MarketMoni Loan of Federal Government is a free interest loan from Federal Government of Nigeria in collaboration with Bank of Industry. The Federal Government of Nigeria through MarketMoni Loan begins disbursement of interest free loan to traders, artisans, enterprising youths and Farmers in Nigeria. Here I will list out simple steps interested Nigerians can apply for MarketMoni Loan of Federal Government of Nigeria successfully. Is real apply now!
The purpose of the disbursement of interest free loan to Nigerians is to assist and provide loan to traders, market women, artisans, enterprising youth and small scale farmers and agric workers nationwide. Terms and condition apply also.
MarketMoni Loan is among social intervention programs of the Federal Government under Government Enterprise and Empowerment Program (GEEP), of which targets is to issues interest-free loans to market women and traders, artisans, youth and farmers.
How does MarketMoni Loan of Federal Government works
Many applicant will be confuse about these social intervention programs of the Federal Government and will be ask is this real or fake but I strongly assured you is real many beneficiaries has testified.
Beneficiaries receive loans ranging from N10,000 to N100,000 per applicant for as long as 6 months. The loan attracts no interest except a one-time 5% administrative fee that’s all.
Can you believe over 24,000 beneficiaries have accessed MarketMoni.
The MarketMoni Loan of Federal Government has been exiting in thirteen (13) states in Nigeria, the states include: Ondo, Osun, Oyo, Abuja, Adamawa, Akwa Ibom, Delta, Ekiti, Kogi, Kwara, Niger, Lagos and Ogun.
Recently the MarketMoni Loan of Federal Government has being extended to plateau, Jigawa and Kebbi.
MarketMoni Terms and Conditions involves
Before applying for the loan you need to know terms that is involves, see below MarketMoni Terms and Conditions
- Loan Tenor: 6 Months
- Weekly repayment with a two week grace period
- Administrative Fee of 5% (No other charges)
Requirements for MarketMoni Loan
- You must have a valid BVN
- You must belong to a registered and accredited market association, cooperative or trade group
- Your market association, cooperative or trade group must nominate you for a loan and must be willing to stand in as your guarantor
- Your market association, cooperative or trade group must be registered with BOI
- You must have a business location which will be verified by MarketMoni agents
How to apply for MarketMoni Loan of Federal Government
Before applying for the loan you must have a valid BVN number from a recognized bank in Nigeria then follow the steps below to apply
- Apply via http://apply.marketmoni.com.ng/
- Download the MOU Template (one per co-operative)
- Download the Excel Sheet (one per co-operative) to provide your members’ details
- Fill the MOU template and Excel sheet carefully with the right information
- Come back to this page and submit your MOU and Excel sheet
Wish you the best!