NIRSAL Microfinance Bank has resolved that the business plans for the ₦50 billion Targeted Credit Facility as a stimulus package to support households and MSMEs is no longer mandatory.
Addressing journalists on the development in Abuja on Tuesday, Managing Director/Chief Executive Officer of NIRSAL Micro Finance Bank Abubakar Abdullahi Kure explained why the bank changed its mind on the charges. He added that applicants “bank statements can give us an idea of your capacity to borrow and your capacity to pay. However, businesses that can develop a business plan will make our jobs easier so we can efficiently and fastly process those loan requests.He lamented that “the major challenges we are having is people are submitting bank statements that are not current.”
Kure cautioned applicants that the money they will be getting “is a loan. It’s not a grant and anyone who thinks it is a grant should stay away.” The objective of the ₦50 billion facility he said is “to allow firms stay in business and ensure people stay employed and mitigate harm on the economy.”
Multiplied by 10k they were mandated to pay.
The business plan is still there and the 10k still charge b4 u can apply for the loan.
Is it same loan they are requesting to pay some money for?
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