2024 Presidential Grant and Conditional Loan | How to Apply
As part of the Presidential Palliative Program, the Presidential Grant and Loan Program welcomes business owners in Nigeria, including Nano businesses. This initiative prioritizes transparency and efficiency, ensuring swift disbursement of funds to deserving businesses. Leveraging cutting-edge technology, the entire process is accessible through smartphones and computers, allowing SMEs to apply from anywhere. Additionally, the program provides resources and training to empower SMEs with knowledge for effective fund management.
Program Details:
- Targeted Audience: Nano businesses, MSMES, and Manufacturers across 774 Local Governments in Nigeria.
- Repayment Period:
- 3 years for MSMEs
- 1 year for working capital
- 5 years for the purchase of machinery and equipment
Eligibility Requirements: The Presidential Grant and Loan Program welcomes applications from various business categories, including:
- Traders: Single retail marketers, corner shop owners, petty traders, market men and women in open markets.
- Food Services: Food and vegetable vendors.
- ICT: Business center operators, battery chargers, recharge card vendors, call center agents.
- Creatives: Makeup artists, fashion designers, dry cleaners.
- Artisans: Vulcanizers, shoemakers, painters, repairers.
Benefits:
- For Loan:
- N75 billion allocated to businesses with up to N1 million for each beneficiary.
- N75 billion allocated to manufacturers with up to N1 billion for each beneficiary.
- For Grant:
- One-time grant of N50,000 to businesses.
Required Documents: To apply, candidates must have the following documents ready:
- Proof of residence or business.
- Personal or bank details of the business.
- Application requirements are subject to the bank’s risk assessment criteria.
How to Apply: Interested and qualified applicants can use the “CLICK HERE TO APPLY” button to complete the application process.
Best Wishes for Your Business Success!
