2021 Covid 19 Loan Application Process

Covid 19 loan application here is made through NIRSAL MICROFINANCE BANK and this became official following the outbreak of Coronavirus pandemic also known as COVID-19 pandemic. Apply now for the 2021 Covid-19 loan.

This leads to unique disruptions to global supply chains, leading to a quick drop in global crude oil prices, turmoil in global stock and financial markets, also massive cancellation of sports events as well as entertainment events.

The effect of the COVID-19 pandemic also leads to a lockdown of large swaths movements of persons in many countries, intercontinental travel bans, and restrictions across critical air routes worldwide.

Coronavirus pandemic outcomes have had severe consequences on households’ livelihoods and business activities, resulting from a drop in global demand, declining consumer confidence as well as a slowdown in production processes. 

PAY ATTENTION: Notification To Covid 19 Loan Scammed Alert. Here, you’ll get all the possible information to prevent scams after applying for the Covid-19 loan.

With this, the Central Bank of Nigeria (CBN) introduced Covid-19 loan.

The Covid-19 loan is introducing the N50 billion Targeted Credit Facility (TCF) to support the household, Small, and Medium Enterprises (SMEs) that are been affected by the Covid-19 pandemic starting from 2020 when the virus noted.

Note that Small and Medium Enterprises (SMES) is also known as Micro Small and Medium Enterprises (MSMEs) and we’re here to guide you on covid 19 loan form for household.

Covid-19 Loan Application Portal

Covid-19 loan application portal introducing the TCF Covid-19 loan application is in two forms, the HOUSEHOLDS, and SMES. In each, we’ll assist you in the process of building a business, maintaining your lifestyle, as well as expanding an existing business if you’ve any.

Covid-19 Loan Application Steps

There are 6 pages you’ll ask to fill when applying the TCF covid 19 loan applications. See option below to proceed:

If you’re looking for covid 19 loan application form in Nigeria, click here to get started with the TCF Covid-19 pandemic loan application.

Note: When applying for the covid-19 loan, each field in very steps are to pay attention too so as to avoid mistake during application.

How to Apply for the Covid 19 Loan

The steps below will guide you on how to apply for NIRSAL CBN covid 19 loan:

STEP 1 of 6

APPLICATION STATUS

You’ll be asked a question that says ARE YOU A NEW OR RETURNING APPLICANT? Tick the box to select either NEW or RETURNING.

Note, A new applicant you select NEW and please ensure you take note of the reference number. As it will be required in the TCF Covid 19 loan application process.

RETURNING applicant should select RETURNING and input their BVN to proceed.

• Click on Next

STEP 2 of 6 

PERSONAL INFORMATION

Fill your details in correctly, when once your Bank Verification Number (BVN) is been inputed, some of your details will be generated automatically such as first name, last name, other name, date of birth etc.

But ensure you fill others that were not generated before moving to the next step as the portal will not allow you to go to the next steps without providing the full details as requested. Take note please.

STEP 3 of 6 

BUSINESS INFORMATION

Here you will be asking to provide information about your business such as “Are you Employed?” This requires “Yes or No” answer.

Selecting “Yes” will provide you with fields where you’re to fill in your employment information such as employer name, employee position and others as requested by the Covid-19 loan portal.

If you select “No” will provide with another question like “Are you a Business Owner?”

At this point, if you select “Yes”, will ask you to provide your business details such as business name, telephone number, address and others while “No” will grant you the access to the next steps in the Covid-19 loan application process.

STEP 4 of 6 

REQUIRED DOCUMENTS

The covid 19 loan product classification for Household is between 50,000 THOUSAND NGN – 1,000,000 MILLION NGN respectively. Therefore, ensure you check the box and click next to proceed.

STEP 5 of 6 

LOAN INFORMATION

Here, you’ll be asked the purpose of the covid 19 loan collection. You will have to select a maximum of two (2) loan purposes in this section alongside the about you’re applying for and others.

STEP 6 of 6 

DECLARATION

This is the last step in the Covid-19 loan application process. Here, you’re to check the box that says “I hereby declare that the information provided is true and correct” then click on Submit button. That’s all.

Conclusion

We have taken you through the NIRSAL CBN covid 19 loan processes. We pray and full hope your luck shines after the application is been made so as to count yourself among those that have benefited from the government during this coronavirus pandemic outbreak.

Also feel free to message us via comment box or using the contact form, we’ll be glad to hear from you and get you questions solve as quickly as possible.

Thanks and goodluck while applying.