How to Apply for Presidential Conditional Grant Scheme (PCGS) 2023.

How to Apply for Presidential Conditional Grant Scheme (PCGS) 2023: As part of the Presidential Palliative Program, the Federal Government of Nigeria is pleased to announce the launch of the Presidential Conditional Loan and Grant Scheme to enterprises in Nigeria (including Nano enterprises).

The Federal Government will work with state governments, honorable ministers, NASME (Nigerian Association of Small and Medium Enterprises), senators, and members of the House of Representatives to shortlist beneficiaries from their constituents using the Federal Government’s selection criteria outlined below.

Beneficiaries include 70% women and youth, 10% people with impairments, and 5% senior citizens, with the remaining 15% going to other categories.

As part of the Presidential Palliative Program, the Federal Government of Nigeria is pleased to announce the launch of the Presidential Conditional Grant to Nano Businesses.

The grant amount is N50,000.00 (Fifty Thousand Naira) per beneficiary, with the goal of reaching one million micro enterprises in the 774 local government areas. The Federal Government will work with state governments, honorable ministers, NASME (Nigerian Association of Small and Medium Enterprises), senators, and members of the House of Representatives to shortlist beneficiaries from their constituents using the Federal Government’s selection criteria outlined below.

Beneficiaries include 70% women and youth, 10% people with impairments, and 5% senior citizens, with the remaining 15% going to other categories.

The Target Sectors for the Scheme

Below are the business that are eligible to apply to the scheme:

  • Traders: These include single retail marketers, corner shop owners, petty traders, market men and women in open markets.
  • Food Services: These include food and vegetable Vendors.
  • ICT: These include business centre operators, battery chargers, recharge card vendors, call centre agents
  • Transportation: These include wheelbarrow pushers, independent dispatch riders
  • Creatives: These include makeup artists, fashion designers, drycleaners.
  • Artisans: These include vulcanizers, shoemakers, painters, repairers.

Presidential Conditional Grant Scheme (PCGS) Eligibility Criteria

To be considered eligible for the Presidential Conditional Grant Scheme (PCGS), you must meet following criteria:

  • Own a nano Business.
  • Run a business with progressive economic potential and a drive to expand.
  • Be prepared to hire at least one more employee if turnover increases.
  • Be prepared to give proof of residential/commercial address in the Local Government Area.
  • Provide pertinent personal and bank account information, including Bank Verification (BVN) for identification verification.
  • Meet the application deadline.

Presidential Conditional Grant Scheme Loan Eligibility Requirements

For those that are opting for the Loan aspect of the Presidential Conditional Grant Scheme, this is for them. Business and companies can actually get up to a million and a billion naira. Below are the requirements to be eligible for the loan:

  1. A loan of up to $1 million
  2. A) Eligibility Criteria
  • Existing businesses must have been in operation for one (1) year, and new businesses must be registered.
  • Please include CAC business registration documentation.
  • Company’s bank statement(s) for the previous year (for existing businesses)/ Chief Promoter’s (Director or Business Owner) bank statement(s) for the previous year (for startups).
  • Have the required monthly turnover and any other items asked by the bank.
  1. B) The promoter’s personal security guarantee
  • Acceptance of the BVN Covenant (Global Standing Instruction- GSI), as well as any other items requested by the bank
  1. C) Repayment Period
  • Monthly equal installments (no moratorium) for three years
  1. Manufacturers with a working capital or asset financing of up to N1 billion
  2. A) Eligibility Requirements
  • 6 months of business/corporate banking connection
  • Please include CAC business registration documentation.
  • Bank statements for the previous 12 months
  • Other documentation that the bank may demand.
  1. B) Security
  • As may be required by the bank
  1. C) Repayment term:
  2. i) Asset Financing
  • 6 Months moratorium on principal and interest, 5 years repayment period for asset financing only
  1. ii) Working Capital Financing
  • 12months equal installment of principal and interest

 

How to Apply

To apply for the Presidential Conditional Grant Scheme (PCGS) Beneficiaries 2023, follow the instructions below.

Step one: Head over to http://www.fedgrantandloan.gov.ng/.

Step Two: Once you are on the portal, there are two categories, i.e. the grant and the loan. The grant is for those seeking to collect the N50000 for small business. On the other hand, the loan is for those seeking to collect up to a million naira and must have a business registered with CAC.

Step three: Click on either of this links to apply for either the grant or the loan: https://grant.fedgrantandloan.gov.ng/ or https://loan.fedgrantandloan.gov.ng/.

Step four: To Apply for the Grant click on this link https://grant.fedgrantandloan.gov.ng/apply. To apply for the loan, click on this link https://loan.fedgrantandloan.gov.ng/auth/loan-register.

How to Check Presidential Conditional Grant Scheme (PCGS) Beneficiaries 2023

Did you apply and you want to check if you are amongst the beneficiaries. To check the List of Beneficiaries for the Presidential Conditional Grant Scheme (PCGS),  Click this link here https://grant.fedgrantandloan.gov.ng/learn-more/disbursement.

See Also:

Conclusion

You have been shown the steps to apply for the Presidential Conditional Grant, Loan Scheme and Palliative program for financial growth. If you follow the steps laid out in this article, you will get the grant or loan. Goodluck in your financial endeavor. Please remember to share this article and also give us a follow on Facebook for more update at DPFILES.

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