet the international standard
The Nira MFB CBN Anchor Borrowers’ Program has a clear objective Diversify the economy, Improve access to finance, create jobs, and Inclusive growth.
Nirsal MFB also introduces the Salary Advance and SME Loan. These products were added to help Micro, Small, and Medium Enterprises increase their productivity with affordable credit facilities and also for the salary earners to have easy loan facilities to easily cater to their immediate needs
This loan ranges from N50,000 to N250million with competitive interest
To make the loan facilities easily accessible there is loan ranging from 50,000 to 300,000 for petty traders who have an existing business and need credit facilities
The petty trader loan facility does not require a bank history from Nirsal MFB or any banks just to make the loan easy to get.
On the other side for the salary advance loan, the applicant must have at least 3 months of consistently paid salary before applying.
Nirasal makes the interest very competitive with a streamlined document needed just to make the loan easily accessible
How To Apply To CBN Anchor Borrowers Programme
- For the anchor loan, you are to submit EOI that is the Expression Of Intrest to their bank of PFI( Paticipanting Finacial Institute) just for example Expression of Interest for NIRSAL MICROFINANCE BANK to the PFI in the Maize Farmers Project Under the CBN Anchor Borrowers Programme
- After receiving the EOI
- You will be required to bring
- the processor’s capacity to offtake the produce from the farmers at harvest
- the list of farmers required (numbers, names, BVNs)
- the commodity required
- the choice of NIRSAL Microfinance Bank as the Participating Financial Institution (PFI) for the project etc.
- After receiving the documents then you will wait for appraisals
- Then fund request will be made from CBN
- Then offer letter and disbursement start.