Trader Moni interest free Loan, here I will show you how to apply/repay or pay back TraderMoni. Note that when you payback you will be entitled to another LOAN of N15,000, and then N20,000, and then N50,000. Get details here.
Trader Moni, a product under the Government Enterprise and Empowerment Programme (GEEP), a microcredit social intervention programme of the Federal Government of Nigeria;
A good reason for the scheme’s wide acceptance includes its repayment period – beneficiaries have six months to pay back their loans – and the opportunity to grow and get access to higher value loans.
TraderMoni is a loan programme of the Federal Government, created specifically for petty traders and artisans across Nigeria. It is a part of the Government Enterprise and Empowerment Programme (GEEP) scheme of the Federal Government, being executed by the Bank of Industry.
With TraderMoni, you can receive interest-free loans starting from N10,000 and growing all the way to N100,000 as you pay back. You get N10,000 as the first loan. With TraderMoni, the Federal Government wants to change your level by providing continuous loans for your petty business, making each loan bigger to enable you to grow.
Steps for Trader Moni Loan and attached interest
- Steps 1, you will be given ₦10,000. When you pay back ₦10,250 before or within 6 months, government will give you ₦15,000 loan.
- Steps 2 when you collect ₦15,000, and you pay back ₦15,375 before or within 6 months, government will give you ₦20,000 loan.
- Steps 3 when you collect ₦20,000, and pay back ₦21,000 before or within 6 months, government will give you ₦50,000 loan.
- Steps 4 when you collect ₦50,000, and payback ₦52,500 before 6 months, then government will give you a gigantic amount of ₦100,000 loan that you will as well pay back for 6 months.
How to apply for TraderMoni 2019/2020
Get Trader Moni interest free Loan HERE
How to repay or pay back TraderMoni
When you pay back the first loan, you immediately qualify for a second loan of N15,000. To repay or pay back TraderMoni across the states, make use of the following banks as listed below:
- GT Bank
- Union bank
- Eco Bank
- Fidelity bank
- Wema bank
- Heritage Bank
- Jaiz bank
- Stanbic Bank
- Sterling Bank