NIRSAL Microfinance Bank – Loan details
NIRSAL government-backed loans from ₦1,000,000 to ₦100,000,000 at 9% annually.
Loan amount
₦1.0M – ₦100.0M
Interest from
9.00%
Term
12 – 60 months
Approval
5 business days
Pros
- ✓ CBN-backed national microfinance bank
- ✓ Subsidised interest rates (9% per annum under interventions)
- ✓ Access to CBN Targeted Credit Facility
- ✓ Nationwide branch network
- ✓ Serves farmers and SMEs
Cons
- ✗ Application process can be complex
- ✗ Specific programme eligibility criteria apply
- ✗ May require collateral or guarantor
- ✗ Long processing times for intervention funds
Requirements
- Valid government-issued ID
- BVN
- Active bank account
- Business plan or farm plan (for commercial loans)
- 3-6 month bank statement
- Collateral or guarantor (product-dependent)
Company information
NIRSAL Microfinance Bank Limited
Agundo House, Plot 2186 Herbert Macaulay Way, Wuse Zone 6, Abuja
https://www.nmfb.com.ng
This document is for informational purposes only. Always verify current terms and conditions directly with the lender before signing any agreement. CoolFinance.com.ng is an independent comparison portal operated by double technology s.r.o., Czech Republic.