Presidential Palliative Loan Application Portal Now Open
Presidential Palliative Loan – application portal- This is to inform all citizens of Nigeria about the approval of a palliative loan. The Federal Government of Nigeria has finally kick off an application portal for its Presidential Conditional Grant for Nano Businesses under the Presidential Palliative Program. The scheme offers a grant of N50,000.00 per beneficiary, aiming to support one million nano businesses across the 774 local government areas. So as a citizen of this great country and you want to apply for this Loan, use the link below form more information about the application now.
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Requirements for Presidential Palliative Loan
- Own a nano business.
- Operate a business with progressive economic potential, and desire to grow the business.
- Be willing to engage at least one additional staff member if turnover increases
- Be willing to provide proof of residential/business address in the Local Government Area
- Provide relevant personal and bank account information, including Bank Verification
- (BVN) for verification of identity
- Meet application submission deadline
Apply for the loan through the provided website Presidential Conditional Grant Portal while disbursement will be done by your bank if you meet the eligibility criteria
The loan term is 36 months for MSMEs and Manufacturers (Working capital) is 12months, while Manufacturers (Asset financing) has a 60-month tenor with a six-month moratorium.
Interest Rate and Moratorium Period
9% per annum.
There is a six-month moratorium period for Manufacturers applying for asset financing only.
Additional Information on the Loan
What if I can’t pay back the loan?
The bank will apply all legal measures to recover the loan from the borrower.
Can I apply with a partner company?
Applicant must have a registered business either as a Sole proprietorship, Partnership, or a Limited liability company
Application Details
- Sign up with the your basic details
- Enter your business information with the necessary documentation
- Provide information about your business leadership (Directors)
- Provide information about what the loan will help your business with
Closing date for Presidential Conditional Grant Scheme 2023/2024
The deadline for Presidential Conditional Loan 2023/2024 is Monday, 18th December, 2023.
