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www.boi.ng – Trader Moni Registration Portal and How to Apply FG Business Loan

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www.boi.ng – TraderMoni Registration Portal and How to Apply FG Business Loan.

How to apply for Tradermoni loan scheme: This post is a detail step on how to apply for the recently launch federal government loan scheme tagged “TraderMoni”.  TraderMoni is designed to help petty traders expand their trade through the provision of collateral free loans of N10,000. Please read the details outline below to know if you are qualified to partake in the scheme.

www.boi.ngTraderMoni Registration Portal and How to Apply FG Business Loan

 

The TraderMoni was launched last Tuesday in five markets in Lagos State with tens of thousands of beneficiaries already. Trader Moni was launched in partnership with the Bank of Industry in order to enlarge government’s “financial inclusion agenda down to the grassroots, the bottom of the ladder, considering the contribution of petty traders to economic development.

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In order to identify the beneficiaries, no fewer than 4000 enumeration agents have been engaged by the Bank of Industry which is deploying the new scheme. The loans are repayable within 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.

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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.

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Requirements for the Tradermoni loan scheme

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To be eligible and be a bonafide beneficiary of the TraderMoni scheme, you must possess the following;

  • You must be a Nigerian
  • You must be 18 years and above
  • You must be a business owner or a trader
  • You must belong to a market cooperative union in your location
  • You must have a valid identification
  • You must have a valid BVN
  • You must have a valid SIM/phone number that is register with the service providers

Steps to apply FG Business Loan on www.boi.ng TraderMoni Registration Portal

The scheme called “TraderMoni” launched under the Government Enterprise and Empowerment Programme (GEEP) was designed to help petty traders expand their trade with a collateral-free loan of at least N10,000 which would be repayable within a six-month period.

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To apply, a enumeration agent will visit your cooperative unions and access either you or your application form submitted with your cooperative. When all documents have been checked and ascertained, you will be notified via text message.

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The first amount to receive will be the sum of N10,000. Once this can be repaid, you will be granted access to receive N15,000 in your next application, etc.

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The TraderMoni was launched last Tuesday in five markets in Lagos State with tens of thousands of beneficiaries already. According to reports, the Lagos markets already reached are Mushin, Ikotun, Agege, Ketu, and Abule Egba markets. Abia and Kano states have been listed as next in line. So wait for the turn of your state and find out more from your market cooperative unions or visit the Bank of industry website at https://www.boi.ng/

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