www.marketmoni.com.ng: FG MarketMoni (GEEP) Free Interest Loan 2017-2018 programme Apply Here
The MarketMoni loan is for everyone especially you being a youth. You can now apply for this MarketMoni loan as its said objectives is to assist small and medium enterprise –SMEs with easy and quick loans at no interest rate besides a five percent administrative fee.
FG MarketMoni (GEEP) Free Interest Loan
The MarketMoni loan application of the Federal Government is in collaboration with the bank of industry. The loan disbursement will be interest free and will be given to traders, artisans, enterprising youths and farmers in the country. The programme is real and transparent if only you apply for it now.
The ‘no interest’ loan scheme is accessible to beneficiaries through their accredited market associations and cooperatives. Upon confirmed membership of these associations, provision of bank verification Number (BVNs) and assignment of a MarketMoni agent. Loans ranges fromN10,000 to N00,000 repayable over 6 months, with a onetime 5% administrative fee to cushion cost.
How does the MarketMoni loan application scheme works
I know many applicants will be confused about this whole thing but I will recommend you check online here to see that the whole process is real and can be done through a semi rigorous way. Over 24,000 beneficiaries have accessed the MarketMoni loan here in the country.
The loan application 6 months repayment tenure eases the burden on the beneficiaries. The entrepreneur is better able to focus their energies on growing their business rather than meeting aggressive targets. The loan also comes with a 2 week moratorium prior to the commencement of weekly repayments starting on the third week of the life of the loan. For instance, a N20, 000 loan beneficiary would pay back N875 weekly.
TERMS AND CONDITION OF THE MARKETMONI LOAN SCHEME
Before applying for the MarketMoni loan, you need to know the terms and conditions involve. So of these conditions has been outline here below;
All loan tenure is for 6 months duration
Weekly repayment with a two weeks grace period
Administrative fee charge of 5%
You must be a Nigerian and resides within the country.
What you need to have before applying for the MarketMoni loan
There are certain items you need to have before submitting online application for the Market Moni loan. You must have it in mind that the loan is for 6 months and repayable within the stipulated period. The items required of you include the following;
You must have a valid BVN
You must belong to a market association or cooperative
You must have a business location which will be verified by MarketMoni agents.
You market association/cooperatives must be register with the Bank of industry.
See Also: gg
How to Apply for the MarketMoni Loan Application 2017-2018
Applying for the MarketMoni loan application takes a lot of process but know it is done online. Before applying for the loan, please note that having a valid BVN number from a recognized bank in the country is vital as you need to following the following steps outline below;
Download the memorandum of understanding (MOU) template (one per co-operative)
Download the Excel sheet (one per co-operative) to provide your membership details
Fill the MOU template and excel sheet carefully with the right information
Come back to the page and submit your MOU and Excel sheet.
You Will Be notified by your market associations or co-operative if your loan application was receive and accepted.