The Federal Government powered Trader Moni Loan is for small scale business Nigerian citizens that will benefit from loans within the range of N15,000 to N50,000 if they can pay back N10,000 within a specific amount of time in the stipulation.
What is Trader Moni Loan?
The loan scheme is for everybody, notwithstanding their educational status and business. The FG Trader Moni Loan gets across all the states to business beneficiaries per State across the federation to kick-start or expands the scope of their businesses irrespective of their location.
This Loan initiative from the Government Enterprise and Empowerment Programme (GEEP), is aimed at empowering about two million petty traders financially. Applying for the Trader Moni Loan was made to be quick and easy for business entrepreneurs.
Trader Moni Loan Beneficiaries
Potential beneficiaries of the Trader Moni Loan will be paid a visit by an enumeration agent. The agent will verify the cooperative union you belong to and confirm if your application form submitted in line with your cooperative. When every credential has been examined and approved, you will receive a text message notification.
- The scheme will grant a minimum of 30,000 loans in each state
- The N2million mark is expected to exceed by 2021
- Over 500,000 possible beneficiaries have already been listed
Federal Government Trader Moni Loan Requirements
- The Loan Scheme is for Nigerians alone
- For persons above the age of 18 years
- Strictly for business people
- You must be a member of a cooperative market union in you are
- Candidates must provide a valid identification means
- Application required a valid BVN
- A working sim card and mobile phone
How to Apply for Boi
- Visit http://www.boi.ng/apply/register
- Locate the Bank of Industry web: boi.ng.
- Select “Apply for a loan now.”
- Choose “Register here” to register your account.
- You will receive a link and tracking code via your designated email address; click on the verification link to proceed to login.
- When the login is successful, you can then complete the form, save and select “continue” to submit the form.
- You will then receive an email verifying receipt of the application.