WorldChanger7:
There is no case sir! When you apply, their feedback says, you will need an electronic business plan, do you want CBN to develop that one for people too?
All NIRSAL did was to get a company that can do it at discount which is what you people are claming as the processing fee

it should be optional, not compulsory, moreover, NIRSAL should not have solicited for the company on their website, it looks shady,
Let the people decide who develop their own business plan

Someone should please assist me with transport to hospital today, am having serious chest pain right now, I stay at igando and am going to doren hospital at Ajah for chest X ray. Please help a brother. Am handyman, two weeks no jobs, death calling some people now.



Gtbank 0241857361

God bless you all abundantly

gudnews212:

Please, I will need one. Thanks

Which sector?

maxdelwal:
@kheart
l need u to assist me on standardize business plan or household wateva to apply for the loan.
Thank u

Tell me ur sector and how much u re applying for

Chekwume16:
This just shows you are a dummy. How many businesses are aware of credit registry and how many of them have access to movable properties that can qualify for this. If you understand that this is suppose to help medium and small enterprises stand then you will know that the conditions are as tight as any standard credit requirement. This is suppose to be a palliative with just guarantors, credit report, business plan and turnover as requirement. Please try to understand what is at stake before coming here to expose your ignorance. quote author=deenee post=88422381]

Do you even know what moveable collateral is and or even the items that can form part of the registry? Maybe you would have preferred them adking for landed property

People just come and type rubbish here. More so working capital is typically short term and shouldn't exceed one year with options of renewal.

The facility is meant to be a revolving facility meaning that people are expected to access it, pay down so others can do same. So if everybody takes and refuses to pay down how will others be able to access it?

Secondly part of the CBN requirement which is typical with any credit application globally is the demand for a business plan in addition to a credit search.

Most of the participating institutions have then decided to bundle this into a template for prospective borrowers using a for ease of reference at a token fee

This is the 10k that these muffons are screaming about. These same services will probably cost about 10 times the amount if done by a private consultant.

Too many uneducated people in this country.

God bless Nigeria.

I dont need to exchange any banter with you. You are definitely one of the reasons why the country can't move forward.....you along side other backward thinking Nigerians with their national cake and entitlement mentality.

And what exactly is at stake? There is a global pandemic and CBN in response has set up a 50b naira TCF for SMEs affected by the pandemic and those in sectors critical to the reduction of the pandemic and they have even said the loans will be at 5% in year one and 9% subsequently.

To access, submit a business plam and credit
check which is standard with any loan....please note that this is not a social investment program or palliative as you have losely termed it but rather a temporary stop gap to help SMEs tide over this period.

Y'all thinking this is national cake so you can quickly chop and clean mouth. Any serious SME will know that business plan is core to their business. At inception you will need it to guide the growth plans and trajectory of the business-whether loan is involved in any way or not. Credit check is to determine your credit history and know if you are the type that will be borrowing money up and down without the intention of paying back.

Finally to educate you on what moveable collateral is....it is not landed property but any other asset with a net worth andcan be pledged as security. This can range from stock hypothecation to even your school certificates and even third party insurance .

I know of a lady that used her school cert to access about 500k of BOI NYSC loans to set up a small pastry shop during her service year. Lady paid back before the end of service and has expanded her business to 3 locations....this was 2 years ago!

Sit down there and be waiting for govt hand out

meekparagon:
Someone should please assist me with transport to hospital today, am having serious chest pain right now, I stay at igando and am going to doren hospital at Ajah for chest X ray. Please help a brother. Am handyman, two weeks no jobs, death calling some people now.



Gtbank 0241857361

God bless you all abundantly

Igando to ajah just for xray in this lockdown.?..bro stop lying. are you saying that there are no hospitals or diagonistic centers on the mainland that can attend to you that you must travel to ajah from igando?

This is one of the reasons why people become weary of helping.

If you are sincere inbox me privately, i will direct you to a doctor on the mainland for the xray but know this no cash will be credited to your account.

deenee:


Igando to ajah just for xray in this lockdown.?..bro stop lying. are you saying that there are no hospitals or diagonistic centers on the mainland that can attend to you that you must travel to ajah from igando?

This is one of the reasons why people become weary of helping.

If you are sincere inbox me privately, i will direct you to a doctor on the mainland for the xray but know this no cash will be credited to your account.

Igando at awoyaya along epe bro, beside am using life worth card. No tp down to the hospital.here with me. Thanks for commenting

JobVacanciesNG:
What is this then?

Requesting 10 K to access COVID-19 loan

what email did you use to upload your documents

somehow:
Oga, if micro loan apps and companies won't charge you #1 to check your credit score before granting you loans and even other private companies granting business loans don't do same, WHY SHOULD A GOVERNMENT BACKED AGENCY/COMPANY charge?

