Guidelines For CBN Covid-19 Loan Application [April 2021]

The Federal Government of Nigeria has continuously been rolling out different loan facilities for SME businesses, over the past months. The government has been looking out for both Small and Medium enterprises. Providing them with different loans that can help guarantee their financial freedom if well managed.

About The CBN Covid-19 Loan

Recently, the Central Bank of Nigeria (CBN) re-opened the portal for Micro, Small, and Medium Enterprise (MSME) loan which allow business owners to access up to N25 million naira through NIRSAL Microfinance Bank.

The CBN Covid 19 Loan is strictly for those whose businesses were affected by Pandemic. The CBN Covid 19 loan program is still running and was disclosed on Wednesday via Twitter by Bashir Ahmad, the Personal Assistant to President Muhammadu Buhari on New Media.

Here is the content of his tweet, “The CBN, through @NirsalMFB introduces a stimulus package to support households and MSMEs affected by the COVID-19 pandemic. An individual can access up to N25million.”

Other Things You Should Know About the CBN Covid-19 Loan

Currently, the Federal Government of Nigeria has disclosed that the Portal for MSME Survival Fund Payroll Support would exceptionally be reopened for only 30 states that weren’t able to meet their own quotas. FG in the announcement also said that the scheme is targeted at supporting vulnerable Micro, Small, and Medium Enterprises in the payroll obligations of over 500,000 employees.

How Do I Apply for The CBN Covid-19 Loan?

In order successfully apply for the ongoing CBN Covid-19 Loan, you must make sure that you have read all the  requirements presented. Also ensure that you fit in.

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