Beneficiaries Needs To Know About N300,000 GEEP Loan Before Applying.

In this article, I will tell you all what you need to know about GEEP Loan that minister of Humanitarian affairs wants to use as an exit package for 500,000 Npower Beneficiaries

GEEP Loan is an interest-free loan that was established by Federal Government of Nigeria to help poor Nigeria to establish themselves or to increase the small scale business. GEEP means Government Enterprises and Empowerment Program.

Before, GEEP has three category which are Trader Money, Market Money and Farmers money, Now, the minister wants to add N-power Money for the out going batch A and batch B to borrow Upto N300,000 to Start business on their own.

You will pay back the GEEP loan before you are qualify to borrow another one, the loan is from N10,000 to N300,000. Beneficiary will start from N10,000 loan, once he pay N10,000, he will automatically quality for N20,000, once he pay N20,000, he will automatically quality to borrow N30,000 till he is quality to borrow N300,000.

Trader Money: Trader Money is for small business owners to borrow Upto 300,000 increase their business

Market Money: market Money is for people like bread sellers, paper sellers, fruit sellers that are in the market to borrow Upto 300,000 to increase their business.

Farmers Money: this is for Nigeria farmers to invest on their Agriculture, they can also borrow Upto N300,000.

N-power Money: N-power Money is in progress for all batch A and batch B Npower Beneficiaries that are going out to borrow Upto 300,000 to Start their own business.

In the case of N-power money, the Beneficiary will start from N100,000 to N300,000. Each qualify Beneficiary will start from N100,000, once he pay the N100,000, he will automatically quality to borrow N200,000, once he pay N200,000 he will automatically quality to borrow N300,000. The minister has yet to Announce the criteria to select those Beneficiaries who are going to be eligible for this GEEP loan.