NIRSAL loan is a type of loan that is offered by the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL), a subsidiary of the Central Bank of Nigeria (CBN), in collaboration with the NIRSAL Microfinance Bank (NMFB). NIRSAL loan is designed to support small and medium enterprises (SMEs), farmers, traders, and other eligible beneficiaries in various sectors of the economy, especially in the agricultural value chain.
NIRSAL loan is part of the CBN’s intervention programs to mitigate the impact of the COVID-19 pandemic on the economy and to stimulate economic recovery and growth. NIRSAL loan offers various products and schemes, such as the Agri-Business/Small and Medium Enterprise Investment Scheme (AGSMEIS), the Targeted Credit Facility (TCF), the Health Care Support Intervention Facility (HCSIF), and the Creative Industry Financing Initiative (CIFI).
NIRSAL loan is accessible through the NIRSAL loan application portal, where applicants can fill and submit their online application forms, upload their required documents, and track their loan status. However, many applicants have encountered difficulties and challenges in accessing and using the portal, such as technical glitches, delays, errors, or rejections.
One of the common issues that applicants face is how to check their NIRSAL loan status with their Bank Verification Number (BVN). BVN is a unique 11-digit number that is issued by the CBN to identify and verify bank customers in Nigeria. BVN is required for applying and accessing NIRSAL loan, as it serves as a means of identification, authentication, and verification of the applicants and their bank accounts.
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In this article, we will show you how to check your NIRSAL loan status with your BVN, and how to resolve any issues or problems that you may encounter. We will also provide you with some useful tips and information on how to apply, repay, and access other services related to NIRSAL loan in 2024.
How to Check NIRSAL Loan Status with BVN
To check your NIRSAL loan status with your BVN, you need to follow these steps:
- Visit the NIRSAL loan application portal at https://nmfb.com.ng/covid-19-support/
- Click on the product or scheme that you applied for, such as AGSMEIS, TCF, HCSIF, or CIFI
- Click on the “Check Loan Status” button
- Enter your BVN and click on the “Validate BVN” button
- You will see your loan status on the screen, such as “Approved”, “Declined”, “Pending”, or “Disbursed”
- If your loan status is “Approved”, you will see the amount of loan that you have been approved for, and the bank account details where the loan will be disbursed
- If your loan status is “Declined”, you will see the reason for the decline, and the option to reapply or appeal
- If your loan status is “Pending”, you will see the stage of your loan application, such as “Submitted”, “Verified”, “In Review”, or “Awaiting Approval”
- If your loan status is “Disbursed”, you will see the date and amount of loan that has been disbursed to your bank account
How to Resolve NIRSAL Loan Issues with BVN
If you encounter any issues or problems while checking your NIRSAL loan status with your BVN, such as:
- You do not have a BVN or you have forgotten your BVN
- You enter an incorrect or invalid BVN
- You do not receive a confirmation or verification code on your phone or email
- You see an error message or a blank screen on the portal
- You do not see your loan status or you see a different loan status than expected
You can try the following solutions:
- To get or retrieve your BVN, you can dial 5650# on your phone, or visit any bank branch or ATM with your ID card and request for your BVN
- To enter a correct and valid BVN, you can double-check your BVN on your phone, bank statement, or ID card, and make sure you enter it correctly and completely on the portal
- To receive a confirmation or verification code, you can check your phone or email for any messages from NMFB or NIRSAL, and make sure you enter the code correctly and timely on the portal
- To avoid an error message or a blank screen, you can refresh the portal, clear your browser cache and cookies, use a different browser or device, or try again later
- To see your correct loan status, you can check the product or scheme that you applied for, the date and time of your application, the documents and information that you submitted, and the feedback or communication that you received from NMFB or NIRSAL
If none of these solutions work, or if you have any other questions or complaints, you can contact the NMFB or NIRSAL customer care through the following channels:
- Phone: 09010026900, 09010026901, 09010026902, 09010026903, 09010026904
- Email: covid19@nmfb.com.ng, info@nmfb.com.ng, info@nirsal.com
- Website: https://nmfb.com.ng/covid-19-support/, https://nirsal.com/contact-us/
- Social media: Facebook, Twitter, Instagram, LinkedIn, YouTube
How to Apply, Repay, and Access Other Services Related to NIRSAL Loan
If you are interested in applying, repaying, or accessing other services related to NIRSAL loan, you can follow these steps:
- To apply for NIRSAL loan, you need to visit the NIRSAL loan application portal, choose the product or scheme that suits your needs and eligibility, fill and submit the online application form, upload the required documents, and wait for the approval and disbursement of your loan
- To repay NIRSAL loan, you need to visit the NIRSAL loan repayment portal, enter your BVN and loan reference number, choose your payment method, enter your payment details, and confirm your payment
- To access other services related to NIRSAL loan, such as training, mentoring, monitoring, or evaluation, you need to visit the NIRSAL website, choose the service that you need, register or login to your account, and follow the instructions and guidelines
Conclusion
NIRSAL loan is a type of loan that is offered by the NIRSAL and the NMFB to support SMEs, farmers, traders, and other eligible beneficiaries in various sectors of the economy, especially in the agricultural value chain. The NIRSAL loan is part of the CBN’s intervention programs to mitigate the impact of the COVID-19 pandemic on the economy and to stimulate economic recovery and growth.
NIRSAL loan is accessible through the NIRSAL loan application portal, where applicants can fill and submit their online application forms, upload their required documents, and track their loan status. One of the common issues that applicants face is how to check their NIRSAL loan status with their BVN. BVN is a unique 11-digit number that is issued by the CBN to identify and verify bank customers in Nigeria.
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