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.
Sir I want that loan, I want to start my business, my business is technology. Gaskiya if I get that loan I will gland. Of you sir
I need this loan.because I want it seriously to improve my business
Please i wànt the government to help me with loan to start up a business for my self
Sir I am into shoes and bags making I need a loan to burst my business thank you
Good morning Sir. I’m really interested because I have knowledge on the Block industry which I have doing right now, but I need more capital to grow up, now I have everything and I producing the best, why I need more because of the price of the material now in this country, before Cement is 1700, per bag now is #3500, while Gas is #275, per liter, through these issue were not be able to improve the business. I’m a serving Corp member
I really need this loan, I’ve been trying to apply for it but to no avail. No body around me seems to have any idea on it please help me out
Good day. Please I will be so glad if I can get an opportunity to have this and start up my business. I have so much interest in venturing into Agriculture and I have a piece of land which is just money to grow it up that is delaying me. Please kindly help me to out in getting this loan. Thanks
I’m an ex corps member I want to go into selling Pheng materials and ceramics tiles, marbles etc.,so I need the sum of N3m to run the business it’s a very lucrative business and the location is an area where there is no competition. I will be the only one selling in the district not too far from the Yenagoa metropolis.
Please I need this loan to start a business
I am a serving corps member. I do buy cow and sell as well rearing business so i need this loan.
I was really interested to have the opportunity to receive the loan so I can improve my own business,so I can became self dependent and with time I can employed other, please sir I am really interested, I am praying get this great opportunity, thank
I really need dis loan to improve on my agro allied business.thanks in anticipation
The site isn’t responding for long
Good morning, sir.
Please I need the loan to improve my business. I will be happy if I get it.
I promise I will pay back.
Thank you sir, for accepting my request.
Since I was true with nysc no job,please favor me to get the loan
I need a loan to expand my business pls
I really need this loan so that I can start a business and I have the idea
I need a loan to start up a business I have a business plan already please you help with a loan
I really need this loan to start up my business. The website provided above is not going through.
Am in need of the loan to expand my existing business
Please I need this loan
I really need this loan.
I will be so glad if the loan is true,am into raw food business and also a serving corps member presently I tried to access the link but not accessible
I will be grateful if federal government can be able to prove this opportunity to we the youth to be true