NIRSAL Microfinance Bank (NMFB) has introduced a fast-access loan initiative tagged “Cash Now-Now”, specifically tailored for petty traders, kiosk operators, and artisans across Nigeria. This program is designed to provide immediate financial support, empowering small-scale entrepreneurs to stabilize and grow their businesses.
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What Is the “Cash Now-Now” Loan?
The “Cash Now-Now” loan is part of NMFB’s ongoing efforts to boost financial inclusion and support the informal sector. It addresses urgent working capital needs, helping micro-entrepreneurs improve their business operations without delay.
Key Features of the Loan Offer
- Target Group: Petty traders, kiosk owners, and skilled artisans
- Maximum Loan Amount: Up to ₦300,000
- Repayment Period: Flexible term of up to 365 days
- Disbursement Channel: Directly into NMFB account
- Monitoring: Continuous evaluation to ensure compliance with loan terms
- Repayment Start: 30 days after loan disbursement
This initiative offers a practical solution to the everyday financial struggles of small business owners, helping them handle inventory purchases, equipment upgrades, or operational costs.
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How to Apply for NMFB “Cash Now-Now” Loan
Eligible applicants can follow the steps below to get started:
1. Online Application
- Visit the official NMFB loan portal: https://obl.nmfb.com.ng
- Create an account and fill in your personal and business details
- Provide your Bank Verification Number (BVN) and other requested documents (e.g., payslip or business details)
- Choose your preferred NMFB branch
2. Evaluation and Approval
- NMFB will assess your eligibility based on their Risk Acceptance Criteria
- Successful applicants will be notified with a loan offer
3. Loan Disbursement
- Once the offer is accepted, funds will be credited to your NMFB account
4. Monitoring and Repayment
- NMFB will monitor the usage of the funds
- Repayment begins after 30 days, ensuring you have time to utilize the loan effectively
Why This Matters
Access to quick loans remains a challenge for many in the informal sector. NMFB’s “Cash Now-Now” loan bridges that gap, offering a simple and transparent process for individuals who lack access to traditional banking support.
This move supports Nigeria’s economic inclusion goals and promotes business sustainability for the country’s growing micro-enterprise community.
Contact Details
For inquiries and support, reach out to NMFB via:
- Email: [email protected]
- Phone: +2349010026900, +2349010026905, +2349010026907, +2347044538853, +2347181536141
Apply today via the official NMFB loan portal: Click to Apply Now
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