MarketMoni Loan Application Portal 2020/2021 | marketmoni.com.ng: This article will guide you and give you vital information about MarketMoni Loan, how to apply for MarketMoni Loan, requirements and many more interesting related solutions.
MarketMoni is a program unprecedented in Nigeria’s recent history, granting interest-free credit facilities to existing microenterprises of market women and traders, artisans, enterprising youth and agricultural workers.
The scheme of the National Social Investment Office is an initiative targeted at expanding the scope and scale of economic opportunity for the financially vulnerable. The Federal Government is executing MarketMoni through the Bank of Industry (BOI), a parastatal of the Federal Ministry of Industry, Trade and Investment.
MarketMoni Loan of Federal Government – How its Works
Majority of the applicant will be confused about these social intervention programs of the Federal Government and will be asked is this real or fake but i strongly assured you is real many beneficiaries have testified.
However, Lucky applicant receives loans ranging from N10,000 to N100,000 per applicant for as long as 6 months. The loan attracts no interest except a one-time 5% administrative fee that’s all.
Can you believe over 24,000 beneficiaries have accessed MarketMoni?
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The MarketMoni Loan of Federal Government has been exiting in thirteen (13) states in Nigeria, the states include Ondo, Osun, Oyo, Abuja, Adamawa, Akwa Ibom, Delta, Ekiti, Kogi, Kwara, Niger, Lagos and Ogun.
Recently the MarketMoni Loan of Federal Government has been extended to plateau, Jigawa and Kebbi.
MarketMoni Terms and Conditions involves
Before applying for the loan you need to know terms that is involved, see below MarketMoni Terms and Conditions
- Loan Tenor: 6 Months
- Weekly repayment with a two week grace period
- Administrative Fee of 5% (No other charges)
Requirements for MarketMoni Loan
- You must have a valid BVN
- You must belong to a registered and accredited market association, cooperative or trade group
- Your market association, cooperative or trade group must nominate you for a loan and must be willing to stand in as your guarantor
- Your market association, cooperative or trade group must be registered with BOI
- You must have a business location which will be verified by MarketMoni agents
How to Apply for MarketMoni Loan of Federal Government
Before applying for the loan you must have a valid BVN number from a recognized bank in Nigeria then follow the steps below to apply
- Apply via https://apply.marketmoni.com.ng/
- Download the MOU Template (one per co-operative)
- Download the Excel Sheet (one per co-operative) to provide your members’ details
- Fill the MOU template and Excel sheet carefully with the right information
- Come back to this page and submit your MOU and Excel sheet
To access a MarketMoni loan:
1. First, you must have a BVN
2. Next, you must belong to an accredited market association or cooperative registered in your State or with the CAC.
3. Third, your association or cooperative must indicate its interest in MarketMoni by submitting its information to BOI including its certificate of registration. You may contact us through the following platforms:
- visit www.boi.ng/marketreg
- Call 0700-CALL- BOI (which is 0700-225- 5264)
- visit any BOI office in the country, or
- visit a NSIP assigned State Focal Person to register your cooperative’s interest in MarketMoni.