We have seen a lot of questions regarding the FG Grant And Loan Scheme Payment Date. So we decided to create this post to give you insight.
The frequently asked questions FAQ section of the FG Grant And Loan portal, tries to answer all these questions and the question on how long it will take from when an applicant applies to when he will get the grant or the loan.
According to the answer in the portal, the payment is dependent on your bank, however, it is typically expected to take 2 weeks. Disbursement will be done by your bank if you meet the eligibility criteria.
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Applicants should also note that payment might depend on the application deadline. So it is necessary to stay informed with the latest updates from the loan management.
How do I know the status of my application: Applicants of the FG Loan Scheme can check the status of their application by logging into your profile. Once your application has been forwarded to your bank for processing, you should follow up with your bank for updates.
The grant sum is N50,000.00 (Fifty Thousand Naira) per beneficiary, and it is designed to reach one million nano businesses in the 774 local government areas. The target beneficiaries are 70% women and youth, 10% people with disabilities, and 5% senior citizens, while the remaining 15% is distributed to other demographics.
Manufacturers get up to N1billion (Working Capital or Asset Financing).
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