How to Apply for Nirsal Microfinance Bank Amazon Loan in 2025

🟢 What is the Amazon Loan?

The Amazon Loan is a special loan facility created by NIRSAL Microfinance Bank (NMFB) to empower women-owned businesses, especially micro-entrepreneurs, artisans, market women, and subsistence traders.

The aim is to:

• Provide quick access to affordable funding
• Support economic independence for women
• Encourage group-based lending and support structure

💰 Loan Amount Range

• You can apply for ₦50,000 up to ₦1,000,000.
• Your loan amount depends on:
  • Your business turnover
  • Repayment ability
  • Whether you’re applying individually or as a group

👩‍👧‍👧 Who Can Apply?

You’re eligible if:

• You are a woman engaged in a micro or small business
• You own a shop, market stall, kiosk, or trade in goods and services (e.g. fashion, food, farming, retail, POS business, tailoring, etc.)
• You are above 18 years old
• You are willing to provide a guarantor (or be in a group that guarantees each other)
• You have a valid means of identification and Bank Verification Number (BVN)

✅ Bonus if:

• You are a member of a registered cooperative, association, or women’s group
• You are banked or use POS / mobile banking / USSD

📄 Required Documents

To apply, you’ll need:

• Valid government-issued ID (National ID, Voter’s Card, Driver’s License)
• BVN
• Passport photo
• Business location verification (photos, market association ID, etc.)
• Guarantor details (or group reference)
• Account details (NMFB account preferred)

🔁 Repayment Terms

• Repayment Tenure: 6 to 12 months
• Repayment Method: Monthly or weekly (depending on the loan type and business cashflow)
• Interest Rate: Subsidized interest rate (can be as low as 9% per annum)
• No collateral required for many applicants
• May include a one-month moratorium (grace period)

📝 How to Apply for the Amazon Loan

🔹 Option 1: Apply Through a Women’s Group / Market Association

This is the most effective and popular way.

Steps:

1. Join or organize a group of 5–10 women with small businesses.
2. Each group member must:
   • Run a business
   • Be known and trusted by other members (cross-guaranteeing each other)
3. The group nominates a leader and submits:
   • List of members
   • Business info
   • Photos and addresses of each business
4. Visit the nearest NIRSAL Microfinance Bank branch to submit your group application.
5. An NMFB officer will review, inspect, and approve the group based on creditworthiness and unity.
6. Once approved, funds are disbursed into individual accounts under the group structure.

🔹 Option 2: Apply Individually (less common)

1. Walk into any NMFB branch nationwide.
2. Ask for the Amazon Loan form.
3. Fill and submit your application with required documents.
4. Wait for business inspection and KYC check.
5. If approved, you receive your funds directly.

🌍 NMFB Branch Locator

You can find the nearest NMFB branch using their official website:
🔗 https://nmfb.com.ng

Look for branches in:

• Lagos
• Abuja
• Port Harcourt
• Kano
• Ibadan
• Enugu
• Aba
• Owerri
• Uyo
• Kaduna
• and other major towns.

📢 Important Tips

• Applying through a group/cooperative increases approval chances
• Keep your bank records clean and active
• Avoid defaulting – NMFB reports to credit bureaus
• The loan can be re-accessed or upgraded after successful repayment

✅ Summary Table