FG begins CBN Covid-19 loan disbursement, See what to do if you applied

The Federal Government through CBN and IRSAL Microfinance Bank have started disbursing Covid-19 loan to applicants who applied in June 2020.

The credit facility is aimed at providing financial relief to households and small businesses as they cope with the economic fallouts of the pandemic.

Each eligible SME will receive a maximum of N25 million while qualified households can access a maximum of N3 million each.

Many applicants who took part in the CBN Covid19 loan have still not received an alert.

The official website to get CBN Covid-19 Loan is https://nmfb.com.ng/covid-19-support/

Those shortlisted for the loan will be sent a mail. So, they are to check your Email or SMS inbox to confirm if they were given the loan.

The loan disbursements would be determined based on the activity, cash-flow, and industry size of the beneficiaries.

For those who are yet to receive an alert even after filling all details, they will need to do a physical verification before the loan will be disbursed to them.