The State Enterprise and Empowerment Programme is a social intervention program designed to provide affordable credit ranging between N50,000.00 to N100,000.00 for micro-enterprises that are unable to grow their businesses due to lack of capital. The programme aims to support a maximum of 40,000 qualified micro-enterprises per state in Nigeria.
You can apply through https://www.growthplatform.me/seep.html
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The program is executed by each state contributing a part of their state-managed funds with matching funds from the Bank of Industry.
The programme targets eligible enterprising youth, artisans, traders, market women and other sectors of productive activity who are nominated by their various Associations, Cooperatives and Trade-Groups within the respective states in the BOI Matching Fund Programme.
Qualified micro-enterprises will be able to access a minimum of N50,000.00 and a maximum of N100,000.00. The program is executed in each state using the BOI Micro Loan technology platform and systems which have been used to deliver large programs like the Government Enterprise and Empowerment Programme (GEEP).
Qualifying micro-enterprises benefit from a one-month moratorium and are able to repay their loans over a maximum of 1 year. Approved loans are disbursed directly into micro-enterprises accounts with BVN serving as digital collateral. Loan repayments are made on a weekly basis through a designated repayment channel.