GEEP Loan – How To Apply For Farmermoni (N250,000): The Federal Government Enterprise Empowerment Program (GEEP) is in progress, the Loan program is aimed at giving soft loans to businesses that are unable to fund themselves, thus providing financial assistance to struggling business.
With the introduction of the GEEP loan, the government aims to further bridge the gap and make small and medium businesses viable.
One of the components of the GEEP loan program is the Farmermoni, this loan targets smallholder farmers in the agriculture sector. If provides invention and money to farmers.
Small farm holders or subsistence farmers are the main targets for the loan, framers under this category are expected to apply for this loan and grow their products, provide raw materials for local industries.
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In line with FG agenda for food security, small framers will be given N250,000 under the Farmermoni GEEP loan 2.0
This product is a 6-9 months interest-free loan, starting from N250, 000 ($694) for farmers within farming clusters.
The loan is tailored to suit the peculiarities of the different planting seasons and farming requirements.
This product also includes a guaranteed off-taker who commits to purchasing the farming producer from beneficiaries of this loan for the purpose of local food production.
Loan VERIFICATION
Every successful data submission is categorized into batches of 10-20.
Our fully manned call center goes through the process of calling a randomized batch of beneficiaries to verify the submitted information.
Once verified, potential beneficiaries are ready for disbursement into their mobile wallets.
Verified beneficiaries receive a text message on their phone, asking them to respond to a loan offer.
Once they accept, their mobile wallet is funded with the loan amount.
The beneficiaries can choose to transfer the money to their bank account or receive cash via an agent in their market.
See Also: Nirsal SME Loan for Traders & Micro, Small and Medium Enterprises (MSMEs) – Apply Here
Every beneficiary has a 2 weeks moratorium period before they begin to repay their loan. Loan repayments range from a minimum of 3 months to a maximum of 6 months.
Beneficiaries can repay at any bank or by using voucher cards. Once a beneficiary fully repays, they automatically qualify for a higher loan amount
How to Apply for FG GEEP-Loan
Interested and qualified Nigerians who wants to apply for GEEP Loan are advised to:
- Visit https://startcredits.com/login
- Fill in your details
- Cross-check your details
- Submit
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