Official Trader Moni Registration Portal & Registration Form: This post is specially designed to guide micro businessman or traders. They can easily create Trader Moni account and get money direct into account.
Let me tell you that this Federal Government Trader Moni loan scheme has been specially made to help small/micro traders of the country who need free business loan in Nigeria. The government wants to provide a good business environment for small traders or businessman, hence it is considered to be a very important scheme.
A lot of Nigerians have heard about this business loan scheme but do not know about the Trader Moni Registration Portal i.e. www.tradermoni.com.ng and www.tradermoni.ng. A lot of aware Nigerians have registered for a loan using this moni portal and many have even got moni loan.
We have prepared this page to make you aware. Here you will be guided regarding how to use registration portal, how to apply FG Trader Moni and to get your approved loan money transferred to your account directly.
What is TraderMoni?
Trader Moni is a loan programme of the Federal Government. This Loan is available for small traders and artisans in Nigeria. It is an advanced stage program of social assistance programs to become business independence that targets micro enterprises in the lowest level, which cannot yet be facilitated by banking through the People’s Business Credit (KUR) program.
The Federal Government offers interest free loans through this TradeMoni Programme. Initially, the eligible candidate will be given a loan of N10,000 and he will be offered a loan of N15,000 when he pay back the first loan. In the same way when the second loan payment will be made, the candidate will be eligible for a loan up to N20,000 and then N500,000 and then N100.000. Visit www.tradermoni.ng portal to know more about Trader Moni Nigeria, Application Progression, Interest Free Loan, How many states will get loan, Who is Eligible, How long do I have to pay back, Do I need bank account, etc..
The Presidency emphasized that the Trade Moni is still available in Nigeria to provide small funds for small traders.
Vice President Yemi Osibenjo has told Nigerians and the general public that the end of Trader Moni is just a rumor and has urged everyone to ignore these rumors that the federal government has ended the Trader Mooney plan.
Vice President, Yami Osinabajo has revealed that the Federal Government will target 10 million small traders under the next level agenda of their second term for trader money loans.
So far, a target of 30,000 minimum beneficiaries per state has been achieved in majority of the 36 states and FCT since after the national and state polls.
“We have had over 28,000 disbursements across 10 states since after the elections,” he disclosed.
Benefits of Trader Moni Micro Credit / Loan for Small Entrepreneurs / Traders
TraderMoni microcredit is a small loan that is usually intended for people with lower-class economies who have no collateral, permanent employment, trusted credit history, and are unable to obtain ordinary credit. This type of credit is included in loans or loans that do not require severe requirements such as other types of credit. Banks that provide this type of microcredit will usually set a nominal loan limit of up to ₦ 50,000.00. The Bank will ensure this credit borrower has a business that is being run.
By applying for this Trader Moni Loan, you can pay it off in a monthly way. The repayment period is determined based on an agreement between the Bank and the borrower. Every month you will repay the loan principal along with the loan interest rate determined by the Bank.
Therefore, if you want to develop your small business into a more successful business, you can immediately apply for this type of credit to a bank online through Trader Moni Portal www.tradermoni.com.ng
What is Trader Moni Registration Portal
Here we want to make it clear that this post is designed to enhance your knowledge but it is not part of the official Trader Moni registration portal.
The official web address of Trader Moni Portal is www.tradermoni.ng
TraderMoni Social Investment Program 2020 at www.tradermoni.ng
This is a very useful program whose main purpose is to provide loan to micro traders, market women, small scale farmers and agric worker nationwide. Let me tell you that this loan scheme is operated under Bank of Industry. If you are a petty traders and required loan, then time to get collateral free loan of N10,000. There are so many traders here who can do very good business but they lack the funds. All of them can get loans through this scheme. In this article below, we will explain to you how to apply tradermoni loan online or through trader moni agent.
- 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|
From the information given in the table above, you can understand how much the administrative fee will be charged and what amount you have to repay to the bank. If still there is a question in your mind then you can type your question in the comment box, we will try to give best answer.
You can apply for a loan through this official website. There are certain conditions/requirements for trader moni which are necessary for everyone and its information is given below.
