What is an NMFB Loan?
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ToggleAn NMFB loan is a financial tool provided by Nigeria’s NIRSAL Microfinance Bank (NMFB) to empower individuals and businesses.
These loans cater particularly to micro, small, and medium-sized enterprises (MSMEs), aiming to bridge funding gaps that might be hindering their growth.
By offering access to capital, NMFB loans aim to fuel business development and propel individuals toward achieving their financial goals.
The bank strives to make obtaining a loan a smoother experience by providing competitive interest rates and streamlined application processes.
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The Different Types of NMFB Loans
The Nigerian Microfinance Bank (NMFB) provides a variety of loan packages to meet specific needs. Here’s a rundown of their offerings.
1. On Balance Sheet Lending (OBl)
These loans, which are funded immediately by the NMFB, are ideal for established businesses or people with good credit.
2. Agriculture, Small and Medium Enterprise Scheme (AGSMEIS)
This flagship program focuses on agricultural and small and medium-sized enterprises. It offers loans of up to N3 million at a very low annual interest rate of 9%.
3. Targeted Credit Facility (TCF)
This became a temporary program launched by the Central Bank of Nigeria (CBN) to help with economic recovery during the COVID-19 pandemic. While the NMFB will not be granting these loans at this time, knowledge about them provides a fuller perspective on their talents:
4. COVID-19 Targeted Credit Facility
This plan helped households and MSMEs that had been negatively impacted by COVID-19. It included a 5% concessionary interest rate and a moratorium period before repayments began.
It’s important to remember that loan options and qualifying conditions can change over time. To ensure that you have the most up-to-date statistics, visit the NMFB website or contact their customer service branch very far away.
How link works:
- Visit the loan application portal link above
- Create account and login to fill your information and submit
READ – Federal Government MSME Loan 2025 – Apply now
How to Apply for NMFB OBL Loan 2025
Well, we have good news for you, you can now apply for the OBL loans online without stress by Logging on to https://obl.nmfb.com.ng
According to Nirsal micro finance bank NMFB, you can now get a Convenient Loan Today by applying for the loan now to meet needs like growing your business, paying rent, buying a car, paying school fees, e.t.c
Nirsal micro finance bank NMFB will get back to you with further instructions regarding your loan application.
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