How to Apply for FarmerMoni Loan In 2022
The government enterprise program has realized the importance and roles farmers play in the country ( securing the country in terms of food production) they have decided to help farmers this time around with a loan of 300,000 and above.
Are you a farmer in Nigeria, are you interested in expanding your farms, planting more crops in a commercial quantity but has been rendered handicap by lack of funds? here comes a program of the federal government with the aim of helping people like you make your business a success.
The federal government love’s and support farmers, that is why the introduction of FarmerMoni Loan was to offer financial help to farmers and businesses.
How to apply for FG Farmer Moni Loan GEEP Initiative Programme via Eyowo App
- Search for Farmer Moni Loan agent around your Area
- Fill the Farmer Moni Loan Application form with the Farmer Moni agent
- Enter your correct phone number
- Once you receive the code, use it to validate the account
- Once you get alert in your phone, transfer the money to your bank account using the EYOWO APP
- To access your Eyowo App Click Here
Click Here to Apply: https://www.geep.ng/farmermoni.html
Are we paying any interest rates on GEEP farmers moni loan 2021/2022
Yes you are to pay an interest but it is not up to what most commercial banks will charge you.
All farmers who are applying for the farmer moni loan are to pay a 5% interest loan.
Now if you are given 300,000 naira when repaying this money back you will add it 15,000 naira only.
Different type of GEEP program
GEEP stands for government enterprise and Empowerment Programme which is a form of government reinvestment programs that seeks to help farmers, trader and market men and women
- Farmer loan (300,000)
- Trader moni (10,000)
- Market loan (50,000)
Requirements of farmer moni loan of 300,000 2021/2022
- First it’s a must you are from Nigerian
- You must be a farmer in Nigeria and must have prove of that.
- Applicant should be over 18 years of age.
- You must have a BVN number and must be operating a savings account.
- You should belong to any corporative because that’s the only channel you can apply from.
- A member of your corporative must be willing to stand for you.
- You must have a valid means of identification.
- Your corporative group must be register with the corporate affairs commission
Process on how Farmermoni works
1. Farmers associations must be register
The association you belong to must be a register entity recognized by the law if not you won’t be able to register before even accessing the loan
2. Your association must be registered or recognized by boi
After the corporative association you registered with have successfully registered with the corporate affairs commission, next step is to get them to be accredited by the bank of Industry.
To do that they don’t necessarily have to travel all the way to Abuja. Just send a mail to GEEP-states@bio.ng then they will reply you people on the step to follow. Note that they will demand the document you obtain from the corporate affairs commission.
