Description
TraderMoni
TraderMoni is a Government Enterprise and Empowerment Programme (GEEP) Initiative created to boost the Nigerian economy through leverage and access to finance for petty traders.
TraderMoni is designed to help petty traders expand their trade through the provision of collateral free loans of N10,000. The loans are repayable over a period of six months.
Under the scheme, beneficiaries can get access to a higher facility ranging from N15,000 to N50,000 when they repay N10,000 within the stipulated time period.
The Bank of Industry management software validates the loan application. The loan is paid within 48 hours to a mobile wallet account, that can then be cashed out.
Start or grow your own business with the help of a government-backed Loan and free business support. A great alternative for individuals looking for business loans to fund their business.
PROS
- Low interest rate
- Collateral free
- Fast Disbursement within 48 hours
CONS
- Low Loan amount
- Numerous documentation required
ELIGIBILITY CRITERIA
- Official Government Identification
- Notarized Guarantor Forms
- Passport photographs
- Training Certificate
