TraderMoni Loan Repayment concerns pretty traders who were given Trader Moni Loan. Trader Moni Loan Repayment works easily for those who collected loan and want to pay back.
Understand what TraderMoni is
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. When you pay back the first loan, you immediately qualify for a second loan of N15,000. After payback of the second loan, you qualify for a N20,000 loan, and then N50,000, and then N100,000. 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.
Who can apply?
If you are a petty trader or artisan in Nigeria, and N10,000 can help your business today, then you are eligible for TraderMoni! For example, if you are a small kiosk owner, food stuff seller, bread seller, mai shai, wheel barrow pusher, mobile tailor, mobile cobbler, fruits seller, keke rider, etc, TraderMoni is here to help your business to get to the next level.
What is the least amount I can collect?
The money grows as you pay back! You can get up to N100,000. Once you use the N10,000 well and pay back, you get N15,000, and then N20,000, and then N50,000, and then N100,000. Getting the next loan is automatic! As soon as you pay back any loan within 3 months, you dial a code on your phone and you the next higher loan immediately.
Which states are the beneficiaries?
the Federal Government targets to disburse 2 million TraderMoni loans across all 36 states and the FCT. Each state will receive a minimum of 30,000 loans.The loan is only being administered by BOI, being a bank with the structures and processes to reach out applicants.
TraderMoni Loan Repayment/Pay back
By the end of 2018, the Federal Government targets to disburse 2 million TraderMoni loans across all 36 states and the FCT. Each state will receive a minimum of 30,000 loans.The loan is only being administered by BOI, being a bank with the structures and processes to reach out applicants. Get more details via www.tradermoni.ng
TraderMoni Loan Repayment can be done when you exceeded the six month grace period. You can pay back through BOI or any enumerator agents nearest to you or meet any TraderMoni Loan agent for directive on how to pay back.