FG TraderMoni N50,000 Zero Interest Loan – TraderMoni Loan 2024 Apply Now
FG TraderMoni Loan – The FG TraderMoni loan scheme is back with a higher amount from N10k to N50k. The loan scheme which was originally launched under the previous administration (Buhari government) and supervised by the then vice president Yomi Osibanjo is one of the loan programs under the GEEP(Government Enterprise Empowerment Program). The interest-free loan program was designed as an entry-level loan product for GEEP.
The loan is a 6-month interest-free loan with N10,000 (Ten Thousand Naira) as the first loan amount and is aimed at petty traders and artisans. However, in the recent relaunch by the Tiinubu-led administration, the loan amount has been increased to N50,000 as announced in October by the minister of humanitarian affairs Betta Edu.
According to her, the loan is targeted at the everyday market trader, who makes a living from what they sell daily and whose product inventory ranges from N2,000 – N5,000. With this loan, such businesses will immediately provide a structured way to increase their capital, while repaying the loan. Most targetted beneficiaries of this loan are first-time receivers of a loan from a formal financial lender.
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How The New Loan Will Be Distributed
According to the minister, the ministry will visit 109 big markets across the country to meet the sellers in different markets to open a bank account for them, and then send the money from the CBN account. This time, instead of N10,000, they will give N50,000 to each trader. However, an online application may also be available in due time as the website seems to be undergoing maintenance.
Apply Now: Presidential Palliative Loan Programme
How to Get More Than N50k From TRaderMoni Loan
Beneficiaries who want to get more than N50,000 (fifty thousand Naira) must first receive the first N50k which is the general amount for all. After using the money, they are to repay the exact sum(N50k) and then apply for a higher
Apply for the FG TraderMoni Loan of N50,000 with zero interest. Beneficiaries are required to initially receive the general amount of N50,000. Upon repayment, they can then apply for a higher loan amount. Start your application now for the FG TraderMoni Loan.
Start your application now for the FG TraderMoni Loan and receive a zero-interest loan of N50,000. With the option to apply for a higher loan amount after repayment, take advantage of this opportunity to grow your business. Apply for the FG TraderMoni Loan today.
Read also: SMEDAN/Sterling Bank N5bn Loan
Benefits of TraderMoni Loan
The TraderMoni loan offers a good number of benefits to traders and artisans and some of the benefits include the following;
- Access to affordable credit
- Flexible repayment terms
- zero paperwork
- zero Interest
The loan is also a good way for traders and artisans to expand their businesses, increase their profit margin, create jobs, and boost the Nigerian micro-economy.
Read also: How to Register Your Business On SMEDAN Registration Portal
How to Apply for FG TraderMoni
The portal to apply for this loan is here or copy the link https://nsipa.gov.ng/geep/ however, an offline application form may also be available in various markets across the country during the visit by the ministry as stated earlier. You can also ask your market leaders to know if the scheme is available in your market.
Apply Now: Federal Government and Private Loans
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