GrantPilot does not give out this funding; NIRSAL Microfinance Bank does. We help you find it, check it is real and get ready to apply.
NIRSAL Microfinance Bank lends ₦50,000 to ₦3m to registered Nigerian SMEs across agriculture, manufacturing, services and trade at interest rates from 9% p.a., with repayment terms up to 5 years and online application.
Low‑interest SME loan product offered by NIRSAL Microfinance Bank, accessible online with tenors up to 5 years and interest rates starting around 9% p.a.
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Registered Nigerian business (CAC), BVN, valid ID, minimum 6 months operating history, bank statement and proof of income.
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NIRSAL reviews applications based on business registration status, operating history, ability to provide proof of income, and the loan amount requested. Assessment typically considers your bank statements and business cash flow over the previous 6 months. The bank operates on a rolling basis, so there is no fixed deadline; applications are processed as received. Approval timelines vary depending on application completeness and verification of documents.
What reviewers look for
Timelines depend on how quickly you submit complete documents and how long verification takes. Typically a few weeks, but incomplete applications can take much longer.
No. This product caps loans at ₦3m. You would need to explore other products or facilities from NIRSAL or other lenders for larger amounts.
The listing does not specify collateral requirements. Contact NIRSAL directly to ask whether they require security, a personal guarantee or other guarantees for your loan size.
You are not eligible under this product's minimum operating history requirement. Once you reach 6 months, you can apply.
The product is open to agriculture, manufacturing, services and trade. Confirm with NIRSAL if your specific business type falls into one of these sectors.
Guide written from the official programme page on 8 November 2026. Funders change their rules, so confirm the details on the official page before you apply.
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