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Discover How to Secure Federal Government Loans for Small Businesses in Nigeria | Learn about the Guaranteed Off-take Stimulus Scheme (GoS) and General MSME Grant Programs to Boost Your Business

The Nigerian Federal Government is actively trying to lessen the effects of poverty in the country.

They have put in place different loan programs for households and small businesses in the country.

In this guide, we will show you how to get loans from the federal government for small businesses.

Before that, you can fill out the Covid19 loan support form.

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To help small businesses affected by Covid19, the Nigerian government introduced two main loan support programs: the Guaranteed Off-take Stimulus Scheme (GoS) and the General MSME Grant. In this guide, we will explain these loan schemes and how you can access them.

The Guaranteed Off-take Stimulus Scheme

GoS was created to protect and support medium and small businesses.

As the name suggests, it’s designed to assist these types of enterprises. Only 100,000 small and medium businesses will receive help through this grant program.

The states that will benefit from this grant are:

  • Lagos – 3,880
  • Kano – 3,280
  • Abia – 3,080
  • Other States (Each) – 2,640

Requirements to apply for the Guaranteed Off-take Stimulus Scheme (GoS):

  • You must be a Nigerian citizen.
  • Your business must be registered with the Corporate Affairs Commission (CAC).
  • Applicants must have a Bank Verification Number (BVN) and a bank account.
  • You must have at least two employees.
  • Applicants must ensure their products meet the standards of NAFDAC and SON.

To apply for this support, visit www.survivalfund.gov.ng

General MSME Grant

This program offers business owners a grant of up to N50,000 to enhance their businesses. However, only 100,000 individuals throughout the country will receive this grant.

Requirements to qualify for General MSME support:

  • Applicants must be Nigerian citizens.
  • They must have a business registered with the Corporate Affairs Commission (CAC).
  • Applicants must possess a BVN and a bank account.

States that will benefit from the grant are:

  • Lagos – 3,880
  • Kano – 3,280
  • Abia – 3,080
  • Other States (Each) – 2,640

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