Presidential Grant and Loan Program for Nigerians

The Presidential Grant and Loan Program is open to Business owners in Nigeria (including Nano businesses) as part of the Presidential Palliative Program.

The scheme prioritise transparency and efficiency, ensuring that funds are disbursed swiftly to deserving businesses, leverages cutting-edge technology to make the entire process accessible through smartphones and computers, allowing SMEs to apply from anywhere and provides resources and training to empower SMEs with the knowledge to manage their funds effectively.

Host: Nigeria
Open To: Business owners in Nigeria
Tagged: Opportunities
Eligible Countries: Nigeria
Benefits: Grants | Loan
Deadline: December 31, 2023

The Presidential Grant and Loan Program is targeted to Nano businesses, MSMES, Manufacturers across 774 Local Governments in Nigeria.

The repayment of the Loan is as follows:

• 3 years repayment period for MSMEs.
• 1 years repayment period for working capital.
• 5 years repayment period for purchase of machinery and equipment.

Eligibility Requirements for Presidential Grant and Loan Program

Below are the business that are eligible to apply to the Presidential Grant and Loan Program:

1. Traders: these includes single retail marketers, corner shop owners, petty traders, market men and women in open markets
2. Food Services: these include food and vegetable Vendors
3. ICT: these include business centre operators, battery chargers, recharge card vendors, call centre agents
4. Creatives: makeup artists, fashion designers, drycleaners
5. Artisans: vulcanizers, shoemakers, painters, repairers

Benefits of Presidential Grant and Loan Program

For Loan

• 75 Billion to Businesses with up to N1 million for each beneficiary.
• 75 Billion to Manufacturers with up to N1billion for each beneficiary

For Grant

One time grant of N50,000 to businesses

Required Documents for Presidential Grant and Loan Program

To apply, candidates must be ready to have the following documents;

• Proof of residence or business
• Personal or bank details of business

Application requirements is subjected to bank’s risk assessment criteria.

How to Apply for Presidential Grant and Loan Program

Interested and qualified applicants should click on the link below to complete the application process.

FIND OUT MORE AND APPLY

Deadline:

December 31, 2023