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:
Petty traders (e.g., food vendors, hawkers, stall operators)
Kiosk owners (e.g., recharge card sellers, mini retail shop owners)
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
Loan Amount: Up to ₦300,000
Repayment Period: Up to 12 months (365 days)
Grace Period: First repayment begins 30 days after disbursement
Monitoring: Loan usage will be monitored by NMFB to ensure it aligns with business needs
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
Visit the official NMFB website: https://www.nmfb.com.ng
Create an account or log in
Fill out the application form with:
Personal details
Business information
BVN (Bank Verification Number)
Payslip or income proof (if applicable)
Select your preferred NMFB branch for follow-up
Step 2: Application Evaluation
NMFB reviews applications based on their Risk Acceptance Criteria (RAC)
Applications are approved or declined based on financial standing and business potential
Step 3: Loan Disbursement
If approved, a loan offer will be issued
Upon acceptance, funds are disbursed directly to your NMFB account
Step 4: Monitoring and Repayment
You will receive reminders about repayment which starts 30 days after disbursement
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
