Are you a farmer or ready to venture into farming business? Do you need the federal goverment interest-free loan to boost your agro-business? If ‘yes’, you are on the right page. In this post, you will learn how to apply for FarmerMoni loan, an initiative 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 scheme 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 without interest or 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
- 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)