IYALOJA Fund 2023, iyaloja/geep loan, IYALOJA Loan Application Form Portal, iyaloja/geep loan scheme – The Federal Government of Nigeria (FG) launches a new loan scheme for petty traders, known as the IYALOJA/GEEP Loan Scheme
Benefits of the IYALOJA/GEEP Loan Scheme
- Access to finance: The scheme provides petty traders with access to finance, which can be used to purchase inventory, expand their businesses, or hire additional staff.
- Financial inclusion: The scheme helps to promote financial inclusion by encouraging petty traders to open bank accounts and use formal financial services.
- Economic empowerment: The scheme helps to economically empower petty traders by providing them with the resources they need to grow their businesses and create jobs.
How to Apply for the IYALOJA/GEEP Loan Scheme
The application process for the IYALOJA/GEEP Loan Scheme is simple and straightforward. Petty traders can register for the scheme by visiting their local market and meeting with a Nassco enumerator.
The enumerator will capture the trader’s information and open a savings account for them. Once the trader’s registration is complete, they will receive the N50,000 loan directly into their savings account.
How to Apply for the IYALOJA/GEEP Loan Scheme
The application process for the IYALOJA/GEEP Loan Scheme is simple and straightforward. Petty traders can register for the scheme by visiting their local market and meeting with a Nassco enumerator.
The enumerator will capture the trader’s information and open a savings account for them. Once the trader’s registration is complete, they will receive the N50,000 loan directly into their savings account.CLICK HERE
Eligibility Requirements for the IYALOJA/GEEP Loan Scheme
- Be a Nigerian citizen
- Be a petty trader with a business in one of the selected markets
- Be at least 18 years old
- Have a valid bank account
Additional Information
- Here is some additional information about the IYALOJA/GEEP Loan Scheme:
- The scheme is open to all petty traders, regardless of their gender, religion, or ethnicity.
- The loan is repayable over a period of 12 months.
- Petty traders are not required to provide any collateral to obtain the loan.
- The scheme is administered by the National Social Safety Nets Coordinating Office (NASSCO).
FAQs IYALOJA/GEEP Loan?
How long do you have to pay back the loan?
This loan is a special program by the Nigerian government that helps small traders. You get two weeks before you need to start paying it back. Then, you have between three to six months to pay off the loan completely. You can make payments at any bank or with special cards. If you pay back the whole loan, you can borrow more money next time.
How much can you borrow with the IYALOJA/GEEP Loan
For the IYALOJA/GEEP Loan by the Nigerian government, you can get up to N50,000 without interest. The program is set to start in November 2023 and aims to reach 1.5 million people. To apply, you must sign up with Nassco at designated markets and have a savings account for the loan money. Remember, this is just information, not financial advice. It’s best to talk to a professional before making any financial choices.
