How to Apply for Trader Moni Loan + USSD Code

In 2016, the Trader Moni Loan was launched as a channel for providing loans to Nigerians. Under this scheme, eligible applicants can access interest-free loans. As these small business owners repay the money, the program allows them to borrow more cash.

Before you can get a loan from this platform, you will need to meet some conditions. But if you don’t have the right knowledge, you might not access the loan. Now here is everything that you will need to know about the Trader Moni Scheme.


What is Trader Moni?

The Trader Moni program is a scheme for providing non-interest and non-collateral loans to Nigerian petty traders and artisans. With this platform, applicants can apply for loans as low as N10,000. Normally, these loans should be paid back within six months of collection.

If they repay the first sum borrowed, these businesses will become eligible for N15, 000. Upon the next repayment, they can request N 20,000 and N50,000 loans. After repaying the money borrowed, the applicants will qualify for N100,000 loans.

Trader Moni Loan Requirements

To get the Trader Moni Loan, you will have to meet the following conditions:

  • You should be 18 and above.
  • You should be a Nigerian.
  • You should trade and own a small business.
  • You should have a valid means of identification e.g ID cards.
  • You should have a registered mobile number.
  • You should be a member of a recognized market cooperative society in your area.

How to Register or Apply for Trader Moni Loan

If you want to apply for the Trader Moni loan, you can use three channels – through an agent, USSD codes, and website. Now let’s show you how to get your loans from Trader Moni by using these options.

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How to Apply Online

  1. Visit the
  2. Head to the ” Apply for Loan Now” button
  3. Click on the “Register Here” tab
  4. Input the required details such as name, phone number, and email.
  5. Check your email for the tracking code and verification link.
  6. Click on the verification link to return the application form.
  7. Continue the application, save and hit the “Continue” tab
  8. You will receive an email that shows that you have successfully sent the application. With this message, you will also receive details about the next step that you should take during the application process.

How to Apply with Trader Moni Agent

  1. Visit the nearest Trader Moni agent at your location
  2. Allow your details to be captured by the agent
  3. You will receive a code that you will use to apply for the loan.
  4. Wait to receive a message showing the transfer of funds to your mobile wallet account.
  5. Withdraw the cash by moving it to your bank account.

How to Apply with USSD Code

Before using this method, ensure that you can use a Glo or Etisalat sim. Now use the following steps to apply for the loan.

  1. Dial *4255*21# on your mobile device
  2. Set up your 6-digit code
  3. Choose your preferred business name
  4. Press 4 to submit your application

How to Repay

If you want to repay the loan, you will have to use the following banks:

  • Wema Bank
  • Guaranty Trust Bank
  • UBA
  • Sterling Bank
  • Heritage Bank
  • Jaiz Bank
  • Fidelity Bank
  • Union Bank

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