Are you a Corps member or Ex member of the National Youth Service Corps (NYSC)? Are you looking for a loan to start up a business? If ‘yes’, stay calm as we walk you through the Central Bank of Nigeria (CBN) loan opportunities for Corpers. Here we will guide you on how to get the CBN loan for Corpers.
You may also like to apply for Nigeria Youth Investment Fund (NYIF) scheme which is meant for all business oriented young Nigerians between the age of 30 and 35 years.
Over the years, the Central Bank of Nigeria (CBN) and other institutions provide soft loans to assist Nigerian youths. One interesting thing about the CBN loans is that the interest rate is very low. Also check out where to get lowest loan interest rates in Nigeria.
However, corpers and ex-Corpers can use National Youth Service Corps (NYSC) as a cover to get this CBN loan. So, we will look at the CBN available loans for Corpers this year.
Recall that CBN recently announced plans to offer loans to NYSC members to start up business.
The CBN Governor, Godwin Emefiele is making arrangement to start giving loans to corps members. According to the CBN Governor, the loan will be repaid in 7 years.
Below is what Bashir Ahmad, media aide to President Muhammadu wrote on his official Twitter handle.
“The CBN Governor discloses that the Bank has completed arrangements to offer loans to NYSC members to commence small and medium scale enterprises.
“The loan which is conceived out of the need to reduce unemployment rate in the country will be repaid in 7 years.”
Eligibility
Below are categories of people who are eligible to apply for CBN loan for Corpers:
- Applicants must be between the age of 18 and 35 years.
- Must be a Corps member, or ex-Corps members but not more than 5 years of post NYSC.
- You must have a business idea in any of the following sectors:
- Agriculture
- Information & Communication Technology, ICT
- Automobile
- Power & Energy
- Film and Photography
- Food Processing,
- Manufacturing
- Cottage Industry, and others.
How to apply for CBN loan for Corpers
Are you a serving corps member or ex-corper member? Do you have a business idea that you need money to execute? If yes, then can apply for CBN loan.
To apply CIick Here to see guideline on how to submit your application. Congratulations in advance!
I’m interested for the loan sir, because I have done a one year post camp Granduat, that means SAED,in NYSC camp please I need you help sir, how to get the loan
I’m looking for a link to apply
Check How To Apply For NYSC Business Loan (2023)
Pls sir am done with my service and I wish to take up my business again that was broke down by covid-19 pandemic, pls sir how do I get the load because am much interested an am a young man filled with alot of potential but no finance to utilize them.
currently serving and highly interested in the loan, how do I access it.