Presidential Palliative Programmes
Transforming businesses, improving lives.
Revolutionizing Financial Support
Introducing The Presidential Palliative Programmes -
A Game-Changer in Economic Empowerment.
The Target Sectors
Below are the business that are eligible to apply to the scheme
Traders
These include single retail marketers, corner shop owners, petty traders, market men and women in open markets
Food Services
These include food, fruits and vegetable vendors, etc
ICT
These include business centre operators, battery chargers, recharge card vendors, call centre agents
Transportation
These include wheelbarrow pushers, independent dispatch riders
Creatives
These include makeup artists, fashion designers, drycleaners.
Artisans
These include vulcanizers, shoemakers, painters, repairers.
Loan Eligibility Criteria
Loan up to 1M
- A) Eligibility Criteria
- Existing business must be in operation for one (1) year,
- Start-ups must be a registered business
- Provide CAC business registration documents.
- Company’s Bank Statement(s) for a period of one (1) year (for existing business)/ Chief Promoter’s (Director or Business owner) Bank Statement(s) for a period of one (1) year (for startups).
- Have required monthly turnover and other things as may be requested by the bank.
- B) Security
- Personal Guarantee of the promoter
- Acceptance of BVN Covenant (Global Standing Instruction- GSI), and any other thing that may be required by the bank
- C) Repayment Frequency
- Monthly equal installment (no moratorium) over a period of 3 years
Manufacturers up to N1billion (Working Capital or Asset Financing)
- A) Eligibility Criteria
- At least 6months business/ corporate banking relationship
- Provide CAC business registration documents
- 12 months bank statement for other bank
- Other documentations that may be required by the bank.
- B) Security
- As may be required by the bank
- C) Repayment term:
- i) Asset Financing
- 6 Months moratorium on principal and interest, 5 years repayment period for asset financing only
- ii) Working Capital Financing
- 12months equal installment of principal and interest
Key Features
Transparent and Efficient:
We prioritise transparency and efficiency, ensuring that funds are disbursed swiftly to deserving businesses.
Digital Transformation:
The platform leverages cutting-edge technology to make the entire process accessible through smartphones and computers, allowing SMEs to apply from anywhere.
Financial Literacy:
We understand the importance of financial education. Therefore, our platform provides resources and training to empower SMEs with the knowledge to manage their funds effectively.
Frequently Asked Questions
Apply Now!
Eligible applications who meet the selection criteria will be shortlisted.