FG MarketMoni Loan | Requirements | How It Works – marketmoni.com.ng

MarketMoni Loan is from the Federal Government of Nigeria to help with your trade or small business. The FG MarketMoni provide loans to market women and traders, artisans, enterprising youths and small scale farmers and Agric workers nationwide.

MarketMoni offer loan from 10,000 to 100,000.

5% administrative fee (No other charges)
6-month loan tenure
Two-week grace period
Daily Collections
FG MarketMoni Loan REQUIREMENTS:
You must belong to a registered and accredited market association, cooperative or trade group.
You must have a valid BVN.
Your market association, cooperative or trade group must nominate you for a loan and must be willing to stand in as your guarantor.
Your market association, cooperative or trade group must be registered with BOI.
You must have a business location which will be verified by MarketMoni agents.
MARKETMONI LOAN TERMS:
1. MarketMoni Loan Tenor is 6 Months.

2. Weekly repayment with a two week grace period.

3. Administrative Fee of 5% (No other charges).

LOAN PRODUCTS
HOW IT WORKS:
ASSOCIATION LEGAL REGISTRATION

Confirm from your association, cooperative or trade group leadership that they are registered at the State or National (CAC) level.

ASSOCIATION ACCREDITATION

Get your association, cooperative or trade group to register for BOI accreditation on www.boi.ng/marketreg.

ACCREDITATION VALIDATION

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.

BENEFICIARY REGISTRATION

BOI will engage with your association, cooperative or trade group to validate registration. MarketMoni agents will, thereafter, visit your group to register you for loan consideration

Note: Qualified registrants to MarketMoni will receive an electronic loan offer on your mobile device after which you receive loan disbursement in a matter of days!

Beneficiaries receive loans ranging from N10,000 to N100,000 per applicant for as long as 6 months. MarketMoni attracts no interest except a one-time 5% administrative fee. So far over 24,000 beneficiaries have accessed MarketMoni.

GEEP MarketMoni Loan Application Portal
Instructions (per co-operative):
Step 1: Download the MOU Template (one per co-operative).

Step 2: Download the Excel Sheet (one per co-operative) to provide your members’ details.

Step 3: Fill the MOU template and Excel sheet carefully with the right information.

Step 4: Come back to this page and submit your MOU and Excel sheet.

News culled from topgist ng