How to apply for trader moni loan in Nigeria
August 11, 2019
How to apply for trader moni loan in Nigeria
How to apply for trader moni loan – The federal government of Nigeria had through the Bank of Industry (BOI) established a loan scheme termed “Trader Moni”, in August 2018.
It however adopted this strategy to enhance financial inclusion as well provide little startup loans to petty traders who could not access the traditional loan with the existing credit institutions in Nigeria, especially those at rural areas and grassroots.
It has become a genuine and general perception that your best business idea cannot survive without money. The problem of facility in small and medium enterprise business is as old as man.
Looking at the level of poverty and the quest to enable everyone have access to money as embodied in the federal government’s financial inclusion project, thus gave birth to Trader Moni and “how to apply for Trader Moni.”
The loan scheme is divided into two phase usually the introductory and the advance stage. The introductory stage is referred to as the starting point, where these petty traders are given N10k for a start.
They are however expected to return this N10k after a period of six months, with little or no interest charged.
The advance stage is dependent on the success of the introductory stage, which stands that if a petty trader accessed the initial N10k and was able to pay back within the stipulated period of time, he/she then stands a chance to access further trader moni loan from N15k to N50k as the case may be.
As we journey into this guide, I will likewise answer your questions on the following:
- Trader moni application
- Trader moni code
- Trader moni link
- Trader moni agents
- Trader moni registration link
- Trader money registration portal
- Trader moni application form
- Trader moni BOI and many more will form part of this guide in a very elementary and explanatory way.
HOW TO APPLY FOR TRADER MONI LOAN: REQUIREMENTS
As much as trader moni is very easy to access, it’s however accompanied by minimal documentation, you are expected to meet the below criteria,
- Applicant must be a Nigerian not younger than 18yrs
- You are expected to have a valid means of identification, which include Drivers’ license, national ID card, voters’ card inclusive but not compulsory.
- You should have been operating an existing business
- You are expected to have a valid BVN and a registered phone number.
- You should be an active member of a market corporation union in your location.
HOW TO APPLY FOR TRADER MONI LOAN/TRADER MONI APPLICATION
Application for the trader moni loan is however structured in two broad categories namely the offline and online series.
Giving that most of these traders lack the basic knowledge of computer, federal government had as well availed them genuine opportunity to get enrolled on trader moni at any Bank of Industry (BOI) location very close them.
If you have the basic knowledge of computer, it’s advisable you go online to complete the process, it’s not only easier that way but faster as well to reduce the turn round time.
Kindly follow the below steps to register online
- Kindly visithttps://www.boi.ng
- Click on “apply for loan now”
- Select “register here”
- Provide your data as required in this order, your complete name, phone, email, address etc, proceed
- You will receive a “verification link and tracking code,” ensure you supply a genuine and valid email address, if you can’t find activation link in your inbox, kindly check your junk mail.
- Kindly click on “verification link” to login.
- Complete the application form as seen on the portal, save and continue.
- You will receive a mail confirming receipt of your application.
Tader Moni link/Trader Moni code
The understanding of trader moni link and code is not a rocket science, trader moni link is the link being sent to your email address provided while completing the online form on the Bank of Industry (BOI) portal. This link enables confirmation of your application.
Trader Moni code is a unique code for checking your trader moni status at any point, this code is being sent alongside your trader moni link at the point of registration into your email as well.
Trader Moni agents
Trader Moni agents are responsible for enrolling traders into the federal government trader moni scheme, they are however found at different locations and states where the trader moni program had kick started.
How to enroll as a trader moni agent: Actually there’s no portal or platform to enroll as a trader moni agent at this point, you may however contact any trader moni agent in your area or BOI in your state. You may however call trader moni on 0700-6275-386 or 0700-1000-200, you can reach them on twitter @trader_moni
Trader Moni registration link/Trader Moni registration portal
This link/portal can be accessed onhttps://www.boi.ng/apply , just follow the directives on the portal.
Trader Moni application form:Every form you will ever need for registration had been carefully included on the portal. Except if you are enrolling offline, the BOI or agent in your area will make provision for documentation.
Trader moni Bank of Industry (BOI): The federal government of Nigeria is executing the Government Enterprise and Empowerment Program (GEEP), a microcredit social intervention scheme “Trader Moni” via Bank of Industry as soul lenders.
That’s pretty all on how to apply for Trader Moni loan in Nigeria at this time. The program is however aimed at the 36 states of the federation. Do you have challenges with this application, let’s here from you now.
Raphael Orji is a freelance writer, professional blogger and a content marketing consultant. I work with small businesses, startups and entrepreneurs in building their brand image with high quality blogging and content marketing strategy.
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