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Link to Apply for Presidential Conditional Loan

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Presidential Conditional Loan Scheme

Presidential Conditional Loan Scheme: Quick Guide


Loan: Are you a business owner seeking financial support? The Presidential Conditional Loan Scheme might be the answer you’re looking for. Here’s a quick guide on how to access the loan and what you need to know:

Application Process

To apply for the loan, visit www.fedgrantandloan.gov.ng. If you meet the eligibility criteria, your bank will handle the disbursement. Check the website for detailed criteria.

Eligibility and Terms

  • Loan Term: 36 months for MSMEs, 12 months for Working Capital, and 60 months for Manufacturers (Asset Financing) with a six-month moratorium.
  • Interest Rate: 9% per annum.

What if I Don’t Meet the Criteria?

Unfortunately, if you don’t meet the criteria, your application won’t be considered.

Explore the opportunities offered by the Presidential Conditional Loan Scheme and take a step towards securing the financial support your business needs.

Application Process Details:

  • The applicant must have a registered business as a Sole proprietorship, Partnership, or Limited liability company.
  • Applicants/promoters must be 18 years and above.

Application Timeline:

  • The application process duration varies by bank but typically takes around 2 weeks.

Application Status and Reapplication:

  • Check your application status by logging into your profile. If rejected, you may reapply for minor issues, with additional information.

Multiple Applications:

  • Applying with different companies is not allowed; multiple applications will be disqualified.

Deadline:

  • The deadline for application submission is 31/12/2023.

Thanks for reading! You can join FG Empowerment Group on Telegram to interact with various other applicants. Have questions? If ‘yes’, go to the comment section.

For more information about the Presidential Conditional Loan Scheme, visit the official website here.


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