Latest GEEP 2.0 Loan Disbursement Update | Today’s News May 7th, 2022
In today’s latest GEEP 2.0 loan disbursement news, we’ll tell you what you may expect from the GEEP loan in the next coming days.
Recall how we told you a few weeks ago that FG Engages 98000 Beneficiaries For GEEP Loan 2.0 Program? The federal government is collaborating with Access Bank to implement GEEP 2.0, the Government Enterprise and Empowerment Business Program, in all 36 states and the Federal Capital Territory.
What to Expect Before GEEP 2.0 Payments Start
- The Ministry of Humanitarian Affairs is planning a nationwide rollout of the initiative, followed by an identification effort to collect participants’ biodata.
- After being fully identified, all qualified beneficiaries will quickly accept their dispensing cautions.
- GEEP is a loan with no interest that must be paid back within 9 months.
- Special records will be opened for all beneficiaries for the payment of the credit as part of the Government Enterprise and Empowerment Business Program GEEP 2.0 loan.
- Prior to disbursement, all beneficiaries must complete an actual count at their local government and an Access Bank record opening type.
- Successful GEEP 2.0 participants will receive complimentarily and sharpening instant messages informing them of their capability and reiterating that the strengthening program is a credit, not a grant.
Under its three lead plans: MarketMoni, TraderMoni, and FarmerMoni, the Federal Government intends to provide monetary consideration and credit access to poor and vulnerable people, including people with disabilities and people at the bottom of the financial pyramid who are engaged in limited-scope business activities.