FG Releases Application Portal for Grants, Loans for Petty Businesses and Others

FG Releases Application Portal for Grants, Loans for Petty Businesses and Others.

The federal government of Nigeria has officially launched an application portal for its N150 billion presidential grant program to support nano businesses. This initiative is part of the wider presidential palliative program designed to financially assist businesses nationwide.

Eligible businesses are encouraged to apply for both loans and grants through the designated portal, accessible at the following link: https://loan.fedgrantandloan.gov.ng/

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Target beneficiaries include a diverse range of small-scale entrepreneurs, such as:

• Vulcanizers
• Makeup artists
• Wheelbarrow pushers
• Petty traders
• Dry cleaners
• Food service providers
• Business center operators
• Battery chargers
• Recharge card sellers
• Call center operators
• Independent dispatch riders
• Fashion designers
• Shoemakers
• Painters

Selection criteria for the grant program prioritize women and youth-owned businesses, allocating 70% of the grant funds to this group. Additionally, 10% is dedicated to people with disabilities, 5% to senior citizens, and the remaining 15% is available to other eligible applicants.

Target beneficiaries: 1 million nano businesses across all 774 local government areas

Eligibility criteria:

• Proof of residential/business address in local government area
• Relevant personal and bank account information
• Bank Verification Number (BVN)

Application deadline: Not specified

Application portal: https://loan.fedgrantandloan.gov.ng/

This initiative represents a significant investment by the Nigerian government in supporting small-scale businesses, which are the backbone of the economy.

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FG Releases Application Portal for Grants, Loans for Petty Businesses and Others.

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