How to Get FG Loans for Small Businesses

The government of Nigeria is seriously making efforts to alleviate the effects of Covid-19 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.

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.

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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.

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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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Updated: March 6, 2021 — 11:39 am

11 Comments

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  1. 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.

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

  3. Shittu Nafisat Mojisola

    Pls I want loan for my Daipers business.

    1. Shittu Nafisat mojisola

      If I do not have CAC . What about such people

  4. I need loan
    How will I have loan?

  5. Dir sir I field npower an forgotten my email adres

  6. I want a loan for my little business

    1. I want a loan for my business

  7. Please I want loan to start my business

  8. I want a loan for my business

  9. Pls have not registered with CAC I only register with SMENs

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