What is the NIRSAL OBL facility?
The On-Balance Sheet Lending facility is an internal loan of NMFB separate from the Central Bank of Nigeria intervention funds administered by the bank. The OBL facilities are funded from depositors’ funds.
The On-Balance Sheet Lending facility is an internal loan of NMFB separate from the Central Bank of Nigeria intervention funds administered by the bank. The OBL facilities are funded from depositors’ funds.
This facility can be applied for by the following:
1. Small and Medium Enterprises with good financial track record
2. Petty traders with verifiable businesses
3. Individuals with verifiable sources of monthly income (including paid employment for at least 6 months)
4. Individuals and business owners in need of household equipment and other consumer assets
5. Individuals and businesses operating within the agricultural value chain
If you are one of the above, you can access this facility from the OBSL loan portal below or visit any of any branches of NIRSAL Microfinance Bank nationwide.
Applicants would need their personal details (name, contact, home address, BVN) and business details (name, address, etc.) to apply. With the minimum being N50,000 and the maximum subject to your financial capacity, this facility is capable of covering your personal or business needs.
Available OBSL Facilities:
There are five products that can be accessed. These are:
1. Small and Medium Enterprise Facility (NMFB SME)
The NMFB SME loan is a product designed for the Bank’s customers who are already engaged in trading activities of eligible products including food and beverages, electronics, allied products, computers/phones/accessories, spare parts, and building materials. The loan is meant to meet shortfalls in the customer’s working capital requirements for a maximum period of 365 days.
2. Now-Now Facility (NMFB Petty Cash Now-Now)
The NMFB Petty Cash Now-Now is a microloan designed for petty traders, kiosk owners, and artisans to run their daily business activities. This loan will allow this category of NMFB customers to meet their business working capital needs for a maximum period of 365 days.
3. Salary Advance Facility (NMFB SALAD)
The NMFB SALAD allows individuals with verifiable sources of monthly income from paid employment to access advance from their salaries. The accessible amount is subject to the customer’s monthly repayment, which must not exceed 33.3% of his/her net monthly salary for a maximum period of 90 days.
4. Consumer Asset Finance Facility (NMFB CAFF)
The NMFB Consumer Asset Finance Facility allows eligible NMFB customers (salaried and business owners) access to purchase physical assets (household items and electronic gadgets) from the Bank’s accredited vendors. The loan repayment spans over a maximum period of 24 months subject to the customer’s capacity to make monthly principal and interest repayments.
5. Agricultural Finance Facility (NMFB AFF)
The NMFB Agricultural Finance Facility is targeted at customers who are into identified agricultural activities; crop farming, animal husbandry, fish farming, processing of farm produce, farm machinery hire services, etc. The facility also gives borrowers who repay as at when due the opportunity to benefit from the Interest Drawback Program (IDP) of the CBN Agriculture Credit Guarantee Scheme Fund (ACGSF), where the customer will get a rebate on the interest paid on his/her commercial borrowing from NMFB at a rate determined by the Fund from time to time.
How to apply
Step 1
Register and apply online.
The process is easy and simple. You can begin the process by opening the application portal on your smartphone, tablet, or laptop.
Register with your personal information and validate your BVN online.
Complete the application form online and select a NIRSAL Microfinance Bank branch closest to you.
Visit your selected branch to complete the application process.
Step 2
Appraisal and Approval
Your request will be appraised in line with the Risk Acceptance Criteria of thebankk and approved if all requirements are met.
Step 3
Disbursement
Upon acceptance of the loan offe, which includes terms and conditions of the loan, the approved amount shall be disbursed to the customer’s account in NIRSAL Microfinance Bank.
Step 4
Monitoring and Repayment
There shall be close monitoring of the loan to ensure that the customer keeps to the terms and conditions of the loan. Repayment of the loan will start exactly 30 days after the disbursement date.
Apply now for the NIRSAL loan.
