Tutorials & Review

Have you Applied for CBN Covid-19 Loan and not yet Approved (Here is what to do)

Have you Applied for CBN Covid-19 Loan and not yet Approved (Here is what to do).   I have received several emails recently regarding the CBN COVID 19 Loan application
Have you Applied for CBN Covid-19 Loan and not yet Approved (Here is what to do).

I have received several emails recently regarding the CBN COVID 19 Loan application. And as a matter of fact, I will like to address some of the questions here.

The reason being that most people are having the same issues and publishing a solution to the public will have a positive effect on all.

Firstly, I will like to highlight some of the conditions for both household and SMEs. We can not do away with the fact that terms and conditions are the most integral part of any application.

So, understanding the terms will give you hints as to what you are about to do. Below are some of the terms though they were posted in my last article if you have been following me.

For Businesses/SMEs

  • Agreement to be signed by the customer, giving NMFB
  • Rights to take over pledged assets in the instance of loan
    default.
  • Insurance cover on the asset financed or asset availed
    as flexible collateral, with the NMFB noted as the first
    loss payee.
  • Loan amount must match loan repayment plan and
    loan purpose.
  • Domiciliation of proceeds with NIRSAL Microfinance
    Bank.
  • Registered business with CAC
  • Evidence of tax payments
  • BVN
  • Letter of Introduction
  • Passport photo of you and guarantor
  • Valid ID card

For Household/Individual


TO WATCH THE VIDEO TAP HERE AND CLICK "SUBSCRIBE"

  • BVN
  • Letter of Introduction
  • Passport photo of you and guarantor
  • Valid ID card

Now, you may have applied for the loan for a long time now and discovered people who just registered for the application have started receiving their fund.

This happens most often when your application is not clear, perhaps there could be a mistake either from any of the fields provided and because there are too many applications to attend to yours will just be thrown aside subject to when they will come back to review it.

Similarly, you may have received an alert from NIRSAL, however, payment has not been credited into your account. Be of good courage do not panic, in fact, congratulations all you need to do is to exercise more time for your payment to be disbursed.

For those who have verified their BVN but still pending payment, you have no issues. Like as I have stated above the portal is congested with so many applications to attend to and until it reaches your turn to review I am afraid you may not receive any notification from CBN any time soon.

On this note, we encourage everyone to be of good cheer and not despair, everything is going smoothly as at the time of making this post.

Finally, if you have more questions regarding CBN COVID 19 Loan Application please kindly leave a reply on our blog not on Opera and our team will reply to you in a short while.

To apply kindly visit CBN COVID 19 APPLICATION PORTAL

Don’t forget to also share this article by using any of the social share buttons below.

Do you like Fabpulse? We count on you! Follow us on Googlenews, And get 1k. Click Here, and Click the Star. Thank you!
Also Follow us on Facbook, Twitter, Instagram For Give Away!
JOIN OUR WHATSAPP GROUP FOR LATEST NEWS UPDATES 247🔥 (CLICK HERE)
Follow Us On Twitter For Free Give Away Daily (CLICK HERE)
Join Our Facebook Group & Get Unlimited Likes On Your Post (CLICK HERE)
Tags

Fabpulse

Fabpulse Provide you with legitimate ways to make money online, We help to Promote and develop your Business, We update you on Currency exchange and rate.

16 Comments

  1. I read your page,and how you answer questions concerning CBN covid19 loan,I submitted my business plan through the link send to me in my email since 20th April,up till now I have not heard from them.I applied for SME loan.please help me to find out what is the problem
    Emmanuel okon

  2. Good evening sir. Does it means that only business that has CAC certificate and evidence of paying tax qualified for this loan. How would be bank assist young business owners without this documents. Thank you sr

  3. I applied for the covid 19 NMFB loan but when I tried to validate my BVN it will show me that ‘sorry, your loan has not been approved, Please check back later” what status mine is on?

  4. I apply for the covid 19 loan but they are telling me my bvn is not found. But that is my bvn I have been using. So what is the problem

  5. I have applied for over two weeks ago and I haven’t received any notification from my email address please what can I do to insure my request is being approved

  6. I’ve applied for the loan since month of April 2020. Two weeks ago , i received an SMS that my funds are ready that, i should provide my other account details which i did the needful, uptil now i’ve not receive any fund.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Back to top button
Close