GEEP Stands for Government Enterprise and Empowerment Programs. A program established by the federal government of Nigeria to help SME( small and medium enterprises) businesses solve the problem of capital.
Geep was established in 2015 under the President Buhari administration and has since it’s established to help thousands of Nigeria as it serves as a source of fortune.
The Aim of Geep is to help establish some businesses, businesses that serve as the bedrock of the Nigerian economy.
It runs on a zero interest rate but as an applicant for the loan, you must have your business already established and registered.
Entities Eligible for GEEP loan
3. market men and market women
4.Graduate and undergraduate.
One of the beautiful things about the Geep loan is that it doesn’t require its applicants to have any formal education.
GEEP loan Requirements
- As An Intended applicant, you must be a citizen of Nigeria preferably by birth.
The applicant must have an already established business.
Applicants must have a means of identification either a voter’s card or national identity card.
The applicant must have the means of repayment
GEEP loan Scheme
There are various programs to which Geep offers, which I would love you to know about.
1. FARMERS MONEY: The loan program is majorly for farmers or anyone into the agro-allied business. for example Animal husbandry, fish farming, etc.
2. MARKET MONEY: if you are into marketing of goods and you are in need of a loan then market money is the Geep program for you.
Your business must have been duly registered and certified with the co-operate Affairs commission ( CAC ).
3. TRADERS MONEY: This program is majorly for small enterprises like barbing salons, tailoring businesses, etc. The loan for this program is aimed at the expansion of the business.
4. N-POWER LOAN PROGRAM: I personally regard this as the best because it opens up loan opportunities to n-power staff, especially those that are about leaving the program, the loan helps them in Starr any business of their choice as long as it falls under the small-medium enterprise.
Steps to Apply for GEEP loan
There is various weblink assigned to the various loan program:
- To Apply for the N-power loan program
go to “www.npower.gov.ng”.
To Apply for the traders, farmers and market program
go to “www.tradeemoni.com.ng”.
GEEP contract and Repayment Plan
In government enterprise and employee program (GEEP), you can ask for a loan amount as little as #10,000 and as high as #300,000.
N/B: the more you repay your loan at the appropriate time, the more you gain leverage to ask for a higher loan amount until you reach the highest level which is #300,000.
For example, if you Ask for a loan amount of #50,000 and you pay at the due date, you would be permitted to ask for a higher loan ranging from #60,000 and above.
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