NIRSAL Microfinance Bank (NMFB) has continued its push to support small and medium-sized enterprises (SMEs) in Nigeria with its Small and Medium Enterprise Facility (NMFB SME), offering funding starting from ₦300,000 and above.
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The initiative is designed to provide accessible financing for existing business owners, especially those involved in trading and related sectors. With flexible loan options and competitive rates, the scheme aims to ease financial constraints and accelerate business growth across the country.
According to the bank, the SME loan targets entrepreneurs dealing in key commercial areas, including:
- Food and beverages
- Electronics and electricals
- Allied products
- Computers and accessories
- Phones and mobile gadgets
- Spare parts
- Building materials
Applicants can access funding from ₦300,000 upwards, depending on the scale and needs of their business.
NMFB emphasised that the facility is tailored specifically for existing customers who are actively engaged in trading activities, ensuring that funds are channelled into viable and operational businesses.
Beyond the SME loan, the bank also highlighted other financial products available to Nigerians, including:
- NMFB Salary Advance (SALAD)
- NMFB Petty Cash (Now Now)
- Agricultural Finance Facility (AFF)
- Consumer Assets Finance Facility (CAFF)
- NMFB Amazon Loan
- NMFB Overdraft
The bank currently operates over 115 branches nationwide, improving accessibility for business owners across different regions.
As part of its digital banking support, NMFB also provides a USSD service (*646#), allowing customers to carry out transactions such as airtime purchase, balance checks, and bill payments without internet access.
Interested applicants are encouraged to apply online via the NMFB website or visit any of the bank’s branches for more information.
The NMFB SME Facility remains one of the bank’s strategic efforts to empower Nigerian entrepreneurs, drive economic development, and strengthen the SME sector, which plays a critical role in job creation and national growth.
