Government Enterprise and Empowerment Programme – GEEP Loan 2020/2023 through Bank of Industry Federal Government Application Form; see how to register here.
This will update you on Federal Government Enterprise and Empowerment Programme (GEEP) for 2020/2023. Download Registration form here.
At the end of this article about Federal GEEP Bank of Industry Loan, you will know the requirements involves to get loans through Federal Government Enterprise and Empowerment Programme (GEEP)
2020 Appropriation Bill signed into law by the President, N10 billion was allocated to BOI as ‘Grants to BOI to support low interest loan to SMEs’.
Brief about Geep Loan Registration
The GEEP Loans to Beneficiaries under the Trader Moni guidelines is N10,000. Upon payment of the first loan, the individual qualifies for a higher amount. The maximum amount allowed is N100,000.
At the first stage, N10, 000 can be collected without Biometric Verification Number (BVN) or bank account; the borrower must have a BVN and a bank account for the next set of loans.
Geep Loan Comprises of Trader moni loan, Market mini loan, Farmer mini loan
Main Objectives of Federal GEEP Loan Bank of Industry
To provide access to credit up to 1.6 Million Nigerians MSMEs’ and Youths, GEEP Loans funds will be disbursed through BOI(Bank Of Industry) a financial institution saddled with the responsibility of managing the funds for on-lending.
Read about – Npower GEEP Loan
Government Enterprise and Empowerment Programme was established by the FG to create financial empowerment for Co-operative societies, traders and Artisans within the country.
Criteria for GEEP Loan by Bank of Industry
- Confirm from your association, cooperative or trade group leadership that they are registered at the State or National (CAC) level.
- Get your association, cooperative or trade group to register for BOI accreditation on boi.ng/marketreg.
- Your association, cooperative or trade group should send an email to BOI at GEEP-States@boi.ng to confirm the completion of steps 1 and 2 above and include a copy of the group’s State/National registration certificate.
- BOI will engage with your association, cooperative or trade group to validate registration. MarketMoni, Tradermoni or Farmermoni agents will, thereafter, visit your group to register you for loan consideration.
Qualifications/Requirements for GEEP Loan
- Must be a member of an accredited market association
- Association executive must give consent and indicate maximum loan amount
- Must have BVN linked to account to be disbursed to
- Must be either a trader or artisan
- Must be Nigerian
Check also – National Youth Investment Fund Loan 2020/2023