If you’re looking for reliable, government-backed loan opportunities in Nigeria, NIRSAL Microfinance Bank (NMFB) offers a variety of financial products designed to meet the needs of different individuals, businesses, and sectors.
Whether you’re a salary earner, petty trader, SME owner, or farmer, NMFB has something for you.
In this blog post, we’ll explore the five major loan facilities provided by NMFB, how they work, who is eligible, and how you can apply directly.
1️⃣ Salary Advance Facility (NMFB SALAD)
The NMFB SALAD is designed for employees with verifiable monthly income who may need access to part of their salaries before payday.
Key Features:
- Targeted at salary earners in formal employment.
- Loan is subject to 33.3% of your monthly salary.
- Maximum loan period: 90 days.
- Ideal for short-term financial needs.
👉 CLICK HERE TO APPLY FOR NMFB SALAD
2️⃣ Petty Cash Now-Now Facility (NMFB Petty Cash Now-Now)
The Petty Cash Now-Now Loan is perfect for market women, kiosk owners, barbers, mechanics, tailors, and other artisans who need quick working capital.
Key Features:
- Designed for micro traders and artisans.
- Fast access to cash to support daily business operations.
- Maximum loan duration: 365 days.
- No need for elaborate documentation.
👉 CLICK HERE TO APPLY FOR PETTY CASH NOW-NOW
3️⃣ Consumer Asset Finance Facility (NMFB CAFF)
Want to buy a TV, fridge, washing machine, or laptop but can’t afford the full payment at once? This loan lets you pay in installments.
Key Features:
- For both salary earners and business owners.
- Used to purchase household items or electronics.
- Only from NMFB-accredited vendors.
- Repayment period: up to 24 months.
- Pay monthly based on your income capacity.
👉 CLICK HERE TO APPLY FOR NMFB CAFF
4️⃣ Small and Medium Enterprise Facility (NMFB SME)
Running a business and need extra funds to restock or expand? The NMFB SME loan is tailored for you.
Key Features:
- For SMEs in sectors like electronics, food & beverage, mobile phones, spare parts, and building materials.
- Supports working capital needs.
- Flexible loan amount based on business size.
- Repayment term: up to 12 months.
CLIICK HERE TO APPLY FOR NMFB SME LOAN
5️⃣ Agricultural Finance Facility (NMFB AFF)
This is one of the most impactful loan products for those in agribusiness, from crop farming to fishery.
Key Features:
- For individuals/businesses in crop farming, livestock, aquaculture, farm processing, and agro-services.
- Eligible for Interest Drawback Program (IDP) under CBN ACGSF.
- Get a rebate on interest if you repay on time.
- Boosts productivity in the agricultural sector.
👉 CLICK HERE TO APPLY FOR NMFB AFF
📝 Final Thoughts
NIRSAL Microfinance Bank is committed to driving financial inclusion and economic empowerment across Nigeria. Whether you’re a salary earner, trader, business owner, or farmer, there’s a loan product tailored just for you.
📌 REMEMBER:
- Choose the right loan for your situation.
- Ensure you meet the requirements.
- Repay on time to maintain a healthy credit profile and enjoy future benefits like interest rebates.
🔥 Frequently Asked Questions (FAQs)
Q1: Can I apply for more than one NMFB loan at the same time?
A: You can only apply for one loan at a time under a single loan product. You must clear any existing loan before applying for another.
Q2: Do I need collateral for NMFB loans?
A: Some NMFB loans, like Petty Cash and SALAD, are non-collateralized, while SME and Agricultural loans may require basic documentation or guarantors.
Q3: How long does it take to receive the loan?
A: If you meet the requirements and submit the proper documentation, processing usually takes 7–14 working days.
Q4: Can I apply if I’m self-employed?
A: Yes! NMFB provides loans for self-employed individuals, traders, and business owners, especially under SME, CAFF, and Petty Cash.
Q5: How do I apply?
A: Click any of the “CLICK HERE TO APPLY” links above, which takes you directly to the NMFB application page or portal. Ensure all your documents are ready before applying
