This is to inform all Nirsal Covid-19 TCF Non-Interest Loan applicants that Nirsal has finally released another list of names for the second batch on TCF loan.
New NIB Approvals Are Out. Successful Applicants for the Non-interest Banking window for TCF & AGSMEIS have started accepting their offers.
The Non-Interest Targeted Credit Facility (TCF) is a stimulus package to support household 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.
Kindly click on the links below to check if you have approval.
For Household: https://covid19.nmfb.com.ng/HomeLoans
For SME: https://covid19.nmfb.com.ng/SmeLoan
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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).
The Non-Interest Agri-Business, Small and Medium Enterprise Investment Scheme (AGSMEIS-NI) is a federal government intervention funding scheme through CBN that is intended to promote agricultural businesses to spur economic development and employment generation in the country.
The non-interest product is an alternative to the existing AGSMEIS program that is based on Islamic principles of financial transactions using products such as Murabaha and Ijarah. It is a term financing specifically introduced for the financing of equipment, raw materials, and working capital.
The financing limit is N10,000,000.00 for a tenor of up to 7 years (depending on the nature/gestation period of the project).
Applicants may in addition enjoy a moratorium of 6 months for mark-up and 18 months for the principal (a moratorium is a grace period granted to the customer by the Bank to postpone the payment).