The NiRSAL Microfinance Bank (NMFB) provides several loans and grants that are designed to help Nigerian entrepreneurs, small-scale entrepreneurs, and startup companies. These programs are backed through the Central Bank of Nigeria (CBN) and other federal grants that aim to create jobs and improve productivity for small-scale entrepreneurs.
By 2025, NIRSAL Microfinance Bank continues to run programs like the Targeted Credit Facility (TCF), the Agric-Business/Small and Medium Enterprises Investment Scheme (AGSMEIS), and the Nigeria Youth Investment Fund (NYIF). These funds offer soft loans and grants at low interest rates that help individuals as well as MSMEs across various sectors.
This guide will explain exactly what NMFB grant and loan programs are. their application process, the funding structure, eligibility requirements and how to apply for them successfully.
What is the NIRSAL Microfinance Bank Grants and Loans
NiRSAL Microfinance Bank (NMFB) is a licensed financial institution that was established through the Central Bank of Nigeria to offer affordable financial services to micro, small and medium-sized businesses (MSMEs). It serves as an intermediary between federal intervention funds and CBN-backed loan schemes.
The NMFB provides two major types of financial assistance:
Grants: Non-repayable financial aid to businesses or individuals who are eligible to support specific projects or programs.
Loan: Zero-interest or low-interest credit facilities that are designed to grow or stabilise businesses.
The programs target entrepreneurs working in manufacturing, agriculture, transport, trade, ICT and the creative industries. The mission of the NMFB is to lower the unemployment rate in Nigeria by making loans accessible to small-scale entrepreneurs and innovators in rural areas who are not able to obtain commercial bank loans.
The information may differ based on the program’s phase. Verify information through the portals of the NMFB and CBN before submitting an application.
Funding & Coverage of NIRSAL Microfinance Bank Programs
NIRSAL Microfinance Bank offers several active programs in 2025 with specific funding limits, target sectors, and repayment terms.
| Program Name | Funding Range | Interest Rate | Tenure/Duration | Target Group |
| AGSMEIS | Up to ₦10 million | 9% per annum | Up to 7 years | MSMEs in agriculture, manufacturing, services |
| Targeted Credit Facility (TCF) | ₦500,000 – ₦25 million | 5%–9% per annum | Up to 3 years | SMEs affected by COVID-19 |
| Nigeria Youth Investment Fund (NYIF) | ₦250,000 – ₦3 million | 5% per annum | Up to 5 years | Youth entrepreneurs aged 18–35 |
| Anchor Borrowers’ Programme | ₦100,000 – ₦10 million | 5% per annum | Based on project cycle | Farmers and agricultural cooperatives |
| Non-Interest Banking Window (for TCF & AGSMEIS) | ₦500,000 – ₦10 million | 0% (profit-sharing model) | 3–7 years | Entrepreneurs seeking Sharia-compliant funding |
Eligibility for NIRSAL Microfinance Bank Grants and Loans
The requirements for eligibility vary by program however, the basic requirements comprise:
- The applicant is required to be a Nigerian citizen or a registered business that is operating in Nigeria.
- You must have a Bank Verification (BVN) number. (BVN) and an active bank account.
- Hold a registered company name or CAC certification.
- Submit a business plan or proposal that aligns with the objectives of the program.
- You must not be a defaulter on loans at an institution of financial worth.
The youth-centered programs (like NYIF) require applicants to be between 18 and 35. Preference is granted to rural farmers, women entrepreneurs and nimble startups.
List of Available NIRSAL Microfinance Bank Programs for Entrepreneurs (2025)
| Program | Focus Area | Funding Type | Application Portal |
| AGSMEIS | Agribusiness and SMEs | Loan/Grant | Apply via NMFB Portal |
| Targeted Credit Facility (TCF) | COVID-19 recovery, SMEs | Loan | Apply via NMFB Portal |
| Nigeria Youth Investment Fund (NYIF) | Youth entrepreneurship | Loan/Grant | Apply via NMFB NYIF Portal |
| Anchor Borrowers’ Programme | Agricultural production | Loan | Apply via NMFB ABP Portal |
| Non-Interest Banking Window | Sharia-compliant enterprises | Loan | Apply via NMFB NIB Portal |
How to Apply for NIRSAL Microfinance Bank Grants and Loans
- Explore Programs Available Read through the NMFB programs listed above and choose one that best fits your company kind and your eligibility.
