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4 Ongoing Federal Government Loan And Grants You Should Apply Before The End Of This Month

4 Ongoing Federal Government Loan And Grants You Should Apply Before The End Of This Month

4 Ongoing Federal Government Loan And Grants You Should Apply Before The End Of This Month

The Federal Government of Nigeria has intensified efforts to revitalise the economy through Intervention Loan Programmes geared towards post COVID-19 full Economic Recovery and reducing the impact of the COVID-19 Pandemic on the income of Small and Medium Enterprise owners in the country.

Loan Programmes targeting the Youths and general MSMEs have been initiated by the Government in which thousands of beneficiaries have emerged in some such as the COVID-19 Targetted Credit Facility Loan, the AGSMEIS Loan, the Non Interest Window for COVID-19 TCF and AGSMEIS, the Anchor Borowers Programme, and the Nigeria Youth Investment Fund.

Some Loan Programmes have been recently initiated by the Federal Government while application for some of the existing Loan Programmes has also continued.


1. TIES Loan Programme

The Tertiary Institution Entrepreneurship Scheme (TIES Loan Programme) is basically for Nigerian Graduates and Undergraduate in any acredited University or Polytechnic in Nigeria.

Graduates not more than 7 years of graduation are eligible to apply for up to N25 Million in the Loan Programme.

https://cbnties.com.ng/register


2: Nigeria Youth Investment Fund

Application for the Nigeria Youth Investment Fund recently continued and currently ongoing for interested and eligible youth participation.

The Nigeria Youth Investment Fund (NYIF) is a N75 Billion Loan Programme initiated  by the President Mohammadu Buhari led administration to invest in the innovative skills and enterprise of young Nigerians.

The loan has a single digit APR at 5% and a moratorium of 12 months before repayment. The Nigeria Youth Investment Fund was approved by Federal Executive Council in July 2020.

https://nyif.nmfb.com.ng/


3: AGSMEIS Loan

The Agri-Business/Small and Medium Enterprise Investment Scheme is an initiative of the Central Bank of Nigeria to support the Federal Government's efforts and policy measures for the promotion of agricultural businesses and small/medium enterprises (SMEs) as vehicles for sustainable economic development and employment generation.

In this scheme, an applicant can access up to N10million without Collateral at 5% interest per Annum till Feb, 2022 and 9% interest rate for other years, for up to 5 years. The Moratorium is usually 12 months.

AGSMEIS Loan is currently on going and accessible to Entrepreneurs in various industries ranging from Agriculture to Creative, Hospitality Industries etc.

https://agsmeisapp.nmfb.com.ng/


4. GEEP Loan

GEEP 2.0, a continuation of the Federal Government Enterprise and Empowerment Loan Programme under the Natioanl Social Investment Programme (NSIP) is ongoing.

Recall that the Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development recently launched GEEP 2.0 while releasing an electronic Proceedure for the registration.


How to Register for GEEP 2.0 (2021 MarketMoni/FarmerMoni Registartion)

1. Dial *4255*21#

2. Set up 6 digit withdrawal pin

3. Enter your Trade Name, e.g. Abubakar and Sons Enterprise

4. Enter Type of Business/Trade e.g., Rice, Maize or cassava Processing, Tailoring, etc

 5.  Proceed to provide Answers to all the USSD code queries and Submit

When successful, a pop-up message will indicate that the Registration was success.

Kindly note that due to network glitches resulting from large number Nigerian trying to use the USSD code, error messages may occur at intervals. Applicants are advised to continue trying until it is successful.

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