Tradermoni N50k Interest Free Loan Launched – Apply Now

Tradermoni N50k Interest-Free Loan Launched – Apply Now

The Federal governement has relaunched the TraderMoni scheme with an N50,000 interest-free loan for all market people in Nigeria. The loan program which was initially N10,000 per person under the GEEP initiative of President Mohamadu Buhari and supervised by the then vise President Yemi Osibanjo has now been relaunched under President Tinubu administration with an increased amount and is now managed by the Ministry of humanitarian affairs.

As of the time of writing this article, some markets in Nigeria have already started the application process as they received the enrollment team from the ministry who are there to make sure the loan gets to the actual people it was meant for.

New TraderMoni Loan Distribution Process

During the launch of the new TraderMoni scheme, the now-suspended minister of humanitarian affairs Beta Edu promised that she and her team would visit 109 big markets across the country to spread the news of the loan to market sellers and open a bank account for interested applicants, and the money will then be sent from the CBN account to the registered persons. She also added that over time participants will receive higher loans from the initiative. See other ways to apply for the loan in case you’re not in a big market.

Getting More Than N50k Loan From TraderMoni

If you want to be one of those who will receive more than the 50,000 Naira loan from the TraderMoni scheme, you simply need to make sure of the following;

Make sure you repay your initial loan of N50,000
Make sure you provide accurate data while applying for the loan
Make sure you don’t apply more than once for the loan
Ensure your BVN and NIN details correspond with the information you are providing.
Finally, make sure to apply for a higher amount after paying your loan.

Benefits

Just in case you are wondering what benefits you will get from the TraderMoni interest-free loan, here are some thoughtful benefits;

Access to credit
0% Interest
Flexible repayment plan
Little or no paperwork

To get these benefits as a TraderMoni applicant, you must be willing to utilize the loan effectively especially if you are a petty trader, artisan, or craftsman. This loan can be a good input to increase your business, increase your profit margin. It can also be a great way of creating jobs and boosting the Nigerian economy but it all depends on how well you utilize your loan when given.

How to Apply for TraderMoni Loan

Applying for the loan is done in 2 easy ways, you can either apply through the team of the Ministry of Humanitarian Affairs when they visit your market or you can also apply online through the loan application portal at https://nsipa.gov.ng/geep/