To Continuing with the implementation of the Federal Government Grants Program (GEEP), the loan scheme aims to provide soft loans to entrepreneurs who are unable to provide for themselves, thus providing financial support for business activists.
With the introduction of the GEEP loan, the government aims to bridge the gap between small and medium enterprises.
One of the components of the GEEP loan scheme is the Farmermoni, a loan that applies to smallholder farmers in the agricultural sector. If it provides innovation and money to farmers
Small farm owners or agro-farmers are the main target of the loan, producers of this type are expected to apply for this loan by cultivating their products, and providing natural resources to local industries.
According to the FG food security agenda, N250,000 will be given to small workers under the Farmermoni GEEP 2.0 loan.
This is a 6-9 month loan scheme, starting from N250, 000 ($ 694) for farmers in the farming community.
The loan is set aside to suit the different planting season requirements and farming needs.
This product also includes a professional carrier who is committed to buying the farmer from the beneficiaries of this loan for the purpose of providing local food.
Each batch of successful data was divided into batches of 10–20.
Our full call center is in the process of calling the random beneficiaries group to verify the submitted data.
Once verified, the beneficiaries of the program are ready to share in their mobile wallet.
Those who have been proven to benefit by receiving text messages on their phones are looking to respond to a loan offer.
Once received, their wallet money is handed out along with the amount of the loan.
Beneficiaries can choose to send the money to their bank account or receive money through an agent in their market.
Each beneficiary has a 2 week suspension period before they start paying their debts. Borrowing is from a minimum of 3 months to an average of 6 months.
Beneficiaries can pay at any bank or using bauchi cards. Once the beneficiary has paid in full, they will autom