Trader Moni 2021 is a government free empowerment programme that is aimed at giving free loan cash to traders, The scheme is initiated by the current president, Muhammadu Buhari, the scheme Trader Moni is to help petty-petty traders and artisans boost their business
What is Trader Moni?
Trader Moni is set up to help petty traders expand their trade through the provision of collateral-free loans of N10,000 – N50,000.
The objective of the Scheme
- Trader Moni aim is to provide loans to market women and traders, artisans, enterprising youths and small scale farmers and agric workers nationwide…
- Trader Moni is aimed at funding micro businesses in Nigeria
- As soon as one applies for Trader Moni, Not too long, the Beneficiary receives the cash.
- Enumerators as well are spread across Nigeria to Register Traders
- From other beneficiaries, The excitement on their faces speaks volumes
The requirement for Trader Moni 2021 Application
- Firstly, you must be a Nigerian
- You must be 18 years and above
- Also, you must be a business owner or a trader
- You must belong to a market cooperative union in your location
- Similarly, you must have a valid identification
- You must have a valid BVN
- Finally, you must have a valid SIM/phone number that is registered with the service providers
How to Apply for Trader Moni 2021 Application form
- Step one: Visit www.tradermoni.com.ng/ or www.tradermoni.ng
- Step two: Scroll down to see the application form or click on APPLY NOW
- Step three: Fill the registration form
- Step four: Click on Register
- Step five: A text message with a code you will dial to get the funds will be sent to your phone number
Notice regarding Trader Moni 2021 Application
- The first amount to receive will be the sum of N10,000. Once this can be repaid, you will be granted access to receive N15,000 in your next application and later up-to N50,000.
- So wait for the turn of your state and find out more from your market cooperative unions or visit the Bank of industry website
- The loans are repayable within a period of six months.
With Trader Moni 2021, you can receive interest-free loans starting from N10,000 and growing all the way to N100,000 as you pay back. You get N10,000 as the first loan.
What is TradeMoni
TraderMoni is a loan programme of the Federal Government, created specifically for petty traders and artisans across Nigeria. It is a part of the Government Enterprise and Empowerment Programme (GEEP) scheme of the Federal Government, being executed by the Bank of Industry. With TraderMoni, you can receive interest-free loans starting from N10,000 and growing all the way to N100,000 as you pay back. You get N10,000 as the first loan. When you pay back the first loan, you immediately qualify for a second loan of N15,000.
After payback of the second loan, you qualify for an N20,000 loan, and then N50,000, and then N100,000. With Trader Moni 2021, the Federal Government wants to change your level by providing continuous loans for your petty business, making each loan bigger to enable you to grow.
Is 10K the least I can collect
NO. The money grows as you payback! You can get up to N100,000. Once you use the N10,000 well and payback, you get N15,000, and then N20,000, and then N50,000, and then N100,000. Getting the next loan is automatic! As soon as you pay back any loan within 3 months, you dial a code on your phone and you the next higher loan immediately.
How many States will get the Trader Moni 2021
By the end of 2021, the Federal Government targets to disburse 2 million TraderMoni loans across all 36 states and the FCT. Each state will receive a minimum of 30,000 loans. The loan is only being administered by BOI, being a bank with the structures and processes to reach out to applicants.
How long do I have to pay back
By the end of 2021, the Federal Government targets to disburse 2 million TraderMoni loans across all 36 states and the FCT. Each state will receive a minimum of 30,000 loans. The loan is only being administered by BOI, being a bank with the structures and processes to reach out to applicants.
Do I need a bank account
By the end of 2021, the Federal Government targets to disburse 2 million TraderMoni loans across all 36 states and the FCT. Each state will receive a minimum of 30,000 loans. The loan is only being administered by BOI, being a bank with the structures and processes to reach out to applicants.
Why is the government providing Trader Moni 2021
Federal Government understands the plight of the over 20 million Nigerians in petty business and in dire need of capital to grow their businesses. These Nigerians rarely have bank accounts and are usually not “interesting” or “profitable” to traditional lenders.
They cannot access loans to trade, and they, therefore, remain in a cycle of poverty. Federal Government is on a mission to break this poverty cycle. TraderMoni can ease your “business cash” problems and make your life better. Is TraderMoni a BOI loan? NO.
Trader Moni is a loan from the Federal Government of Nigeria. The loan is only being administered by BOI, being a bank with the structures and processes to reach out to applicants and deliver loans at a large scale.
Who is Eligible for TraderMoni Loan 2021
If you are a petty trader or artisan in Nigeria, and N10,000 can help your business today, then you are eligible for TraderMoni! For example, if you are a small kiosk owner, foodstuff seller, bread seller, mai shai, wheelbarrow pusher, mobile tailor, mobile cobbler, fruits seller, Keke rider, etc, TraderMoni is here to help your business to get to the next level.
Also, when you pay back the first loan, you immediately qualify for a second loan of N15,000. After payback of the second loan, you qualify for N20,000 loan and then N50,000, and then N100,000.
