Link To Apply For N50,000 Federal Govt Grants, Loans For Nano Business - Naija Stick

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Link To Apply For N50,000 Federal Govt Grants, Loans For Nano Business

Feb 26, 2024


Link To Apply For N50,000 Federal Govt Grants, Loans For Nano Business


The Nigerian government has recognized the vital role nano businesses play in driving economic growth and creating jobs. To empower these small-scale enterprises, they have launched a program offering N50,000 grants and loans. If you’re a nano business owner looking to take your operation to the next level, this initiative could be the boost you need.


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Who is Eligible?


To qualify for the N50,000 grants and loans, your business must meet the following criteria:


Registered as a nano business: This means your business has a maximum of 10 employees and an annual turnover of less than N25 million.

Operates in Nigeria: Your business must be physically located and operating within Nigeria.

Has growth potential: Your business should demonstrate a clear vision for expansion and job creation.

Willing to hire: If your business receives a grant or loan and experiences increased turnover, you must be willing to employ at least one additional staff member.

Provides residential/business address proof: You must be able to show valid proof of residence or business address within your local government area.

Has relevant personal and bank details: This includes your Bank Verification Number (BVN) for identity verification.

Meets the application deadline: Stay updated on the application deadlines set by the government.


How to Apply:


The application process for the N50,000 grants and loans is straightforward:


     • Visit the official website: The application portal is hosted on the website fedgrantandloan.gov.ng.

     • Click “Apply for Grant”: This will take you to the online application form.

     • Fill out the form accurately: Provide all the required information about your business, including its name, location, registration details, financial statements, and growth plans.

     • Attach supporting documents: These may include copies of your business registration certificate, financial statements, passport photograph, and BVN verification document.

     • Submit your application: Once you’ve reviewed and confirmed everything is correct, submit your application electronically.


Additional Resources:


      • Small and Medium Enterprises Development Agency of Nigeria (SMEDAN): https://smedan.gov.ng/

      • Federal Ministry of Industry, Trade and Investment: https://fmiti.gov.ng/