MarketMoni is a Government Enterprise and Empowerment Programme (GEEP) created in order to boost the Nigerian economy.
The MarketMoni loan was created to help artisans, enterprising youths, traders, especially women through offering them collateral-free loans of N50,000 and above. Guess What? It’s a zero per cent (0%) interest rate on any MarketMoni loan you take, except for a five per cent (5%) one-time administrative fee.
The loans will be repaid over a period of six months, and you can access higher loans of up a hundred thousand Naira (N100,000) when you pay back the first loan.
The BOI (Bank of Industry) management software is in charge of validating the loan application. Then, the loan is released to you within 48 hours to a mobile wallet account, which can then be cashed out.
You can grow or start your own business with the help of these loans and free business aids and support. This is the best loan for individuals searching for funds to start or grow their business.
Requirements for Accessing Market Moni
Below are the requirements that you must meet before you can access these loans:
- You must be a Citizen of Nigeria.
- Official Government Identification.
- Notarized Guarantor Forms.
- Passport photographs.
- Training Certificate.
- Collateral free
- Low-interest rate
- Fast Disbursement within 48 hours.
- Low Loan amount.
- Numerous documentation required.
ONGOING GOVERNMENT GRANTS & LOANS:
- How to Apply For FG Survival Fund.
- Click Here To Apply For GEEP Loan.
- How To Apply For Nigeria Youth Investment Fund.
- How to Apply For Federal Government Intervention Fund.
HOW TO APPLY FOR THE MARKETMONI LOAN?
If you want to register for the GEEP Market Moni free loan then follow the steps below to successfully apply for the loan:
- You Must be a Nigerian.
- You must have a BVN.
- Thirdly, you need to belong to an accredited market association or cooperative registered in your State or with the CAC. (Not Compulsory)
- Your association or cooperative will show its interest in MarketMoni by submitting its information to BOI which must include its certificate of registration. (Not Compulsory)
- Visit www.boi.ng/marketreg.
- Call 0700-CALL- BOI (which is 0700-225- 5264)
- Or visit any BOI office around your residence for immediate application or,
- visit an NSIP assigned State Focal Person to register your cooperative’s interest in MarketMoni.
5. If your association or cooperative qualifies, a MarketMoni agent would be sent to your group promptly to verify and capture your member information for loan assessment.
NOTE: The method above is ONLY for those who have a company or a business registered by the CAC. Individuals and Small businesses don’t need to go through those stress. Small businesses or individuals should just visit any BOI office around for immediate application or they can call the BOI number above for more inquiry.