Steps on How to pay back your Trader Moni Loan and get another one – Weekly Loan Repayment Schedule

Steps on How to pay back your Trader Moni, Farmer Moni and Market Moni Loan and get another one – Weekly Loan Repayment Schedule – It is required that all beneficiaries will repay their Trader Moni loan every week to enable them payback all they borrowed within 6 months and to pave way for collection of another bigger loan. This article will help you know the amount you will repay every week and when it will stop to avoid paying more than what you are supposed to pay. Also, designated banks where you can payback the loan are also enlisted below.

Remember, it is one thing to take a horse to the stream, it is another to force the horse to drink water. What are we saying? Getting the Trader Moni Loan is not the issue but repaying as at when due is the matter.

You cannot run away as your BVN is there, therefore repay back the Trader Moni Loan using the Weekly Loan Repayment Schedule Plan below.

The Main Target of TraderMoni

TraderMoni is targeted at 2 million Nigerians. TraderMoni is targeted at micro-retailers, for example, bread sellers, hawkers, okada riders, plantain sellers, garri sellers or those who are doing very small businesses and for whom a loan of N10,000 – and growing up to N50,000 – can be of benefit. These everyday hardworking Nigerians are eligible to benefit from the scheme to expand their micro businesses.

Is it the amount you were given by Trader Moni that you will payback

No, as there are little amount attached to each amount allocated to you

Objectives of Trader Moni

The aim is to ensure that traders running micro businesses, regardless of how micro, so long as you are trading, the Federal Government will support you by giving you a loan of N10,000 (growing up to N50,000) to expand your business to sustenance.

If you are yet to register for Trader Moni Loan, Click here to register

Trader Moni Loan Pattern

Beneficiaries access the loan in 2 minutes via their mobile phones. The trader who receives the grant of N10,000 is required to be payback N430 every week for 6 months (or sooner) to expand their business. Traders who payback will AUTOMATICALLY be entitled to another LOAN of N15,000, and then N20,000, and then N50,000.

Therefore, traders who pay diligently can get a loan up to N50,000 to expand their business, and this is automatic. The initiative will go a long way to help micro business become viable businesses while strengthening the economy which is the goal of the present Government of Nigeria.

How Trader Moni Loan Works and amount to repay back

First, you will be given ₦10,000. When you pay back ₦10,250 before or within 6 months, government will give you ₦15,000 loan.

When you collect ₦15,000, and you pay back ₦15,375 before or within 6 months, government will give you ₦20,000 loan.

When you collect ₦20,000, and pay back ₦21,000 before or within 6 months, government will give you ₦50,000 loan.

When you collect ₦50,000, and payback ₦52,500 before 6 months, then government will give you a gigantic amount of ₦100,000 loan that you will as well pay back for 6 months.

How you can pay back your Trader Moni Loan

When you are given a loan of ₦10,000 for instance, you will be repaying the ₦10,000 gradually in a smaller amount of ₦430 Every Week for 6 Months

Federal Government gives all beneficiaries of Trader Moni Loan 6 months to pay back the ₦10,000 or any other amount given to you. Anyway, you can complete the payment for 3 months, then collect another (₦15,000) loan.

WEEKLY LOAN REPAYMENT SCHEDULE

Here is a list of our loan repayment schedule.

Loan Amount Administrative Fee Amount to pay back	₦10,000.00 ₦250.00 ₦10,250.00	₦15,000.00 ₦375.00 ₦15,375.00	₦20,000.00 ₦1,000.00 ₦21,000.00	₦50,000.00 ₦2,500.00 ₦52,500.00
Week1	₦430.00	₦640.00	₦875.00	₦2,187.50
Week2	₦430.00	₦640.00	₦875.00	₦2,187.50
. . .	. . .	. . .	. . .	. . .
Week24	₦430.00	₦640.00	₦875.00	₦2,187.50

Where will I payback my Trader Moni Loan?

To back your Trader Moni Loan, locate any of the banks listed below and pay back;

• Eco Bank
• Fidelity bank
• GT Bank
• Heritage Bank
• Jaiz bank
• Stanbic Bank
• Sterling Bank
• UBA
• Union bank
• Wema bank

How can I request for another Trader Moni loan after repayment

To request for another loan;

• Meet or locate the Trader Moni agents for assistance
• You can as well apply again online
• Click here to access the portal to request for more loan

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