Moniepoint offers business loans to eligible Nigerian business owners, including traders and small business owners who use Moniepoint POS to collect payments from customers. The loan is to help these MSMEs business owners buy more goods, restock their shops and pay other business expenses.
Whether you sell food in the market, own a provision shop, sell clothes, run a small business or sell goods by the roadside, you may qualify if you use Moniepoint Business services and meet the loan requirements.
Moniepoint’s official website lists working capital loans starting from ₦1 million. However, this does not mean every POS operator will receive ₦1 million. The amount available depends on your business profile and eligibility. You should check your Moniepoint Business account to see whether a loan offer is available to you.
To qualify, applicants need to have an active Moniepoint Business account that has been in use for at least six weeks, with regular business transactions. According to the report, simply owning a Moniepoint POS terminal does not guarantee loan approval.
Moniepoint says applicants do not need to submit extra documents unless their business verification fails. If further verification is required, you may be asked to provide a Corporate Affairs Commission (CAC) document or shop rent receipt.
How to Apply
To apply for a Moniepoint business loan, log in to your Moniepoint Business app or web dashboard. Tap the Loan icon, select an available loan product and follow the instructions. If you qualify, you can review the loan amount, interest rate and repayment period before accepting the offer.
The repayment period and interest rate depend on the loan product and the offer available to you. Before accepting a loan, check the total amount you will repay and confirm that your business can afford the repayments.
Business owners can read the official loan information and check the application process on Moniepoint’s website:
https://moniepoint.com/ng/business/working-capital-loans.
More information about eligibility and required documents is available through the Moniepoint Support Centre.
If you are a market trader, shop owner or small business operator who uses Moniepoint, check your account to see whether you qualify. Loan approval and the amount offered are subject to Moniepoint’s requirements and assessment.