The Presidential Grant And Loan Program | Nigeria 2024

As part of the Presidential Palliative Program, the Presidential Grant and Loan Program is offered to Nigerian company owners (including Nano businesses).

The scheme prioritizes transparency and efficiency, ensuring that funds are disbursed quickly to deserving businesses, leverages cutting-edge technology to make the entire process accessible through smartphones and computers, allowing SMEs to apply from anywhere, and provides resources and training to equip SMEs with the knowledge to manage their funds effectively.\

Presidential Grant and Loan Program Details:

The Presidential Grant and Loan Program is targeted to Nano businesses, MSMES, Manufacturers across 774 Local Governments in Nigeria.

The repayment of the Loan is as follows:

• 3 years repayment period for MSMEs.
• 1 years repayment period for working capital.
• 5 years repayment period for purchase of machinery and equipment.

Requirements

Below are the business that are eligible to apply to the Presidential Grant and Loan Program:

• Traders: these includes single retail marketers, corner shop owners, petty traders, market men and women in open markets
• Food Services: these include food and vegetable Vendors
• ICT: these include business centre operators, battery chargers, recharge card vendors, call centre agents
• Creatives: makeup artists, fashion designers, drycleaners
• Artisans: vulcanizers, shoemakers, painters, repairers

Benefits of Presidential Grant and Loan Program

For Loan

• 75 Billion to Businesses with up to N1 million for each beneficiary.
• 75 Billion to Manufacturers with up to N1billion for each beneficiary

For Grant

• One time grant of N50,000 to businesses

Required Documents for Presidential Grant and Loan Program

To apply, candidates must be ready to have the following documents;

• Proof of residence or business
• Personal or bank details of business
• Application requirements is subjected to bank’s risk assessment criteria.

How to Apply

Click here to apply

Goodluck!

Deadline: December 31, 2023