- Create Your Documents • Gather the CAC Certificate, your BVN identification, business plans and a utility bill.
- Access the NMFB Official Portal – Log in on the application online page of the selected program.
- Complete the Application Formula Fill in the correct personal and business information and upload any required documents.
- Submit and wait for review – Submit and Await Review NMFB officers will evaluate the eligibility of applicants in conducting verification tests.
- Training or interview (if relevant) — Some programs might require entrepreneurship training or a short interview.
- Receive Approval and Payment Approved applicants will be notified by either SMS or email, and the funds are transferred into their account.
Required Documents for NMFB Application
- A valid method for identification (National ID, voter’s card, ID card, international passport)
- Certificate of registration for business (CAC)
- Bank Verification Number (BVN)
- Tax Identification Number (TIN) (optional for small-scale businesses)
- Plan of business or proposition
- Document proving residence and utility invoice
- Passport photos
- Letter of reference or guarantor’s form (for loan)
Timelines
Review of applications is between 2 and 6 weeks depending on the volume of applications and the quality of documentation.
Disbursement can be made within 2 to 4 weeks of the approval.
Repayment and monitoring plans are directly communicated to each successful applicant.
Common Challenges or Warnings
- Beware of scammers or those who claim to accelerate NMFB loans in exchange for an expense.
- There is no application cost that must be paid for any NMFB loan or grant program.
- Applications that have false information or unreliable BVN information are rejected automatically.
- Make sure your contact or email is active to ensure that you receive follow-up messages.
- Verify your grant or loan status only on your NMFB official website. NMFB, the official site.
FAQs on NIRSAL Microfinance Bank Grants and Loans
1. Is NIRSAL Microfinance Bank still giving out loans in 2025?
Yes. NMFB continues to manage several active federal loan and grant schemes.
2. Can I apply for more than one NMFB program?
You can apply for multiple programs if eligible, but you cannot receive funding from more than one at the same time.
3. What is the minimum amount I can get?
The lowest facility amount is ₦250,000 under NYIF or TCF programs.
4. Are NMFB grants repayable?
No, genuine grants are non-repayable, but most NMFB funds are low-interest loans.
5. What sectors does NMFB support?
Agriculture, trade, manufacturing, ICT, transport, and creative industries.
6. How long does approval take?
Usually between 2 and 8 weeks.
7. Can startups apply?
Yes. Startups can apply if they have a solid business idea and proper documentation.
8. Is collateral required?
No traditional collateral, but guarantors or business assets may be used for security.
9. How do I track my loan status?
Log in to your NMFB account portal to view application status.
10. Does NMFB give grants to individuals?
Yes, through certain government-backed schemes like the NYIF and AGSMEIS grant component.
11. Can I apply offline?
No. All NMFB applications are processed online via official portals.
12. Are there non-interest options?
Yes, NMFB provides Islamic (Sharia-compliant) financing under its Non-Interest Banking window.
Comparison: NMFB vs. CBN Small Business Programs
| Feature | NIRSAL Microfinance Bank | Central Bank of Nigeria (CBN) |
| Type of Support | Disbursement and management of grants/loans | Policy design and funding allocation |
| Beneficiaries | Entrepreneurs, farmers, MSMEs | Banks, state programs, and NMFB |
| Interest Rate | 0%–9% | 0%–9% |
| Application Channel | NMFB official portals | Through NMFB or partner banks |
| Main Programs | AGSMEIS, TCF, NYIF | AGSMEIS, CIFI, MSMEDF |
Conclusion
The NIRSAL Microfinance Bank grants and loans offer valuable financial support for Nigerian entrepreneurs looking to expand their businesses or launch new ventures. By applying through the official NMFB channels, preparing the required documents, and following the correct process, you can secure affordable funding to grow your enterprise.
Always confirm program details and application windows through official NMFB or CBN sources before applying.
Disclaimer: FederalGrantsInfo.com provides verified information for educational purposes only. We do not distribute grants or charge any application fees. Always confirm current details through official portals.