Trader Moni Application Registration Requirements
- 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
- Candidate who fulfills all the above Trader Moni Registration Requirements can proceed for application form registration process.
How to Apply for FG Trader Moni Loan
- First visit online to official portal=> http://tradermoni.com.ng/
- Navigate homepage carefully
- Click on “Apply” link
- A new page will open
- Fill the “Registration Form” carefully
- After filling correctly click on “Register” button
- Verify your email / phone number
- Login to portal, complete form and get money transferred to bank account
There is also second method to apply
- Visit to Trader Moni Agent in your State
- Agent will capture all your details
- Agent will send your credentials/captured details to bank for verification
- After verification FG Government will send you a SMS with code
- You need to dial this code to get funds
- You can Pay Back the money through various banks such as GTB, UBA, ECOBank, Union Bank, Stanbic, Sterling, Wema, Fidelity, Heritage, Jaiz etc.
In order to get more information only visit Trader Moni Portal – www.tradermoni.ng.
Conclusion on Trader Moni
Trader Moni collateral free loan usually have considerable interest because of the high risk that must be borne by the lender. Without collateral means the lender does not get a guarantee that the debt will be paid off. If the borrower does not pay the debt, the lender cannot confiscate and auction the asset because there are no assets that are used as collateral. As a result, usually interest for loans without collateral can be far greater than loans with collateral so thanks to trader moni.
Big interest is certainly a big burden. Moreover, if you use it for business capital, the profits are not necessarily big. Fortunately, there are now lighter offers for business owners in the form of working capital loans without collateral . This type of loan usually has a smaller interest rate compared to loans without collateral for personal consumption needs.
Usually, trader moni loans with small interest collateral are given by Bank of Industry to small and medium entrepreneurs as an effort to help entrepreneurs to develop their businesses. This is very important for the government because small and medium entrepreneurs have a considerable influence on the country’s economy. In addition, when the business ZCV gets bigger, the business will require new employees, which means opening jobs. For the government, this certainly helps the problem of unemployment. That is the reason why the government provides light business loans that do not require collateral and small interest.
In addition to banks and government-owned institutions, banks and private institutions also offer working capital loans without collateral, whose interest is not too large. The reasons are quite diverse, such as competition between banks, which causes banks to have to use various ways to get customers, including setting smaller interest rates. In addition, there are usually incentives or benefits provided by the government for banks that want to provide light business capital loans to the public.
For banks and financial institutions, providing loans as venture capital provides a smaller risk than providing loans for personal consumption provided the business has prospects that can be developed. For businesses that have high prospects, the likelihood of profits is very large so that employers have the ability to pay debts.
Trader Moni Loans without collateral can be given as initial business capital or as additional capital for businesses that are already running. Of course, there are differences between the two, especially in terms of requirements and the number of loans that can be given.
For start-up capital, the requirements are quite heavy because the borrower must submit an attractive business plan with very high prospects. The proposal made must be neat, detailed, and convincing. This is certainly not easy because there are so many calculation factors and possibilities. Usually this type of loan quota is also limited so the competition is tighter. Then, the loan amount is not too large. But that does not mean that this loan is impossible, because many have got it. Creative and innovative types of business have a higher chance of being able to get a loan in sufficiently large amounts.
For business capital that has been running, the requirements are also not easy because there must be evidence of financial stability and also the prospect of interesting developments . However, if you succeed in fulfilling it, the number of loans that can be submitted is usually quite large. Then, the quota provided for credit is usually also greater. If your business goes well, it is very likely that you will get a loan.
On unsecured loans, your notes or credit history are very influential. If you have a good credit record, chances are you get a large loan, and vice versa. If your credit record is bad, it is difficult for you to get a loan. Therefore, it is very important for you to be disciplined in paying debts before or at least not exceeding the due date.
How to get More Loan from Trader Moni
After you get a loan from trader mini and can prove discipline in paying credit, you will be able to get a loan back with a loan that may be larger. In fact, chances are that the bank offers you a new loan. In addition, you may get many attractive offers such as getting discounts on fees charged.