MarketMoni Loan Application – the MarketMoni is a program unique in Nigeria’s recent history. The program grants interest-free credit facilities to being microenterprises of market women and merchants, enterprising youth, artisans, and agricultural workers.
MarketMoni Loan is from the National Social Investment Office, and the initiative is targeted at expanding the scope and scale of economic possibility for the financially vulnerable of Nigerians.
The Federal Government is executing MarketMoni through the Bank of Industry (BOI), a parastatal of the Federal Ministry of Industry, Trade and Investment.
How MarketMoni Loan of Federal Government Works
The majority of loan applicants will be confused about this social intervention program by the Federal Government and will always ask is this real or fake but I emphatically assure you the program is genuine and many beneficiaries have testified to that.
More so, Lucky applicants will receive loans ranging from N10,000 to N100,000 per applicant for six months. The loan attracts no interest except a one-time 5% administrative fee that you will pay that’s all.
At the moment, over 24,000 Nigerians have benefited from MarketMoni.
The MarketMoni Loan by Federal Government has been exiting in thirteen (13) states in Nigeria, which are: Oyo, Ondo, Osun, Abuja, Akwa Ibom, Adamawa, Delta, Ekiti, Kwara, Kogi, Niger, Ogun, and Lagos and was recently extended to plateau, Jigawa and Kebbi state.
MarketMoni Terms and Conditions involved
Every program has its policies, and MarketMoni has its terms. So, before making any move to apply for MarketMoni Loan Application, you need to know the names that are involved, below are MarketMoni Terms and Conditions.
- Loan Tenor: 6 Months
- Weekly repayment with a two week grace period
- Administrative Fee of 5% (No other charges)
MarketMoni: Requirements for MarketMoni Loan Application
- You must have a valid BVN (Bank Verification Number)
- You must belong to a registered and accredited market association, cooperative group or trade group
- Your market association, cooperative or trade group must nominate you for the loan and must be willing to stand in as your guarantor before you apply
- TO get MarketMoni loan, Your market association, cooperative or trade group must be registered with BOI (Bank of Industry)
- You must have a physical business location which will be verified by MarketMoni agents before you can successfully be given the loan.
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How to Apply for MarketMoni Loan Application for Federal Government
- Kindly visit the MarketMoni loan application webpage at via apply.marketmoni.com.ng
- Now, download the MOU Template (one per co-operative)
- Download the Excel Sheet (one per co-operative) so you can provide your members’ details
- Fill the MOU template and Excel sheet carefully with the right information
- Come back to the page webpage above and submit your MOU and Excel sheet
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