Iyaloja Funds: FG earmarks N75bn interest-free loan for traders | IYALOJA Market Fund Application Form Portal | Iyaloja Funds: ₦50,000 – ₦1.5m Free loan – The Iyaloja Fund will provide for poor market traders, helping them improve their capital and expand their businesses. These are non-interest loans given to these persons.
Application for Iyaloja Fund is set to commence on 17th of this month, find out all you need to know about the 50k Loan program here
The Federal Government will advance a non-interest loan of N50,000 each to 1.5 million market women under the Government Enterprise and Empowerment Progamme to improve their capital base and expand their businesses.
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The Federal Government of Nigeria (FG) is set to launch a new loan scheme for petty traders, known as the IYALOJA/GEEP Loan Scheme, in November 2023. The IYALOJA application portal is has been released for interested applicants to apply and will come live soon.
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The application process for the Iyaloja/GEEP Loan Scheme is relatively straightforward. Here’s a step-by-step guide:
Once your application is submitted, it will undergo a review process. If your application is successful, you will be notified and invited to participate in a mandatory financial literacy training program.
After completing the training, you will receive the loan amount of N50,000 or N1,500,000 which is typically disbursed electronically.
The enumerator will capture the trader’s information and open a savings account for them. Once the trader’s registration is complete, they will receive the N50,000 or N1,500,000 loan directly into their savings account.
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