The Nigerian Consumer Credit Corporation (CREDICORP), a Development Finance Institution (DFI) established by the Federal Government of Nigeria, has launched a national credit initiative targeting market women and micro-business owners operating within the informal sector.
Through a strategic partnership with Sytiamo Technologies, CREDICORP aims to improve credit access for eligible individuals across all 36 states and the Federal Capital Territory (FCT).
Programme Overview
- Loan Type: Inventory/Working Capital
- Target Group: Market women and informal business operators
- Interest Rate: 2% monthly
- Collateral Requirement: None
- Disbursement Period: Within 24–48 hours of approval
- Coverage: Nationwide
The credit is accessible without the need for collateral, and applications are processed through approved financial institutions.
Application Process
Step 1: Explore Credit Options
Review the credit categories available through participating financial institutions.
Step 2: Select a Financial Institution (PFI)
Choose a PFI from the CREDICORP-approved list based on your preference and business needs.
Step 3: Submit Loan Application
Apply directly via the selected institution’s digital or in-branch platform.
Step 4: Receive Disbursement
Once approved, the loan is disbursed to the applicant’s bank account or wallet.
Additional Notes
- This programme is open to individuals who meet the eligibility criteria as outlined on the CREDICORP platform.
- All disbursements and conditions are subject to verification and the terms of the participating financial institutions.
- Applicants are advised to read and understand the loan conditions before submitting an application.
