Government Enterprise Empowerment Program(GEEP Loan) 2.0 Phase 2 Registration Form and How to Apply
Are you a Nigerian, do you wish to apply for Government Enterprise Empowerment Program (GEEP Loan) 2.0 phase 2 and wish to know the commencement date and requirements?
In this post, you will find all the information you need to know about Government Enterprise Empowerment Program (GEEP Loan) 2.0 second phase including the requirements and how to apply for the funding program.
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About Government Enterprise Empowerment Program(GEEP Loan)
Launched in 2016, the Government Enterprise and Empowerment Program (GEEP) is aimed at offering interest and collateral-free credit to millions of Micro SMEs (MSMEs) operating at the bottom of the Nigerian economic pyramid. The program has three(3) loan products designed to support small to medium-sized businesses. These programs include; MarketMoni, TraderMoni, and FarmerMoni.
MarketMoni
MarketMoni was the first loan product launched by GEEP. It is a 6-month interest-free loan, starting from N50,000 for small businesses under the auspices of their cooperative societies or market associations.
FarmerMoni
FarmerMoni is a loan service targeted at smallholder farmers in the agriculture sector. This product is a 6-9 months interest-free loan, starting from N250,000 for farmers within farming clusters. The loan is tailored to suit the peculiarities of the different planting seasons and farming requirements. This product also includes a guaranteed off-taker who commits to purchasing the farming produce from beneficiaries of this loan for the purpose of local food production.
TraderMoni
Just like its counterparts, TraderMoni is an entry-level loan product for GEEP. It is a 6-month interest-free loan, starting from N10,000 (Ten Thousand Naira) aimed at petty traders and artisans. This loan is targeted at the everyday market trader, who makes a living from what they sell on a daily basis and whose product inventory ranges from N2,000 – N5,000. This loan immediately provides them with a structured way to increase their inventory, while repaying the loan. Most beneficiaries of this loan product are first-time receivers of a loan from a formal financial lender.
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GEEP Loan Phase 2 Registration
The Federal Government, through the Ministry of Humanitarian Affairs, Disaster Management, and Social Development has announced the commencement date for registration for the Government Enterprise Empowerment Programme (GEEP) 2.0 Loan Second Phase.
According to the information released on Monday by the Federal Ministry of Humanitarian Affairs, Disaster Management, and Social Development, in a release titled “GEEP 2.0 CONCLUDES STEP DOWN TRAINING NATIONWIDE” the second phase of GEEP 2.0 is set to start in the month of August 2022.
This announcement comes as the various levels of officers concluded their train-the-trainer program called “Advanced Step-Down Training” in a recent program held in various parts of the country.
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GEEP 2.0 Phase 2 Registration Procedure
In order to improve beneficiary registration procedures moving forward, the Federal Ministry of Humanitarian Affairs, Disaster Management, and Social Development brought its training program to the States, where the Master Trainers had an impact on 774 COMOs/GEEPDOs spread across the Local Government Areas by using the digital applications on the tablets that were provided by the government. This was done to prepare the officers for the second round of GEEP 2.0 beneficiary registration, which is set to begin in August 2022.
The three-day training program offered a thorough framework for improving beneficiary registration procedures and putting GEEP 2.0’s digital transformation into practice. These improvements will include tools and methods that will be used nationally in Trader Moni, Market Moni, and Farmer Moni.
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Government Enterprise Empowerment Program GEEP 2.0 Phase 2 Registration Portal
At the moment, the ministry is yet to release the application portal nor have they said if the previous portal will be used but they have made special emphasis on the importance of NIN in the registration hence all interested persons in the program must have their NIN before the commencement date.
There is also a chance that this registration will be conducted by the officers in various LGAs to ensure accurate data records and data collection. We will give more updates on this as the registration commences.
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