Are you are a farmer? Do you need interest-free loan to boost your farming business? If ‘yes’, you are on the right page as we will show you how to apply for FarmerMoni loan of the Federal Government.
FarmerMoni is a federal government loan initiative under the Government Enterprise and Empowerment Programme (GEEP), aimed at funding farming related businesses across Nigeria. This government loan initiative is open to farmers in all the 36 states in Nigeria including FCT, and you can easily submit your application online.
FarmerMoni loan is repayable over a period of six (6) months. The scheme enable beneficiaries to access higher amount up to N300,000. This is a no interest and no collateral loan.
Requirements to register FarmerMoni loan in Nigeria
Below are requirements to access for FarmerMoni loan;
- Applicants must be a Nigerian
- Must be eighteen (18) years and above
- Applicants must have a Bank Verification Number (BVN) and a savings account.
- Must be a member of any approved corporative group. The group must be registered with Cooperate Affairs Commission (CAC)
- Applicants must have a valid means of identification such as National Identity Number (NIN) or voter’s card. See how to check your NIN with your mobile phone.
How to Register/Apply for FarmerMoni Loan
Follow the steps below to register for farmer money loan;
- Visit bank of industry official website at https://www.boi.ng/apply
Click on ‘Register’, and enter your information
A verification link will be sent to your email address
Check your email inbox, and click on the verification link
Login to complete the application form.
After submitting your application, the loan is paid within 48 hours to a mobile wallet account which can be cashed out.
Divisions of GEEP loan initiative
Below are other federal government loan schemes you can apply under the Government Enterprise and Empowerment Programme (GEEP)