How to Apply for NYSC Business Loan (2024)

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Are you a Member of the National Youth Service Corps (NYSC) or ex member seeking a government loan to kickstart a business in Nigeria? If ‘yes’, this article provides you with the guide on how to apply for the NYSC business loan in Nigeria. Read on to discover the eligibility criteria, benefits, and the application process. You may also like to read how to apply for NYSC foundation loan in Nigeria.

What is NYSC Loan?

The NYSC business loan is a unique opportunity facilitated by the Central Bank of Nigeria and Heritage Bank, in collaboration with the Youth Innovative Entrepreneurship Development Programme (YIEDP). This initiative aims to empower graduates by providing financial support to start businesses, fostering self-employment, and creating job opportunities.

Eligibility Criteria

To qualify for the NYSC business loan, applicants must meet the following criteria:

  • Age bracket of 18 to 35 years.
  • Serving Corps members or ex-Corps members (within 5 years of post NYSC).
  • Must have a feasible business idea.

Loan Amounts and Categories

Individual applicants can access up to N3 million, while a group of 3-5 applicants can apply for a loan of up to N10 million.

Eligible Business Sectors

The loan is available for businesses or business ideas in various sectors, including Agro-allied, Technology (ICT), Automobile, Power & Energy, Film and Photography, Construction Support, Education and Financing, Food Processing, Information and Communication Technology (ICT), Manufacturing, Cottage Industry, and others.

Application Instructions

1. Apply through the official portal.

2. Use your NYSC State Code for the application.

3. Apply individually or as a group of 3-5 people.

4. Individual applicants can access up to N3 million, while groups can access up to N10 million.

5. Submit one business idea at a time.

6. Track your application process through the portal.

Collateral Requirements

Applicants must provide specific documents, including Tertiary Institution Certificate, NYSC discharge certificate, or a pledge if still serving, and additional documents if assets are financed by other banks.

Application Process

1. Visit the official portal: https://www.yiedp-hbng.com/

2. Register by filling out the online form.

3. Submit your application.

4. Await an official review from Heritage Bank.

5. Successful applicants will be contacted, and funds will be deposited into their bank accounts.

Conclusion

The NYSC business loan is a golden opportunity for young entrepreneurs to turn their business dreams into reality. Act now by visiting the official portal and applying for this transformative program.

Remember, the application process is free, and the portal will be open for a limited time. For more information, check out the NYSC Foundation Loan program. Seize the chance to kickstart your entrepreneurial journey.

258 thoughts on “How to Apply for NYSC Business Loan (2024)”

  4. Omolola Florence Bankole

    Dear Heritage Bank
    Thanks for this opportunity given to the youth across Nigeria. We do appreciate it a lot
    We will always abide to the rules of the loan

    After reading the whole explanation and eligibility, I come to realize that there is link in the page to access the loan application form in other to process the loan application online. This loan will go a long way to help us. There are business ideas but no capital to bring it up. I have a business I am doing but it is not as I want it to be because of lack of capital. We will love this if you can help us with the loan to build it up and you will not regret doing this favour for the corpers and the ex-corpers

    If a link can be provided for us to apply, then it will be a great work you’ve done

    I look forward to your response on this

    Thanks
    Kind regards

    Reply
  5. Kia Anita Uriji

    I need this loan as to expand my food vendor business I have started already while serving,am a serving corps member

    Reply
  7. Abba sani

    I’m serving corp member, please I need the loan in order to improve my business. I will be much grateful if my request is been considered, thank you.

    Reply
  8. Amos Faith

    I need the loan to improve my business iam a caterer and also I have a terminal in my shop already but my capital is not sufficient for my customers

    Reply
    1. Ekemini Edet

      My shout-out to you heritage bank for this opportunity given to the youths to start up or expand their business. I also need this loan to start up a pure water factoy. I have a piece of land in a very prominent position suitable for the business. How can I access your help?

      Reply

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