This is to notify the general public on tradermoni loan application and how to successfully get the money. In this article you would get the official Tradermoni Registration Portal and Registration Form.
What is TraderMoni Loan?
TraderMoni is aimed at providing soft loans to micro/petty traders and businessmen/women in Nigeria, to enable them expand their business. After successful creation of your tradermoni account, you will be able to request for the money and receive it directly to your account.
We are aware that many persons have been having issues getting the tradermoni loan and some applied but couldn’t receive the money in their account. This article would guide you on the right steps to take.
The Federal Government through the Bank of Industry (BOI) recently rolled out a soft loan scheme called TraderMoni aimed at funding micro businesses in Nigeria.
How much can I get from the TraderMoni Loan?
You would first be given a loan of N10,000 and you would be required to payback N430 every week for 6 months (or sooner) to expand your business.
Traders who payback the loan will AUTOMATICALLY be entitled to another LOAN of N15,000, and then N20,000, and then N50,000.
Therefore, traders who pay diligently can get a loan up to N50,000 to expand their business, and this is automatic.
How can I apply for FG TraderMoni Loan?
If you wish to apply for the tradermoni loan, you can do so using the guide and link here. It is quite easy as you can apply for the federal government loan online and offline.
How to apply online
- Click on http://tradermoni.com.ng/resources/
- Fill in your details in the form and submit.
- Follow the directions given and collect your loan
How to Apply Offline
- Visit the nearest agent in any of the 36 states across Nigeria (Click to see Trader Moni Agent Network)
- Tradermoni agent will capture your details
- If you qualify, the Federal Government will send you a text message with a code you will dial to get the funds.
How can I repay/pay back my tradermoni loan?
You can repay the loan at any approved banks, this would give you access to higher amount. Look at the table below to know how much you are to pay.
- Loan Tenor: 6 Months
- Weekly repayment with a two week grace period
- Administration Fee of 2.5% (no other charges)
|Loan Amount||Administrative Fee||Amount to Pay Back|
|₦ 10,000.00||₦ 250.00||₦ 10,250.00|
|₦ 15,000.00||₦ 375.00||₦ 15,375.00|
|₦ 20,000.00||₦ 1000.00||₦ 21,000.00|
|₦ 50,000.00||₦ 2500.00||₦ 52,500.00|
Approved Banks to Repay Your Trader Moni Loan
To pay back your Trader Moni Loan, you can walk into any of the below listed bank branches to pay back the loan;
- GT Bank
- Union bank
- Eco Bank
- Fidelity bank
- Wema bank
- Heritage Bank
- Jaiz bank
- Stanbic Bank
- Sterling Bank
The aim of tradermoni bank of industry loan is to ensure that traders running micro businesses, regardless of how micro, so long as you are trading, the Federal Government will support you by giving you a loan of N10,000 (growing up to N50,000) to expand your business to sustenance.
How to become a TraderMoni Agent in Nigeria?
To become a tradermoni agent is quite easy and straightforward. Simply click on this link here to apply to become a TraderMoni Agent
Eligibility Requirements for TraderMoni Loan
All interested traders in the loan must meet the following requirements in order to get their loan request approved.
- Interested applicant must be 18 years and above
- Interested applicant must be business owner or trader
- Trader/Business Owner must be a Nigerian
- Trader/Business Owner must belong to a market cooperative union in your location
- Trader/Business Owner must have a valid BVN
- Trader/Business Owner must have valid identification
- Trader/Business Owner must have valid SIM/Phone number that is register with the service provider.
Please do not fail to connect with us via our various platforms below; for more clarity contact our admin.
If you have any question about TraderMoni, we will be willing to answer them.
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