Are you a petty trader, artisan, or kiosk owner in Nigeria struggling with capital? The NIRSAL Microfinance Bank (NMFB) has launched a fast-access loan initiative known as the “Cash Now-Now” Loan, offering up to ₦300,000 in working capital support.
This initiative is part of NMFB’s financial inclusion strategy to empower small-scale entrepreneurs, provide quick funds for business expansion, and enhance economic resilience for everyday Nigerians.
Whether you sell in a market, own a kiosk, or offer skilled services, this targeted microloan program is designed to help you meet your urgent financial needs and sustain your livelihood.
Who Can Apply for the NMFB “Cash Now-Now” Loan?
This loan program is designed specifically for:
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Petty traders (e.g., food vendors, hawkers, stall operators)
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Kiosk owners (e.g., recharge card sellers, mini retail shop owners)
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Artisans (e.g., tailors, barbers, mechanics, welders, etc.)
There is no requirement for collateral, and successful applicants can access funds quickly after verification and approval.
NMFB Cash Now-Now Loan: Key Features
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Loan Amount: Up to ₦300,000
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Repayment Period: Up to 12 months (365 days)
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Grace Period: First repayment begins 30 days after disbursement
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Monitoring: Loan usage will be monitored by NMFB to ensure it aligns with business needs
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No upfront fees required
Step-by-Step Guide to Apply for NMFB “Cash Now-Now” Loan
To ensure your application is smooth and successful, follow these steps:
Step 1: Online Registration
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Visit the official NMFB website: https://www.nmfb.com.ng
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Create an account or log in
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Fill out the application form with:
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Personal details
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Business information
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BVN (Bank Verification Number)
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Payslip or income proof (if applicable)
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Select your preferred NMFB branch for follow-up
Step 2: Application Evaluation
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NMFB reviews applications based on their Risk Acceptance Criteria (RAC)
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Applications are approved or declined based on financial standing and business potential
Step 3: Loan Disbursement
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If approved, a loan offer will be issued
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Upon acceptance, funds are disbursed directly to your NMFB account
Step 4: Monitoring and Repayment
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You will receive reminders about repayment which starts 30 days after disbursement
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NMFB monitors loan use to ensure compliance with terms and conditions
Frequently Asked Questions (FAQs)
Q1: What’s the maximum loan amount I can get?
A: Up to ₦300,000, depending on your business need and evaluation.
Q2: Do I need collateral for this loan?
A: No, the “Cash Now-Now” loan is unsecured and does not require collateral.
Q3: When will I start paying back the loan?
A: Repayment begins 30 days after the loan is disbursed.
Q4: How do I contact NMFB for support?
A: Email: info@nmfb.com.ng or visit your nearest NMFB branch.
Q5: How long does the application process take?
A: Processing timelines may vary, but approvals typically take a few working days after submission and evaluation.
The NMFB “Cash Now-Now” loan is a powerful opportunity for small business owners across Nigeria to get the financial boost they need without stress or delays. If you run a small trade, kiosk, or offer artisan services, this is your chance to grow your business and stay financially stable.
CLICK HERE TO APPLY NOW via the official portal: https://www.nmfb.com.ng
