A federal program called NG Cares aims to assist Nigerians who were impacted by the Corona outbreak in 2020 to bounce back on their feet. National Covid-19 Action Recovery & Economic Stimulus, also known as NG Cares, provides financial aid to companies to support their expansion.
The COVID-19 epidemic caused enormous hardship, and the Federal Government responded by launching this plan. Additionally, it fits into the Federal Government’s vision for Nigeria. Within ten years, they want to help at least 100 million Nigerians escape poverty.
The Federal Government has taken a big step to assist businesses impacted by the pandemic through the NG Cares financing program. Financial aid is provided through the program, making it simpler for firms to recover and expand. Businesses can easily apply for the loan because of the program’s clear qualifying requirements and straightforward application process.
Nigerian businesses, among many others, were impacted by the global pandemic of 2020. The federal government established the NG Cares loan program to provide assistance and relief.
To that development, we have detailed everything you need to know about NG Cares and how to quickly apply for their loan offering if you’re a business owner in need of financial support for your operations. This program is meant for Nigerians to utilize the full potential of its company and accelerate its growth through NG Cares, the Federal Government’s creative response to aid in the COVID-19 pandemic’s aftermath.
How to become eligible for the NG Cares Loan
Businesses that apply for assistance under the NG Cares program must adhere to specific requirements, one of which is the number of employees. Small firms are required to have at least 10 employees, whereas microbusinesses must have at least three.
The documentation needed to apply for a loan
A number of documents are needed to apply for the NG Cares loan, including:
- BVN printout for verification with a bank stamp
- Evidence of business activity, such as a bank statement or cash book
- CAC registration for businesses or TIN
- Identification that is legal (driver’s license, voter’s card, NIN)
- Voter’s card or a recent utility bill as proof of residence
The NG Cares Loan Application Process: A Step-by-Step Guide
You have two options for applying for the loan: online or through local authorities.
- The official website is available at https://www.ngcaresbusiness.org/.
- Choose the state where your company is located and then click “Go To Portal.”
- When you sign up on the platform, the program will check your eligibility. If successful, they’ll get in touch with you.
You can also apply through one of your community leaders. The following people have received application forms from the federal government:
- Employees of NG CARES.
- Chairman of the local CDC.
- Youth Council president.
- Female community leaders.
If you decide against registering online, you may simply visit one of them and pick up your loan application form.
The Federal Government has issued this loan package through the NG Cares lending initiative for businesses that were impacted by the pandemic. Simply follow the simple steps above to apply for this loan package. This lending program is a welcome one and demonstrates the Nigerian government’s concern for its people.