Oyo State Government Loan for Traders, Artisans and SME’s – Apply

Oyo State’s government has announced plans to lend N500 million to traders, craftsmen, and small business owners in the state. This effort is part of the Sustainable Actions for Economic Recovery program (SAfER) to reduce the impact of subsidy reduction.

The loan is designed with the dual purpose of stabilizing the livelihoods of the people and rejuvenating the local economy. What makes this initiative particularly appealing is that the loans being offered come with a single-digit interest rate and flexible repayment terms.

For those eager to seize this opportunity, the application process is straightforward. Interested small and micro-businesses can obtain the application form free of charge from designated Microfinance banks strategically located in each of the seven geo-political zones within Oyo State.

This forward-thinking initiative serves as a testament to the Oyo State Government’s commitment to the welfare of its people and the overall economic well-being of the state. The combination of accessible loans, favorable interest rates, and flexible repayment options is set to pave the way for economic recovery and growth among small enterprises in the state. By supporting these businesses, the government seeks to not only stabilize the local economy but also foster entrepreneurship and job creation, ultimately improving the quality of life for its residents.

How to apply for Oyo State Loan 2023/2024

Here are the designated Microfinance banks facilitating the loan scheme:

1. Full range Microfinance Bank, Old Zenith Bank Building, Iwo Road, Ibadan.
2. Isale Oyo Microfinance Bank, Oyo town.
3. Excel Microfinance Bank, Eruwa.
4. NUT Oke Bola Microfinance Bank, Oke Ado, Ibadan.
5. Caretakers MicroFinance Bank, Caretaker, Ogbomoso.
6. Kadupe Microfinance Bank, Shaki.
7. Ebedi Microfinance Bank, Iseyin.