The Government Enterprise and Empowerment Program (GEEP) loan is a federal government scheme created to help existing micro, small and medium enterprises (MSMEs) in Nigeria. In this post, we will show you how to apply for GEEP 2.0 loan zero-interest rate.
GEEP is a government initiative established in 2015 by the Federal Government of Nigeria (FGN) to accelerate economic growth in the country. It has helped many Nigerians grow their businesses. However, GEEP 2.0 loan is aimed to fund Micro, Small and Medium scale businesses in Nigeria which are the foundation of the country’s economy. Every Nigerian is eligible to apply for this loan provided they meet the requirements.
Requirements For GEEP loan
Below are the requirements to apply for GEEP loan:
- Applicants must be a Nigerian by birth,
- Must have an existing business in Nigeria (small scale business),
- Applicants must be ready to pay back the loan,
- National identify card or Voters’ card.
Note: Educational qualifications is not required.
Categories of GEEP loan
Below are the four(4) categories of GEEP loan;
1) TraderMoni: This is for Micro, Small and Medium scale business owners that need money to expand their business. Example: Small kiosk owner, fruit seller, tailor, etc.
2) MarketMoni: for all market people that need interest-free loans to expand their businesses. Note: Businesses that registered with Cooperate Affairs Commission (CAC).
4) Npower Loan: This is for outgoing Npower Beneficiaries (Batch A and B) to help them start a business of their own.
How to Apply for GEEP 2.0 loan
- To apply for GEEP loan under trader money, market money or farmer money, visit https://www.tradermoni.com.ng
Note: GEEP loan is interest-free loan ranging from N10,000 to N300,000. You can borrow up to N300,000 in a graduating scale of N10,000 N20,000, N50,000, N100,000, and N300,000.
When you take a loan of N10,000 and pay back, you will be eligible to ask for N20,000 loan. If you borrow N20,000 and pay back, you will qualify for N30,000 till you reach the maximum amount (N300,000).