Federal Government Palliative Loan Scheme Portal Open 2023/2024 » Voice of Nigeria
The government is giving away billions of Naira to help Nigerian businesses just like yours! 🇳🇬
Are you struggling financially? Need help growing your business? This could be the answer you’ve been waiting for!
Here’s what you can get:
- Free grants of N50,000 for small businesses in all 774 local government areas.
- Low-interest loans for micro, small, and medium-sized businesses (MSMEs) and manufacturers.
- No strings attached! Just apply and see if you qualify.
Don’t miss out on this incredible opportunity!
The Presidential Palliative Programme: Transforming Businesses, Improving Lives
Revolutionizing financial support for businesses and individuals across Nigeria, the Presidential Palliative Programme (PPP) is a game-changer in economic empowerment.
Who is eligible?
The PPP targets a wide range of businesses, including:
Traders: Single retail marketers, corner shop owners, petty traders, market men and women.
Food Services: Food vendors, fruit and vegetable vendors, etc.
ICT: Business center operators, battery chargers, recharge card vendors, call center agents.
Transportation: Wheelbarrow pushers, independent dispatch riders.
Creatives: Makeup artists, fashion designers, dry cleaners.
Artisans: Vulcanizers, shoemakers, painters, repairers.
Micro, Small and Medium-sized Enterprises (MSMEs) across various sectors.
Manufacturers.
N50 Billion Grants for Nano Businesses:
Start Date: October 10th, 2023
Duration:
- Six weeks for planning
- Three weeks for official communication
- Six weeks for verification
Continuous fund disbursement starting December 12th, 2023
N75 Billion Loans for MSMEs and Manufacturers:
Start Date: October 10th, 2023
Duration:
- Six weeks for planning
- Continuous call for entries
Revolving fund disbursement starting December 5th, 2023
Repayments starting June 5th, 2024
Financial Assistance Programs:
The PPP continues to offer two types of financial assistance:
Presidential Conditional Grant Programme: This program provides a one-time grant of N50,000 to eligible nano businesses across all 774 local government areas in Nigeria.
Presidential Palliative Loan Programme: This program offers loans with a 9% per annum interest rate to micro, small, and medium-sized enterprises (MSMEs) and manufacturers. The loan amount and tenor vary depending on the business type and purpose.
The Presidential Palliative Programme: A Comprehensive Guide with Updated Deadlines
Empowering Businesses and Transforming Lives in Nigeria
The Presidential Palliative Programme (PPP) remains a significant initiative launched by the Nigerian government to provide financial support to businesses and individuals impacted by the fuel subsidy removal. Aiming to revolutionize financial support by offering affordable loans and grants, this program continues to contribute to economic growth and improve lives throughout the country.
Eligibility Criteria:
- To be eligible for the PPP, businesses must meet the following criteria:
- Be registered with the Corporate Affairs Commission (CAC) or relevant regulatory bodies.
- Have a valid Bank Verification Number (BVN).
- Operate within the targeted sectors.
- Demonstrate a clear need for financial assistance.
- Meet specific financial and operational requirements.
How to access the loan:
Apply online: Visit the website https://www.fedgrantandloan.gov.ng/ and complete the application form.
Eligibility assessment: Your application will be assessed based on the criteria outlined on the website.
Disbursement: If you meet the eligibility criteria, your loan will be disbursed through your bank.
Application Process:
The application process for the PPP remains simple and straightforward:
Visit the FG Palliative Loan Scheme Portal: https://www.fedgrantandloan.gov.ng/: https://www.fedgrantandloan.gov.ng/
Create an account: Sign up with your basic details.
Complete the online application form: Provide accurate information about your business and the requested loan or grant.
Submit your application: Upload necessary documents and supporting evidence.
Wait for assessment: Your application will be reviewed by the program administrators.
Receive notification: You will be informed of the application outcome via email or SMS.
Disbursement: If approved, your loan or grant will be disbursed through your chosen bank account.
Loan terms:
Loan amount: Varies depending on the type of business and loan purpose.
Loan term: 36 months for MSMEs and Manufacturers (Working capital) is 12 months, while Manufacturers (Asset financing) has a 60-month tenor with a six-month moratorium.
Interest rate: 9% per annum.
Repayment terms: Equal and consecutive monthly repayment of principal and interest for the tenor of the loan.
Key benefits:
Reduced financial burden: Access to affordable loans can help businesses overcome financial challenges and invest in growth.
Improved business operations: The loans can be used to purchase equipment, inventory, and other essential business needs.
Increased income and job creation: By supporting businesses, the PPP can contribute to economic growth and job creation.
More resilient communities: Strong and sustainable businesses are crucial for building thriving communities.
Important dates:
Application deadline: December 31, 2023.
Shortlisting of eligible applications: Ongoing.
For more information:
Palliative Loan Scheme Portal: https://www.fedgrantandloan.gov.ng/
Palliative Loan Scheme Portal Application link: https://loan.fedgrantandloan.gov.ng/auth/loan-register
Don’t miss out on this opportunity to transform your business and improve your life. Apply today!
