Here is steps on how to Get CBN Covid-19 Loan and guide on How to Apply for Central Bank Covid-19 Loan 2022 at www.cbn.gov.ng. If you want to apply for CBN Covid-19 Loan then follow the procedures here, then this page is for you. At the moment, there are chances that the Central Bank Covid-19 Loan 2022 will be given to all Nigerians, which we are not sure of yet, that’s more reason you need to keep reading. We are happy to inform you that the CBN N50 Billion 2022/2023 Loan Application has been opened.
Central Bank of Nigeria (CBN) introduces a stimulus package to support households and Micro, Small and Medium Enterprises (MSMEs) affected by the COVID-19 pandemic.
What is the interest rate for Central Bank Covid-19 Loan?
How long is the Central Bank Covid-19 Loan for?
Working capital will be for a maximum period of one year, with no option for rollover. Term loans have a maximum tenor of not more than 3 years with, at least, one-year moratorium.
How much can I access?
Households: Can access a maximum of N3 million
Loan amount to SMEs shall be determined based on the activity, cashflow and industry/segment size of beneficiary, subject to a maximum of N25 million.
Working capital shall be a maximum of 25% of the average of the previous 3 years’ annual turnover. (where the enterprise is not up to 3 years in operation, 25% of the previous year’s turnover will suffice).
How to Apply CBN Covid-19 Loan – Central Bank Covid-19 Loan 2022
If this is your first time applying for CBN Covid-19 Loan with the Central Bank of Nigeria (CBN), select “Create an Account” on the Sign In page. Answer the “Why are you visiting this site?” pull down with “To look for Covid-19 Loan 2022 application.”
Once you have created an account, you will be automatically routed to sign in.
How Central Bank Covid-19 Loan 2022 Works
Submit An Application
The Central Bank Covid-19 Loan 2022 Application process is easy. You can begin on your phone, your tablet or your laptop.
Submit applications directly to NIRSAL Microfinance Bank (NMFB) with clear evidence of the opportunity or adverse impact as a result of COVID-19 pandemic.
We review your application and forward the application to the CBN for final approval.
Applicants who reach Short List or Interview status may be contacted for further information or to schedule an interview. We may begin evaluating applications before a vacancy is closed, so it is possible that your status shows that you have been “Not Selected” before the closing date.
The selection process may take from a few weeks to a few months, depending on the number of applications received and the availability of staff.
After you have applied for Central Bank 2022 Covid-19 Loan your status will not be shown.