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N50bn Grant, N75bn Loan: Simple Application Guide and Deadline
Thursday 7 December 2023
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In a significant move, the Nigerian government is rolling out a N50 billion grant for nano businesses and a N75 billion loan program for MSMEs and Manufacturers. Here's an easy-to-follow guide:
N50 Billion Grants for Nano Businesses (Start Date: 10th Oct 2023)
- Grant Duration: Plan for 6 weeks, official communication for 3 weeks, and verification for 6 weeks.
- Get Funds: Starts from 12th Dec 2023. CONTINUE READING.........
N75 Billion Loans: MSMEs and Manufacturers (Start Date: 10th Oct 2023)
- Loan Duration: Plan for 6 weeks and continuous call to entry.
- Receive Funds: Begins from 31st Dec 2023.
- Start Repayments: 5th June 2024.
Presidential Conditional Grant Scheme (PCGS)
- Grant Amount: N50,000 per beneficiary.
- Who's Eligible: 70% women and youth, 10% people with disabilities, 5% senior citizens, 15% other demographics.
- Apply By: December 18, 2023. CONTINUE READING........
Loan Application Details
- Website: Loan Portal
- Deadline: December 31, 2023.
- Check Eligibility: Official Website
- Interest Rate: 9% per annum.
- Wait Period: 2 weeks (depends on your bank).
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Identity Verification: Bank Verification Number (BVN)
- Why BVN: Boosts security, reduces fraud, and makes identity checks easier.
- What to Provide: Account number, Account Name, BVN.
Business Criteria
- What's a Nano Business: Very small-scale with asset value <1m, less than 4 employees, and annual turnover <1m.
- Progressive Economic Potential: Should create jobs and boost wages.
Visit Grant and Loan Portal for all the details. Don't miss out on this chance to boost your business!
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