GEEP Free Interest Loan 2023: Tips to know about Trader Moni, Market Moni and Farmer Moni Loans – This article is written to guide you on the things you need to know about GEEP Free Interest Loan (Trader Moni, Market Moni and Farmer Moni). This update is for all and sundry that wants to benefit from Federal Government Loan. SEE FULL DETAILS AND TIPS YOU WOULDN’T MISS BELOW

GEEP Free Interest Loan 2023: Tips to know about Trader Moni, Market Moni and Farmer Moni Loans

The Government Enterprise Empowerment Programme (GEEP) is one of the 5 NSIP Programmes. 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 3 loan products, so far, to support small to medium-sized businesses.

READ – FG GEEP Loan 2.0 Application 2023: See How to Apply

The programme’s current loan products are MarketMoni, TraderMoni, and FarmerMoni.

1. 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 businesses while offering them a comfortable repayment period.

READ – CLICK HERE TO APPLY FOR MARKET MONI LOAN 2023

2. 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.

READ – CLICK HERE TO APPLY FOR TRADER MONI LOAN 2023

3. 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.

READ – CLICK HERE TO APPLY FOR FARMER MONI LOAN 2023

GEEP loans are not given out at random. Instead, they are done through existing clusters and associations in various markets across the country. This helps in proper tracking of the loans and provision of easy repayment options for the beneficiaries. For more information about GEEP and how you can apply visit https://www.geep.ng or dial *45665#

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