GEEP Loan How To Apply/Register – We are pleased to inform you that the GEEP application portal is now open. The programme’s current loan products are MarketMoni, TraderMoni and FarmerMoni.
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About GEEP
The Government Enterprise Empowerment Programme (GEEP) was launched in 2016 with the aim to offer interest and collateral free credit to the millions of Micro SMEs (MSMEs) operating at the bottom of the Nigerian economic pyramid. The program has leveraged on 3 loan products, so far, to support small to medium sized businesses.
Eligibility:
Every trader, artisan & farmer in Nigeria is eligible for a GEEP loan. GEEP loans are designed to provide credit to small businesses with a convenient repayment period of 6 months. Geep loan application is not done online, read on.
MARKETMONI
MarketMoni was the first loan product launched by GEEP. It is a 6-month interest-free loan, starting from N50,000 ($139) for small businesses under the auspices of their cooperative societies or market associations. This loan product has helped small business owners scale their business, while offering them a comfortable repayment period.
TRADERMONI
TraderMoni is the entry level loan product for GEEP. It is a 6 month interest-free loan, starting from N10,000 ($28) aimed at petty traders and artisans. This loan is targeted at the everyday market trader, who makes a living from what they sell on a daily basis and whose product inventory ranges from N2,000 – N5,000. This loan immediately provides them with a structured way to increase their inventory, while repaying the loan. Most beneficiaries of this loan product are first-time receivers of a loan from a formal financial lender.
Tradermoni Registration form – There is no registration form for Tradermoni loan
FarmerMoni
FarmerMoni is a loan product targeted at the smallholder farmers in the agriculture sector. This product is a 6-9 months interest-free loan, starting from N250,000 ($694) for farmers within farming clusters. The loan is tailored to suit the peculiarities of the different planting seasons and farming requirements. This product also includes a guaranteed off-taker who commits to purchasing the farming producer from beneficiaries of this loan for the purpose of local food production.
FarmerMoni Registration form – There is no application form for Farmer Moni loan
How GEEP Works
ENUMERATION
Verified beneficiaries receive a text message on their phone, asking them to respond to a loan offer. Once they accept, their mobile wallet is funded with the loan amount. The beneficiaries can choose to transfer the money to their bank account or receive cash via an agent in their market.
REPAYMENT
GEEP Loan How To Apply/Register:
For more information and how to apply click the link https://www.geep.ng/index.html
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