Explain that!

It shows now that you dont have a clue how these things work so let me educate you.

Mirco loans will borrow you small amounts for relatively shorter periods at double digit rates. So for them they quantify their risk and return on a portfolio basis and ask the following vital questions in the process

How much profit or loss they are willing to accomodate vis-a-vis the risk on the portfolio and by risk i mean the risk of default. Eg people like you and other backward thinking Nigerians in the same cohort refusing to pay when due.

What is their single obligor limit per borrower. In the case of the TCF max obligor limit is 25m and i can bet you there is no private lender that will give you such an amount without due diligence.

On the other hand the micro lenders can lend the same 25m to over 500 borrowers at double digit rates that will almost double the prinpical for them and with minimal default rate because the proability of 500 people defaulting on a loan is way lower that of 10 people or even 1doing same on the same loan. I hope you understand why they dont bother moreso the cost is already embedeed in the double digit rates charged

Maybe you are thinking this is one of those social media giveaways....sorry to bust your bubble but it isn't

God bless Nigeria

I assume you just left school and want to showcase what you read in text books. I won't blame you there. Palliatives are designed to achieve a purpose. Do a random check of SME's, you will find out that less than 10% know what a credit registry is. These same businesses employ more than 90% of the informal sector. These your formality is not what will kick start the economy. CBN must design a product that suits our peculiar environment. The way it is structured, less than 5% of the intended users will be able to access it. It is the same problem that commercial banks have that has made access to their credit a herculean task. The facilities should be in ranges as per need and requirement and it should be disbursed through any bank of your choice. It only requires that credit officers are assigned to every bank for proper monitoring. CBN should be giving loans at 5% as a palliative. It is took high and the 1 year tenor for repayment of working capital is too short for a business that has gone through the shock of lockdown. Please stop quoting theories of working capital being short term loans because the situation now is different.

deenee:



I dont need to exchange any banter with you. You are definitely one of the reasons why the country can't move forward.....you along side other backward thinking Nigerians with their national cake and entitlement mentality.

And what exactly is at stake? There is a global pandemic and CBN in response has set up a 50b naira TCF for SMEs affected by the pandemic and those in sectors critical to the reduction of the pandemic and they have even said the loans will be at 5% in year one and 9% subsequently.

To access, submit a business plam and credit
check which is standard with any loan....please note that this is not a social investment program or palliative as you have losely termed it but rather a temporary stop gap to help SMEs tide over this period.

Y'all thinking this is national cake so you can quickly chop and clean mouth. Any serious SME will know that business plan is core to their business. At inception you will need it to guide the growth plans and trajectory of the business-whether loan is involved in any way or not. Credit check is to determine your credit history and know if you are the type that will be borrowing money up and down without the intention of paying back.

Finally to educate you on what moveable collateral is....it is not landed property but any other asset with a net worth andcan be pledged as security. This can range from stock hypothecation to even your school certificates and even third party insurance .

I know of a lady that used her school cert to access about 500k of BOI NYSC loans to set up a small pastry shop during her service year. Lady paid back before the end of service and has expanded her business to 3 locations....this was 2 years ago!

Sit down there and be waiting for govt hand out

How can i apply for the loan? I need it for my fabrics business

Chekwume16:
I assume you just left school and want to showcase what you read in text books. I won't blame you there. Palliatives are designed to achieve a purpose. Do a random check of SME's, you will find out that less than 10% know what a credit registry is. These same businesses employ more than 90% of the informal sector. These your formality is not what will kick start the economy. CBN must design a product that suits our peculiar environment. The way it is structured, less than 5% of the intended users will be able to access it. It is the same problem that commercial banks have that has made access to their credit a herculean task. The facilities should be in ranges as per need and requirement and it should be disbursed through any bank of your choice. It only requires that credit officers are assigned to every bank for proper monitoring. CBN should be giving loans at 5% as a palliative. It is took high and the 1 year tenor for repayment of working capital is too short for a business that has gone through the shock of lockdown. Please stop quoting theories of working capital being short term loans because the situation now is different.

Bro go through my profile and i will leave it at that....again i will take it as my duty and responsibility to educate you...free of charge and for your own benefit

Maybe you should also apply for TEF and other private sector SME grants since you are looking for free money and see if they won't ask you for the same requirements.


Simple busines plan which should be standard for any business-informal or formal, you are ranting up and down. Even the collateral registry is the global stanard in developing economies and endorsed by the IFC and World Bank. It works very well in kenya, ghana, india etc and has been introduced in nigeria and yall all complaining?

