How To Apply For NYSC Business Loan (2020)

If you are a Corps member or an ex Corps member, NYSC can be your lucky ticket to get a loan from Central Bank of Nigeria, through Heritage Bank, in partnership with Youth Innovative Entrepreneurship Development Programme (YIEDP). In this post, we will show you how to apply for NYSC business loan for Nigerian youths.

One of the reasons CBN gives loans to youths is to help them start a business to be self employed and also create employment opportunities for other people around them. See list of all government free interest loans open to youths.

According to YIEDP, a youth can apply for a loan of up to N3 million, and a group of 3 – 5 persons can apply for a loan of up to N10 million.

The Eligibility For NYSC Loan

To be considered for this loan, you must the following requirements;

1. Applicant must be between the age bracket of 18 and 35 years,

2. Must be a serving Corps members, or

  1. Ex-Corps members (but not over 5 years after completion of NYSC),

  2. Must have a business idea.

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It is important to know that Heritage Bank has been chosen by the Central Bank of Nigeria to oversee YIEDP.

YIEDP is an innovative scheme aimed at harnessing the entrepreneurial skills among the teeming Nigerian youths by providing quick and affordable loans to help them implement their business ideas.

A single qualified applicant can get a loan of up to N3million, while a group of 3-5 qualified applicants can get up to N10million.

Business sectors eligible for the loan

For you to qualify for the loan, you must have a business or business ideas related in any of the following fields:

  • 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
  • Others
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Instructions

Nigerian youths who have served or are serving in NYSC can apply for the loan via online. If you are eligible to get this loan, then you need to adhere to the following Instructions:

  • All eligible applicants can apply for the programme through the official portal.
  • To apply for this online loan in Nigeria, use your NYSC State Code.
  • All applicants can make an individual loan request or as a group of 3-5 people
  • A single applicant can acess up to N3million, while a group of applicants can access up to N10million.
  • Applicants can submit only one business idea at a time.
  • All applicants can track their application process through the same portal.

Collateral for obtaining the loan

According to the request of the Heritage Bank NYSC loan scheme, all applicants must provide the following list of documents:

  1. Tertiary Institution Certificate,

  2. NYSC discharge certificate or pledge your discharge certificate if you are still serving,

  3. If you have a legal ownership of assets financed by other Bank, then you need to provide additional documents upon the request of the Heritage bank.

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Note: The application portal will be opened for a limited time period. You need not be registered with the Corporate Affairs Commission (CAC) before you can apply. All successful candidates will be guided through the application process.

How to apply for NYSC business loan

To apply for NYSC business loan, go to the official portal, register by filling online form, submit your application and wait for official review from the Heritage Bank. You will be contacted, and the money will be paid into your bank account if your application is approved. The whole registration process is free.

To apply for NYSC loan, go to the official portal at https://www.yiedp-hbng.com/ or check other Iinks below.

Updated: August 24, 2020 — 11:39 am

The Author

Humphery

Humphery is a seasoned internet entrepreneur and a life coach. He has been the Nyscinfo ambassador since 2017. He is knowledgeable enough to guide you. Keep following this website for updates, we love you!

197 Comments

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  1. I am into agro business. Please I the loan to expand my business.

  2. Please how do I access the loan

  3. Hello,I am a Fashion designer and am currently serving, I really need this loan to enable upgrade my sowing machines, and take my business to the nest level.

  4. Ogunbayeje Emmanuel

    Am into soap and cosmetic,I need guidance on how to apply for the loan

  5. Uzodinma Chidi Collins

    I need a loan,to enable me finance my paint production company. I passed out on March 2020.

  6. Is this LOAN real, if it is, nice one Fg. I deal with CARNEL, for the production of what we call groundnut oil, I need money raised the business

  7. Ujong uket stephen

    I am into buying and selling of goods please how can I apply for the NYSC loan to add to my little capital, I really need help financially. Am also a corper, am passing out october.

  8. Help business

  9. I am into poultry farming, I need financial support to invest more so that I can employ others

  10. I want implement the ideas gain in SAED training on cosmetology only the capital is the problem. How can I get the loan

  11. How can I apply?

  12. Please how can I get a job in ncc

    1. Sorry sir I have a business in Lagos and I want you to help me.

  13. Please I need this loan, I served in 2017/18 up till now I am still unemployed. Please how can I go about this loan?

  14. Pls I want to apply how will go about it . thanks

  15. I will be glad if I could get this loan to start a business

  16. Bashir Ali Abdullahi

    I am currently a farmer, farming rice and maize, I need the loan to expand my farm.
    Thank you.

  17. Shuaibu Umar Chikito

    Iam interested pls

  18. Machi Celestine Chizoba

    I would need the loan for agro business. Importantly this rainy season.

  19. The publisher of this news is a responsible fool. This is how u guyz confuse ppl, taken every single serious bizness for granted. How can u be joking with pple at dis critical tym wit a fake domain portal dt doesn’t exist. Zoo country with zoo mentality

  20. business

    1. Maku Abdullahi Ibrahim

      How do I go about the application pls

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