Empowerment
How To Apply For GEEP 2.0 Loan In 2022 | Up to N300,000
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).
3) FarmerMoni: This is for farmers that want to fund their Agri-business such as crop production, animal production, aquaculture, processing, etc.
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
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To apply under N-power, visit https://www.npower.gov.ng to submit your application. You can also check out: How to apply for CBN business loan.
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).
Source: Nyscinfo.côm
James chukwu .O.
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David I. B.
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Npower beneficiaries are surpose to be given grant and not loan because they have used their time, energy, efforts, knowledge and skills to serve Nigeria in various sectors.
It does not make any sense asking them to collect loan after using them in different place of primary assignment for 2 and almost 4 years for batch A and B respectively. Why were they not given the loan ealier before the program or when they were 3/6 month on the program so that befpe the finished the program, they would have complete paying back the loan. Inadequate planning, poor organization, administrationfor and implementation of good programs or projects is one of the major reason why Niheria is still among the developing countries in almost 60 years of independent despite so many natural resources GOD endow Nigeeia. The government should remember that todays’ youths are the future of Nigeria tomorrow. The way and manner they are treated now determine how bright the future pf Nigeria will be. They should not be treated like alens or strangers in their own counyry, they are all citizen. They have aqual right to work every federal government establshments, they should not spare those vacany positions for only children and relatives of our leaders. Now that the federal government is asking the beneficiaries cp quit and collect loan of N300000, how have they been empowered and how would they also empower others out there? How would they fulfill the mandate of empowering 100 million Nigerian in the next 2 years plus that is left. My opinion is that the federal government should give tangible grant for entrepreneur or permanent job or offer them bigger long term interest free loan lke N5 million pr N3 million and not N300000 after they have been trained for 2 and almost 4years, so that they use it will be used start a viable businass and empower other unemploy youths all for the growth and development of this nation.
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