Please go and read how the registry works before you condemn it

My friend be realistic. Like I told you forget about where it is working. I don't know what you mean by free money. It is our money. Make it easy for people to access. Some countries are giving money to people unemployed by this crises. Times like this require practical results. Design products that suit your situation. Thank you

deenee:



Bro go through my profile and i will leave it at that....again i will take it as my duty and responsibility to educate you...free of charge and for your own benefit

Maybe you should also apply for TEF and other private sector SME grants since you are looking for free money and see if they won't ask you for the same requirements.


Simple busines plan which should be standard for any business-informal or formal, you are ranting up and down. Even the collateral registry is the global stanard in developing economies and endorsed by the IFC and World Bank. It works very well in kenya, ghana, india etc and has been introduced in nigeria and yall all complaining?

Please go and read how the registry works before you condemn it

Chekwume16:
My friend be realistic. Like I told you forget about where it is working. I don't know what you mean by free money. It is our money. Make it easy for people to access. Some countries are giving money to people unemployed by this crises. Times like this require practical results. Design products that suit your situation. Thank you

Point of correction. It is not your money. Do you pay taxes? If yes to what extent? If no you should just keep quiet and be a spectactor in the scheme of things.

Do you even know where the funds are coming from? You think it's part of tbe national cake that yall want to share and partake in?

Let me educate once again....money comes from a certain portion of the retained earnings of banks set aside for intervention purposes such as this. So please instead of castigating the CBN, banks and other institutions....just say thanks and move on.

God bless Nigeria

GOD WIL PUNISH THEM ALL FOR LIEING TO US. ..STIL WANT YOU TO TELL ME HOW TO APPLY.

Please when they start to give to SME I am interested kindly call through my signature. Thank you in advance, or better still send their phone no

BleedingPen:


http://igberetvnews.com/1347638/covid-19-cbn-speaks-collecting-fees-process-loans/

how many percent interest rate

This guy you have a lot to learn. Which money came from which banks? So you think the donations made by banks through the CBN was to be given out as loans on interest? Is CBN not a revenue generating agency? Who owns the money that is generated. So all the interventionist actions of the CBN to keep the economy afloat is contributed by banks. Please research further

deenee:



Point of correction. It is not your money. Do you pay taxes? If yes to what extent? If no you should just keep quiet and be a spectactor in the scheme of things.

Do you even know where the funds are coming from? You think it's part of tbe national cake that yall want to share and partake in?

Let me educate once again....money comes from a certain portion of the retained earnings of banks set aside for intervention purposes such as this. So please instead of castigating the CBN, banks and other institutions....just say thanks and move on.

God bless Nigeria

Chekwume16:
This guy you have a lot to learn. Which money came from which banks? So you think the donations made by banks through the CBN was to be given out as loans on interest? Is CBN not a revenue generating agency? Who owns the money that is generated. So all the interventionist actions of the CBN to keep the economy afloat is contributed by banks. Please research further

You keep displaying your ignorance more and more. Please read my last chat again and tell me where I mentioned donations. You can quote me any where and do your research....banks are mandated by the CBN to contribute a portion of their retained earnings towards a sinking fund with the CBN from which the intervention funds are drawn including the MSME fund, Export facility fund, CACS and Covid TCF.

Again to educate you since you have brought it up, the Cacovid donations from banks and other private sector individuals and firms is managed by a technical committee comprising captain of indutries with the CBN and domicilled with five banks.

It's easy for you to hide behind a mobile device and type nonsense misleading people in the process. Again the TCF is not free money, if you want free money, go and register with any of the social investment programs so you can build your life around govt hand outs.

Finally, CBN is a revenue generating agency (at least you got this right) but the revenue is not your money niether is it part of the national cake you are so much gagging to share. Rather, it belongs to the govt.

God bless Nigeria.

Lol, its not our money. It belongs to the government. Who owns the government and who are they answerable to? Any money acruable to the government is a common pool. I have told you that you are reading from the text book. When you start working you will understand how the CBN does its interventions. For now you can wallow in your ignorance.

deenee:



You keep displaying your ignorance more and more. Please read my last chat again and tell me where I mentioned donations. You can quote me any where and do your research....banks are mandated by the CBN to contribute a portion of their retained earnings towards a sinking fund with the CBN from which the intervention funds are drawn including the MSME fund, Export facility fund, CACS and Covid TCF.

Again to educate you since you have brought it up, the Cacovid donations from banks and other private sector individuals and firms is managed by a technical committee comprising captain of indutries with the CBN and domicilled with five banks.

