How To Apply For GEEP Loan 2021/22 – All You Need To Know
Application for the Government Enterprise & Empowerment Programme (GEEP) is still ongoing for interested applicants. In this article, we will be walking you through how to apply for the GEEP Loan.
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The Government Enterprise & Empowerment Programme (GEEP) is a direct effort of the Federal Government of Nigeria through the Bank of Industry to break a multi-decade jinx of economic growth without shared prosperity. It is an initiative by the Federal Government of Nigeria to provide financial inclusion and access to micro-credit for Nigerians at the bottom of the economic pyramid.
Main Aim of GEEP
GEEP was launched in 2016 by President Buhari led-administration charged with the aim to offer interest and collateral-free credit to the millions of Micro SMEs (MSMEs) operating at the bottom of the Nigerian economic pyramid.
GEEP Loan Products To Apply
There are four GEEP Loan products/ categories every interested applicant can apply for which is listed below:
- Trader Moni
- Market Moni
- Farmer Moni
- Npower Programme
1. Trader Moni Loan
TraderMoni is the entry-level loan product for GEEP. It is a 6-month interest-free loan, starting from N10,000 ($28) 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.
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2. Market Moni Loan
It is a 6-month interest-free loan, starting from N50,000 ($139) for small businesses under the auspices of their cooperative societies or market associations. This loan product has helped small business owners scale their businesses while offering them a comfortable repayment period.
3. Farmer Moni
FarmerMoni is a loan product targeted at smallholder farmers in the agriculture sector. This product is a 6-9 months interest-free loan, starting from N250,000 ($694) for farmers within farming clusters.
4. Npower Programme
Npower is the fourth loan category in GEEP, it is an initiative by FG to eradicate poverty and reduce the unemployment rate. To read more on Npower Programme kindly click Here.
You may also want to read List Of CBN Empowerment And Entrepreneurship Options For NEXIT.
How To Apply For GEEP Loan 2021/22
Interested applicants should kindly visit their official website https://www.geep.ng/ to apply for Trader Moni, Market Moni and Farmer Moni loan categories. While Npower Application is been done ONLY on the Npower official website https://nasims.gov.ng/
Note: Both Trader Moni, Market Moni and Farmer Moni application portal and form are currently ongoing. Npower portal will be open soon for new applications.
How To Apply For GEEP Loan 2021 – All You Need To Know