The Kogi Enterprise Development Agency (KEDA), in partnership with Jaiz Bank in Lokoja, has opened applications for its new loan scheme to support business owners across Kogi State. The programme offers financial assistance ranging from ₦100,000 to ₦5,000,000, aimed at boosting entrepreneurship and driving economic growth by making loans accessible to both registered and unregistered enterprises.
According to KEDA, the initiative responds to the challenges faced by small and medium businesses in accessing funds needed for expansion. The scheme is designed specifically for entrepreneurs in the state and comes with an annual interest rate between 15 and 17 percent.
There are no processing fees and applicants only need to provide self guarantee.
The loan is available under two categories. Category A offers between ₦100,000 and ₦500,000 and requires only a National Identification Number and Bank Verification Number. Category B provides between ₦1,000,000 and ₦5,000,000 and requires Corporate Affairs Commission registration, National Identification Number, and Bank Verification Number.
To apply, interested business owners are required to visit KEDA’s office at No. 26, Federal University Road, Lokoja, to meet the desk officer for guidance and processing.
