FUNDINGUpdated 1 months ago

NIRSAL Microfinance Bank Nigeria

NMFB: 75% owned by Bankers Committee, 15% NIRSAL, 10% NIPOST. 115 branches. AGSMEIS up to NGN 10M at 9%. Amazon Loan NGN 50K-1M for women, no collateral. Non-Interest TCF up to NGN 2.5M.

English, French, Portuguese or Arabic, machine translated, with the original kept beside it.
Key Information
Organisation
NIRSAL Microfinance Bank (NMFB)
Location
Nigeria, Nigeria
Status
Open
Application Deadline
Rolling
Type
Microfinance
Amount
NGN 50,000 to 10,000,000
Size
medium
Language
English
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Description

NIRSAL Microfinance Bank (NMFB) is Nigerias national microfinance institution owned by the Bankers Committee (75%), NIRSAL (15%), and NIPOST (10%). NMFB operates 115 branches across 36 states administering CBN intervention loans and internal lending facilities. Key products include AGSMEIS up to NGN 10 million at 9% interest (5-year tenor, 18-month moratorium), Amazon Loan NGN 50,000 to NGN 1 million for women entrepreneurs with no collateral required, OBSL salary advance and petty cash loans, and Non-Interest Targeted Credit Facility up to NGN 2.5 million for SMEs and NGN 1 million for households. AGSMEIS is Nigerias cheapest formal business loan with no other commercial lender matching the 9% interest rate.

Focus Sectors

MSME, Agriculture, Women-Led, Salary Earners