Presidential Grant and Loan Program is open to Business owners in Nigeria (including Nano businesses) as part of the Presidential Palliative Program.
The scheme prioritise transparency and efficiency, ensuring that funds are disbursed swiftly to deserving businesses, leverages cutting-edge technology to make the entire process accessible through smartphones and computers, allowing SMEs to apply from anywhere and provides resources and training to empower SMEs with the knowledge to manage their funds effectively.
Presidential Grant and Loan Program Summary
- Host Country: Nigeria
- Category: Fellowships
- Eligible Countries: Nigeria
- Reward: Grants | Loan
- No IELTS Required
- Deadline: December 31, 2023
- Scholarship Alerts: To receive Scholarship Alerts on WhatsApp, Click HERE
Presidential Grant and Loan Program Details:
The Presidential Grant and Loan Program is targeted to Nano businesses, MSMES, Manufacturers across 774 Local Governments in Nigeria.
The repayment of the Loan is as follows:
- 3 years repayment period for MSMEs.
- 1 years repayment period for working capital.
- 5 years repayment period for purchase of machinery and equipment.
Eligibility Requirements for Presidential Grant and Loan Program
Below are the business that are eligible to apply to the Presidential Grant and Loan Program:
- Traders: these includes single retail marketers, corner shop owners, petty traders, market men and women in open markets
Food Services: these include food and vegetable Vendors
ICT: these include business centre operators, battery chargers, recharge card vendors, call centre agents
Creatives: makeup artists, fashion designers, drycleaners
- Artisans: vulcanizers, shoemakers, painters, repairers
Benefits of Presidential Grant and Loan Program
- 75 Billion to Businesses with up to N1 million for each beneficiary.
- 75 Billion to Manufacturers with up to N1billion for each beneficiary
- One time grant of N50,000 to businesses
Required Documents for Presidential Grant and Loan Program
To apply, candidates must be ready to have the following documents;
- Proof of residence or business
- Personal or bank details of business
- Application requirements is subjected to bank’s risk assessment criteria.
How to Apply for Presidential Grant and Loan Program