Federal Government 2024 Loan Application

The FG Loan Portal Registration Application is still ongoing, as the federal government has promised to assist Nigerians with up to 1 million Naira in loans.

The Federal Government called the program the Presidential Palliative Programmes, transforming businesses as a new way of improving lives.

Note: You can apply for the loan through the provided website loan.fedgrantandloan.gov.ng while disbursement will be done by your bank if you meet the eligibility criteria.

FG Loan Portal Registration Application 2024

There are some requirements to apply for a 1 million FG loan application, as listed by the Federal Government on its official website.

You should be aware that the only website for applying for FG Loan Portal Registration is https://loan.fedgrantandloan.gov.ng/, and the portal will be closing soon.

• FG 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 Standzing 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

Method of Application

Click Here to Apply