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How to check covid-19 loan status in nigeria

Loan Tenor The guideline states that the loan for working capital shall be for a maximum of one year, with no option for rollover.

how to check covid-19 loan status in nigeria

As for the term loan, a maximum tenor of not more than 3 years with, at least, one-year moratorium. Responsibilities of Stakeholders Provide the seed fund for the scheme.

Exit date: The exit date of this intervention is December 31, It should be noted that this framework from CBN shall be subject to review from time to time as may be deemed necessary by the apex bank. Related Chike Olisah Chike Olisah is a graduate of accountancy with over 15 years working experience in the financial service sector. The loan is to be repaid in 3 years.

Since your BVN has been linked to all your accounts, if you fail to repay, the amount will be deducted monthly from your account. An individual can access up to N25million. The multiple award winner is variously trained in business and markets journalism at Lagos Business School, and Pan-Atlantic University. Before you can access the portal, you should have a profile with the platform. This means that you must have previously applied when the online registration was going on.

You can only log in if you have created your profile. Secondly, the Nirsal Microfinance Loan will only be disbursed to those who are considered qualified applicants. Below are the steps and links that applicants need to follow to check their loan status: From previous guidelines, the first step to take is to carefully go through your email address.

Who Is Eligible?

How to check covid-19 loan status in nigeria - sorry, that

If you are now eligible to get the loan, a mail will be sent to you indicating you have been granted the loan. Eligible applicants for the Nirsal-CBN loan scheme include households — households must be able to prove that they have been negatively impacted by the pandemic; Businesses are also eligible for the loan, but they must have proof that they also have been affected by the pandemic negatively. What is the Interest Rate of the Loan? The interest rate of the loan is 9 percent per annum.

Length of Loan After obtaining the loan, you have a maximum period of one year, and the term of the loan has a maximum tenor of not more than 3 years. MSMEs can apply through this linkand households can apply through this link. Other Requirements Business registration for businesses only Business plan Check the website for more information. How Much Can You Access? Provide your bank details and information in the correct format.

Who Is Eligible fOR NIRSAL Covid-19 Loan?

How to check covid-19 loan status in nigeria - are

Things you need to note First, you should take note of the following: There is every need for you to check your status to ascertain if you are still on the right path how to check covid-19 loan status in nigeria receiving your covidsupport loan.

Before you can access the portal, you should have a profile with the platform. This means that you must have previously applied when the online registration was going on. You can only log in if you have created your profile. Secondly, the Nirsal Microfinance Loan will only be disbursed to those who are considered qualified applicants.

Below are the steps and links that applicants need to follow to check their loan status: From previous guidelines, the first step to take is to carefully go through your email address. Those who got their loan requests granted will receive emails indicating that they have been granted access to the loan.

Next, you need to verify your account by submitting your BVN. If you are lucky to have been approved for the loan, then a window will pop open showing you the amount approved for you.