The Federal Government has promised to offer an interest-free loan of up to N300,000 to N-power beneficiaries through GEEP initiative. In this post, we will show you how to apply for Npower GEEP loan in 2020.
This loan is for the outgoing N-power Batch A and B beneficiary. However, if you are not a Npower beneficiary, you can check our previous article on how to apply for GEEP loan open to everybody.
GEEP means Government Enterprise and Empowerment Program. It is a Federal Govt initiative to fund Micro, Small and Medium scale businesses in Nigeria.
What is Npower GEEP loan?
N-power GEEP loan is a free-interest loan given to outgoing N-power beneficiaries to enable them to start up a business or fund existing businesses. The N-power GEEP loan will help the outgoing Batch A and B N-power beneficiaries to start up Micro, Small or Medium scale business.
According to Minister of Finance, Zainab Ahmed, N-Power beneficiaries will get GEEP Loan so they won’t go back to the street. So, GEEP loan will serve as their exit package.
To get GEEP loan through N-power, a beneficiary ought to pass a psychometric test. See N-power psychometric test past questions and answers.
Requirements to access GEEP loan
- Applicants must have Bank Verification Number (BVN). If you have forgotten your BVN, see USSD code to check your BVN using any mobile phone.
Must have a registered business with Cooperate Affairs Commission (CAC).
Applicant must belong to an accredited market association
Association must show interest in marketmoni by submitting its information to BOI which should include Certificate of registration.
If your association is eligible for marketmoni, an agent will be sent to your group to capture your membership information for assessment.
Requirements for N-power GEEP loan
Government is likely to make it easier for N-power beneficiaries, so below are Npower requirements for GEEP loan;
- Bank Verification Number (BVN)
National Identity Number (NIN). See how to check your NIN using a mobile phone.
Psychometric test. Npower beneficiaries are to undergo psychometric test before the loan will be given to them.
How to apply for Npower GEEP loan
To get started, visit npvn.npower.gov.ng
Select program if your choice
Wait for further instructions from support team