Getting access to funding as a small business owner, entrepreneur, or farmer in Nigeria can be challenging. However, with the NIRSAL Microfinance Bank (NMFB) loan program, it’s now easier to access affordable loans backed by the Central Bank of Nigeria (CBN). This guide explains everything you need to know about the NIRSAL Loan Application Portal 2026, including how to apply, eligibility requirements, and tips to increase your approval chances.
What Is NIRSAL and Why It Matters in 2026
The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) was introduced by the Central Bank of Nigeria to encourage banks to lend more to agriculture and small businesses. Through its microfinance arm, NIRSAL Microfinance Bank, the organization provides loans to individuals and small business owners under several federal government initiatives.
As of 2026, the NIRSAL loan portal remains one of the most trusted and popular government-backed lending platforms in Nigeria. It serves millions of applicants seeking Household Loans, SME Loans, and AGSMEIS Loans.
Available NIRSAL Loan Categories in 2026
If you’re looking to apply for a NIRSAL loan in 2026, it’s important to know the different loan options available. Each loan type targets specific sectors or needs.
1. Household Loan
This loan helps individuals cover family needs, small businesses, or emergencies. It’s ideal for traders, artisans, and micro-entrepreneurs.
2. SME Loan
Small and Medium Enterprises (SMEs) can apply for funding to expand their businesses, purchase equipment, or increase working capital.
3. AGSMEIS Loan
The Agricultural Small and Medium Enterprises Scheme (AGSMEIS) focuses on farmers and agri-business owners who want to grow their production capacity.
4. Anchor Borrowers Programme (ABP)
Farmers and agricultural cooperatives can access financing under this CBN-backed program managed through NIRSAL MFB.
Eligibility Requirements for NIRSAL Loan 2026
Before you apply, make sure you meet the general eligibility criteria:
Must be a Nigerian citizen aged 18 and above.
Must have a valid means of identification (NIN, voter’s card, or driver’s license).
Must have a registered business or verifiable source of income.
Must possess a BVN (Bank Verification Number).
Must have a functional bank account linked to your BVN.
Tip: Ensure your BVN details match your application information to avoid disqualification.
How to Apply for the NIRSAL Loan Online (Step-by-Step)
Follow these steps carefully to submit your application successfully on the NIRSAL Loan Portal:
Step 1: Visit the Official NIRSAL Loan Portal
Go to the verified website: https://nirsalmfb.com
Make sure you’re on the official site to avoid scams or fake websites.
Step 2: Choose Your Loan Type
Click on the appropriate loan category — either SME, Household, or AGSMEIS.
Step 3: Complete the Application Form
Fill in your personal and business information accurately:
Full name
BVN
Business name
Address
Type of business
Loan amount requested
Step 4: Upload Required Documents
Documents may include:
Valid ID card
Business registration certificate (if applicable)
Bank statement (at least 6 months)
Passport photograph
Step 5: Submit and Wait for Verification
After submission, NIRSAL MFB will review your details and verify your BVN, bank account, and eligibility.
Step 6: Disbursement
If approved, the loan amount will be credited directly to your bank account. Notifications are sent via email or SMS.
How to Check Your NIRSAL Loan Approval Status
If you’ve already applied, you can check your loan status online:
Visit the portal https://nirsalmfb.com/
Click on “Check Loan Status”
Enter your BVN and click “Submit”
The page will display your approval or disbursement update
NIRSAL Loan Interest Rate and Repayment Terms (2026 Update)
As of 2026, NIRSAL loans still offer one of the most affordable interest rates in Nigeria — between 5% and 9% per annum, depending on the loan type.
Repayment periods range from 12 to 36 months, allowing borrowers to manage payments easily.
Repayment Channels Include:
NIRSAL MFB Mobile App
Direct Bank Transfer
NMFB Branch Office Payment
Common Reasons NIRSAL Loan Applications Get Rejected
Many applicants face rejection due to small avoidable mistakes. Here are common causes:
Incorrect or mismatched BVN information
Fake or unverifiable documents
Applying multiple times with different details
Inactive bank account
Poor credit history
Pro Tip: Submit only one accurate application and ensure your information matches your BVN and bank records.
How to Contact NIRSAL Microfinance Bank (NMFB)
For help or verification, you can reach NIRSAL MFB via:
Official Website: https://nirsalmfb.com
Email: [email protected]
Phone: +234 704 183 8877
Head Office Address: Plot 1581, Tigris Crescent, Maitama, Abuja, Nigeria