TraderMoni Loan Application 2021/2022: This article will guide you on how to register and submit an application for the TraderMoni Interest-Free Loan, one of the Federal Government of Nigeria Loan Scheme under the Government Enterprise Empowerment Programme, GEEP 2.0.
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What is TraderMoni.
TraderMoni is a loan programme of the Federal Government of Nigeria, formed specifically for petty traders and artisans across Nigeria. It is a part of the Government Enterprise and Empowerment Programme (GEEP) scheme of the Federal Government, being executed by the Bank of Industry (BOI).
With TraderMoni, you can receive interest-free loans starting from N10,000 and increasing up to N100,000 as you pay back. You get N10,000 as the first loan when you pay back the first loan, you immediately qualify for a second loan of N15,000.
After payback of the second loan, you qualify for an N20,000 loan, then N50,000, and then N100,000. All loans have payback duration of six months
With TraderMoni, the Federal Government aims at changing your level by providing continuous loans for your petty business, making each loan bigger to enable your business to grow.
TraderMoni Loan Application Requirements
- You must be a Nigerian citizen
- 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 registered with the service providers
How to Apply for TraderMoni Loan
The TraderMoni loan application portal has been created for the convenience of BOI’s prospective SME customers, in the sense that they do not initially have to come physically to the Bank to submit their loan applications.
It also has the advantage of shortening the loan processing Turn-Around-Time (TAT) of the Bank. The portal has document uploading capability as well as allows the loan applicant to select the preferred BOI State Office location where the application will be processed.
To access the TraderMoni Loan website, follow the instruction below:
- Go to www.boi.ng. (application link not available for now)
- Click on “Apply for loan now”.
- Click on “Register here” to register your account.
- A verification link and tracking code will be sent to your registered email address; kindly login to your email and click on the verification link to verify and facilitate login.
- Once you’re logged in, kindly complete the application form, save and click on “continue” to submit the form.
- A confirmatory mail will be sent to your email address.
TraderMoni Loan Application Important Notice
- The first amount to receive will be the sum of N10,000. Once you are able to repay it, you will be granted access to receive N15,000 in your next application, etc.
- Do wait for the turn of your state and find out more from your market cooperative unions, or visit the Bank of industry website.
- The loans are repayable over a period of six months.
If you have further questions on the TraderMoni Loan Application Process, then leave us a comment below and we will address them immediately.