We are however happy to announce that the querry is not a sign of rejection. It is as result of the system not feeding your BVN details immediately you entered it. This is why we have created this simply process which we are sure, tested and trusted, can permanently resolve such issues of “BVN does not exist” or “Invalid BVN” on the COVID-19 TCF registration portal.
Follow the simple method as follows:
1. Open the application portal https://nmfbloans.nmfb.com.ng/nmfbloanapplicationportal and choose a Loan Type, Household or SME. Or Household Applicants directly follow https://nmfbloans.nmfb.com.ng/covid19tcfhousehold and SME applicants follow https://nmfbloans.nmfb.com.ng/covid19tcfsme
2. Do not fill your BVN first. Again, do not fill your BVN first.
3. Firstly, start filling other details highlighted in green such as your Email Address, Comfirm Email Address, Marital Status, State of Origin, Region of Origin, State of Residence, Phone Number, Residential Address, then select preferred Nirsal MFB Branch.
4. Lastly, fill in your BVN and tap or click on any of the area highlighted in white. Then “please wait” for it to load your BVN information. Note that those area highlighted in white will be filled automatically through your BVN information database.
Then it’s solved. Now you can proceed to fill the Stages of your application. As earlier said, if you have recieved the querry, “BVN Does not Exist” or “BVN Invalid” in the course of your attempt to register on the portal, just open a new page and Fill your BVN last.
The COVID-19 Targetted Credit Facility is a soft Loan Scheme introduced by the Federal Government in March, 2020 as part of the Central Bank of Nigeria Intervention Scheme to cushion the effect of the COVID-19 Pandemic on Nigerian Businesses.
The loan features the Household Loan where an applicant can access up to N3 million without collateral at 5% interest rate until February, 2022, 9% interest rate for the rest of the years, 12 months Moratorium, 3years maximum duration. There are more than 320,000 Nigerians who are current beneficiaries of the Household Loan since April, 2020.
It also features the SME Loan where a beneficiary has access to up to N25 Million at 5% interest rate until February, 2022, 9% interest rate for the rest of the years, 12 months Moratorium and 3 years maximum duration. It however requires supporting documents which form a part of its collateral system.
The Nirsal Microfinance Bank asides the CBN Intervention Schemes and just like other Microfinance Bank also offers Loans to its customers who have accounts with them at a subsidised interest rate through the Commercial Loan plan. NMFB petronises traders who deal in products such as Food, Electronics, Allied products, Computers/Phones, Spear parts etc.
If you need us to help you with more updated information about CBN Covid-19 Targeted Credit Facility Loan, kindly feel free to ask any question in the comment box below. You can also provide us your phone number or email Address for more updates.
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