It's easy for you to hide behind a mobile device and type nonsense misleading people in the process. Again the TCF is not free money, if you want free money, go and register with any of the social investment programs so you can build your life around govt hand outs.

Finally, CBN is a revenue generating agency (at least you got this right) but the revenue is not your money niether is it part of the national cake you are so much gagging to share. Rather, it belongs to the govt.

God bless Nigeria.

Chekwume16:
Lol, its not our money. It belongs to the government. Who owns the government and who are they answerable to? Any money acruable to the government is a common pool. I have told you that you are reading from the text book. When you start working you will understand how the CBN does its interventions. For now you can wallow in your ignorance.

When you start paying taxes to the government, then the scales will drop from your eyes until then continue to wallow in your self pity and distorted perception of "government money is our money and part of the national cake so we must share it"

Thankfully, am not the one ranting because they can't afford to pay a miserly 10k for a business plan and credit check to access the TCF-part of the requirements for the loan to be processed anyways!

If you need job ..inbox me I might be able to find a role for you or maybe when you succeed at your own business with operations across three continents inbox me let me mentor your privately.

God bless Nigeria.

JobVacanciesNG:
What is this then?

Requesting 10 K to access COVID-19 loan

Please after you applied, how long did it take for you to get the message.
This is what I received since 6th April and up till now no message again. I applied for house hold.
Dear Applicant,

We are currently reviewing your preliminary COVID-19 TCF loan application.

You will be notified of any outstanding document, thereafter your loan will be declined if not submitted within 72 hours.

Thank you,

NIRSAL MFB

Just take time and study the appropriation of a banks earnings so that you understand how banks work a little and what their statutory contributions are. I can't educate you further especially as you don't want to learn.

deenee:



When you start paying taxes to the government, then the scales will drop from your eyes until then continue to wallow in your self pity and distorted perception of "government money is our money and part of the national cake so we must share it"

Thankfully, am not the one ranting because they can't afford to pay a miserly 10k for a business plan and credit check to access the TCF-part of the requirements for the loan to be processed anyways!

If you need job ..inbox me I might be able to find a role for you or maybe when you succeed at your own business with operations across three continents inbox me let me mentor your privately.

God bless Nigeria.

kheart:
I don’t know where people get their info from, I ve applied under MSME and was contacted to pay 5k for business plan if don’t ve any. I ve my business plan so I just send them my own business plan without paying a dime.

I applied for some people under d household categories, nobody ask them to pay a dime.

Contact me if u need a standardized business plan.

Please how long did it take to get their response. I applied for house hold and got this after 3days

Dear Applicant,

We are currently reviewing your preliminary COVID-19 TCF loan application.

You will be notified of any outstanding document, thereafter your loan will be declined if not submitted within 72 hours.

Thank you,

NIRSAL MFB


I got it on the 6th and up till now I have not heard from them.

Contrary issues here, just saw this on NISRAL Twitter page
This goes a long way to show that the system is not ready for the task demanded of them, hence the tongue twisting, not replying applicants.

Which way Nigeria, can't APC do the right thing once

Please those of you who applied for house hold have you been contacted. They are paying next week.

@kheart
my sector is printing and applying for 1m

Hi, You seem to have much idea, can you put me through please?

deenee:


Do you even know what moveable collateral is and or even the items that can form part of the registry? Maybe you would have preferred them adking for landed property

People just come and type rubbish here. More so working capital is typically short term and shouldn't exceed one year with options of renewal.

The facility is meant to be a revolving facility meaning that people are expected to access it, pay down so others can do same. So if everybody takes and refuses to pay down how will others be able to access it?

Secondly part of the CBN requirement which is typical with any credit application globally is the demand for a business plan in addition to a credit search.

Most of the participating institutions have then decided to bundle this into a template for prospective borrowers using a for ease of reference at a token fee

This is the 10k that these muffons are screaming about. These same services will probably cost about 10 times the amount if done by a private consultant.

Too many uneducated people in this country.

God bless Nigeria.

CBN has disbursed the Covid 19 loans and am sure majority of the wailers that threw shade here have been credited. Yet they won't come out and say so but if its to criticise and wail they will.

God bless Nigeria

deenee:



When you start paying taxes to the government, then the scales will drop from your eyes until then continue to wallow in your self pity and distorted perception of "government money is our money and part of the national cake so we must share it"

Thankfully, am not the one ranting because they can't afford to pay a miserly 10k for a business plan and credit check to access the TCF-part of the requirements for the loan to be processed anyways!

If you need job ..inbox me I might be able to find a role for you or maybe when you succeed at your own business with operations across three continents inbox me let me mentor your privately.

God bless Nigeria.

PLEASE I NEED A JOB.