Post by Trade Coach on Sept 18, 2021 14:11:41 GMT 1
How To Apply For Nigerian FarmerMoni Loan In 2021 And Be Accepted
In this article we want to bring to the notice of our members once again how to access the FarmerMoni loan by the Federal Government of Nigeria (FGN) tailored specifically for farmers.
You are aware that our platform is tilted towards agricultural and export activities in Nigeria, therefore whenever any new thing comes up, we let our members know immediately.
I know that many people have been hearing about Marketmoni and others, but I don’t know if you have heard about FarmerMoni? However, in this article we will let you know all about it.
If you are a farmer how do you access the loan, and what are the things you need to know?
FarmerMoni is a Federal Government of Nigeria loan initiative under the Government Enterprise and Empowerment Programme (GEEP), aimed at funding farming related businesses across the entire 36 states of the Federation and Abuja.
This is a Federal Government Loan initiative and it is open to farmers in all the 36 states and the Federal Capital Territory (FCT), and you can easily apply online and submit your application online.
This loan, FarmerMoni, is repayable over a period of six (6) months. This loan scheme enables beneficiaries to access an amount up to N300,000 (three hundred thousand naira); the loan is a non-interest bearing loan and without collateral.
Requirements To Register For The FarmerMoni Loan In Nigeria:
Listed below are the requirements to enable you access the FarmerMoni Loan:
Applicant must be a Nigerian
You must be 18 years and above
Applicants must have bank verification numbers (BVN) and a savings account
You must be a member of any approved cooperative group. The group must be registered with Corporate Affairs Commission (CAC)
Applicants must have valid means of identification such as: National Identity Number (NIN)
How To Register/Apply For FarmerMoni Loan:
Follow the steps below to register for FarmerMoni Loan:
Visit the Bank of Industry (BOI) website here: www.boi.ng/apply
Click on: ‘Register’ and enter your information
A verification link will be sent to the email address you entered
Check your email inbox. (Check your spam folder in case you didn’t find it in the inbox). Then click on the verification link.
Then login to your account through the verification link and complete the application form.
If everything is successful, the loan will be disbursed to you within 48 hours to a mobile wallet account for you to cash out.
Please if you did not get any loan disbursed you have to be sure that you are not having an unpaid loan in any of your accounts.
Remember that in one of our articles on what can prevent you from accessing any of the numerous loan schemes by the Federal Government of Nigeria is having outstanding loan amounts on any of your accounts.
Before starting out to apply for the loan, take your time to see if you have any outstanding amount with any bank. The bank can be Microfinance Bank or any other type of financial institution registered in Nigeria.
Also check if at one time or the other whether you benefited from any loan scheme like; TraderMoni, MarketMoni, or NpowerMoni loans in the time past. If you have any amount whatsoever, no matter how small the amount is standing on the debit of your account; you cannot be granted further credits or loans until you clear the outstanding amount.
This is a great initiative for small scale farmers; you can use the loan to start a farming project that will mature before six months so as to pay the money back.
Remember that when you pay back, you can collect another one.
Stay with us for more information.
Don’t forget that we have a training institute for Agro-Exports. Contact the admin of this forum if you are interested in equipping yourself with first class training on agriculture and exports.
In this article we want to bring to the notice of our members once again how to access the FarmerMoni loan by the Federal Government of Nigeria (FGN) tailored specifically for farmers.
You are aware that our platform is tilted towards agricultural and export activities in Nigeria, therefore whenever any new thing comes up, we let our members know immediately.
I know that many people have been hearing about Marketmoni and others, but I don’t know if you have heard about FarmerMoni? However, in this article we will let you know all about it.
If you are a farmer how do you access the loan, and what are the things you need to know?
FarmerMoni is a Federal Government of Nigeria loan initiative under the Government Enterprise and Empowerment Programme (GEEP), aimed at funding farming related businesses across the entire 36 states of the Federation and Abuja.
This is a Federal Government Loan initiative and it is open to farmers in all the 36 states and the Federal Capital Territory (FCT), and you can easily apply online and submit your application online.
This loan, FarmerMoni, is repayable over a period of six (6) months. This loan scheme enables beneficiaries to access an amount up to N300,000 (three hundred thousand naira); the loan is a non-interest bearing loan and without collateral.
Requirements To Register For The FarmerMoni Loan In Nigeria:
Listed below are the requirements to enable you access the FarmerMoni Loan:
Applicant must be a Nigerian
You must be 18 years and above
Applicants must have bank verification numbers (BVN) and a savings account
You must be a member of any approved cooperative group. The group must be registered with Corporate Affairs Commission (CAC)
Applicants must have valid means of identification such as: National Identity Number (NIN)
How To Register/Apply For FarmerMoni Loan:
Follow the steps below to register for FarmerMoni Loan:
Visit the Bank of Industry (BOI) website here: www.boi.ng/apply
Click on: ‘Register’ and enter your information
A verification link will be sent to the email address you entered
Check your email inbox. (Check your spam folder in case you didn’t find it in the inbox). Then click on the verification link.
Then login to your account through the verification link and complete the application form.
If everything is successful, the loan will be disbursed to you within 48 hours to a mobile wallet account for you to cash out.
Please if you did not get any loan disbursed you have to be sure that you are not having an unpaid loan in any of your accounts.
Remember that in one of our articles on what can prevent you from accessing any of the numerous loan schemes by the Federal Government of Nigeria is having outstanding loan amounts on any of your accounts.
Before starting out to apply for the loan, take your time to see if you have any outstanding amount with any bank. The bank can be Microfinance Bank or any other type of financial institution registered in Nigeria.
Also check if at one time or the other whether you benefited from any loan scheme like; TraderMoni, MarketMoni, or NpowerMoni loans in the time past. If you have any amount whatsoever, no matter how small the amount is standing on the debit of your account; you cannot be granted further credits or loans until you clear the outstanding amount.
This is a great initiative for small scale farmers; you can use the loan to start a farming project that will mature before six months so as to pay the money back.
Remember that when you pay back, you can collect another one.
Stay with us for more information.
Don’t forget that we have a training institute for Agro-Exports. Contact the admin of this forum if you are interested in equipping yourself with first class training on agriculture and exports.