The Federal Government of Nigeria 2024 Loan Application

The federal government is still accepting applications for the FG Loan Portal Registration, as it has committed to helping Nigerians get loans of up to one million naira.

The Presidential Palliative Programs, as the federal government named them, transformed enterprises as a novel approach to enhancing lives.

Note: You can apply for the loan through the provided website, loan.fedgrantandloan.gov.ng, while disbursement will be done by your bank if you meet the eligibility criteria.

Read About Nigeria Loan Here: https://www.afterschoolafrica.com/?s=nigeria+loan

FG Loan Portal Registration Application 2024

There are some requirements to apply for a $1 million FG loan application, as listed by the Federal Government on its official website.

You should be aware that the only website for applying for FG Loan Portal Registration is https://loan.fedgrantandloan.gov.ng/, and the portal will be closing soon.

• FG Loan Eligibility Criteria
• Loan up to $1M
  • A) Eligibility Criteria
    • Existing businesses must be in operation for one (1) year.
    • Start-ups must be registered businesses.
    • Provide CAC business registration documents.
    • Company’s Bank Statement(s) for a period of one (1) year (for existing businesses) or Chief Promoter’s  (Director or Business Owner) Bank Statement(s) for a period of one (1) year (for startups).
    • Have required monthly turnover and other things as may be requested by the bank.
  • B) Security
    • Personal Guarantee of the Promoter
    • Acceptance of the BVN Covenant (Global Standing Instruction, GSI) and any other things that may be required by the bank
  • C) Repayment Frequency
    • Monthly equal installment (no moratorium) over a period of 3 years
• Manufacturers up to N1 billion (working capital or asset financing)
  • A) Eligibility Criteria
    • At least 6 months of business or corporate banking relationship
    • Provide CAC business registration documents.
    • 12 month bank statement for another bank
    • Other documentation may be required by the bank.
  • B) Security
    • As may be required by the bank
  • C) Repayment term:
    • i) Asset Financing
      • 6 month moratorium on principal and interest, 5 year repayment period for asset financing only
    • ii) Working Capital Financing
      • 12 months of equal installments of principal and interest

Read Also: Providus Bank SME Program 2024 for Nigerian Entrepreneurs.

Method of Application

Click Here to Apply