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How to Get Federal Government Loan for Small Businesses

The Federal Government of Nigeria is making serious efforts to alleviate the effects of Covid19 in the country. They have marked out several loan schemes for households and small businesses operating within the country. Here we will guide you on how to get federal goverment loans for small businesses. Before that you can fill the Covid19 loan support form.

Get Federal Government Loan for Business Startup => See Here!

To address the adverse impact of Covid19 on small businesses, the government of Nigeria rolled out two major loan support programs.

  • Guaranteed Off-take Stimulus Scheme (GoS)
  • The General MSME Grant

Here we will explains the above mentioned loan schemes and how to access them.

1. Guaranteed Off-take Stimulus Scheme (GoS)

This program was set up with the aim to provide protection to the medium and small enterprises. As the name suggests, the program is designed to ensure that medium and small enterprises are supported. Only 100,000 small and medium enterprises will benefit from this grant package.

States that will benefit from the grant include:

  • Lagos – 3,880
  • Kano – 3,280
  • Abia – 3,080
  • Other States (Each) – 2,640

Requirements to apply for Guaranteed Off-take Stimulus Scheme (GoS)

  1. Applicant must be a Nigerian.

  2. Must have business registered with the Cooperate Affairs Commission (CAC).

  3. Applicants must have Bank Verification Number (BVN) and a bank account.

  4. Applicant must have at least
    two employees.

  5. Applicants must arrange for production under NAFDAC and SON.

Also Read:  CBN Infrastructure Fund To Be Launched In October

To APPLY for this support, visit www.survivalfund.gov.ng

2. General MSME Grant

Under this program, each business owner will get up yo N50,000 to develop his or her business. However, only 100,000 people across the country will receive the grant.

Requirements to get General MSME support

  1. Applicants must be a Nigerian citizen.

  2. They must have business registered with the Cooperate Affairs Commission (CAC).

  3. Applicants must have a BVN and a bank account.

States that will benefit from the grant

  • Lagos – 3,880
  • Kano – 3,280
  • Abia – 3,080
  • Other States (Each) – 2,640

Have question? Go to the comment section below.

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14 Comments

14 Comments

  1. Igbawua Fabian

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    I have apply for the program since 2021, but no useful response has been done.meanwhile, I meet all the requirements.

  2. Benjamin

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    My name is benjamin iam in adamawa state i herd abort the loan but how can i get the loan for my small business selling patrol and gas then my school fees we love you all.

  3. Musa ibrahim

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    I want a loan for my business

  4. Henry hamman

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    Hello please I am also need this loan to help my business, and pay for school fees. I am be very happy if I can get this loan.

  5. SAMAILA A GARBA

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    I will be glad if I’m going to empower thanks

  6. Shittu Nafisat Mojisola

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    Pls I want loan for my Daipers business.

    • Shittu Nafisat mojisola

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      If I do not have CAC . What about such people

  7. Alex Onuoha

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    I need loan
    How will I have loan?

  8. Jibrin b lawan

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    Dir sir I field npower an forgotten my email adres

  9. Adejare sakiru

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    I want a loan for my little business

    • Saleh

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      I want a loan for my business

  10. Nwagbo Regina

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    Please I want loan to start my business

  11. Hadiza Mohammed

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    I want a loan for my business

  12. Ogbonna blessing

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    Pls have not registered with CAC I only register with SMENs

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