Finance
How to Apply for NYSC Business Loan (2024)
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.
Nimmak nanlir venvong
November 11, 2023 at 12:29
I am serving, need to load to start business
Jesuje love
November 6, 2023 at 14:15
I need the loan to boost my business
Ogonye ochola john
September 24, 2023 at 14:44
Am a servings corps member I need a load to setup a business pls help me
Omolola Florence Bankole
September 14, 2023 at 10:36
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
Kia Anita Uriji
September 5, 2023 at 19:59
I need this loan as to expand my food vendor business I have started already while serving,am a serving corps member
Adeola Jose
August 30, 2023 at 10:36
Please I need nysc Whatsapp group for grants, loans, job opportunities…
070630131290
Abba sani
August 1, 2023 at 15:27
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.
Amos Faith
July 22, 2023 at 15:23
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
Wachukwu, Michael Chigozie
July 18, 2023 at 20:10
I need this loan to improve my business
Onalo Achonu
February 8, 2023 at 13:06
I’m a serving corp member I need a loan to start farming. I want to train ram, goat and turkey if they will give me enough money
Akinwunmi Oluseyifunmi
July 10, 2022 at 21:14
I need this loan in other to improve my Business.
Ekemini Edet
September 17, 2023 at 02:17
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?
Yusuf saidu Abdullahi
April 25, 2022 at 00:56
I need this loan in other to improve my business and to be self-reliant
Jabir Ahmad khalid
June 26, 2022 at 18:03
I need this loan in other improve my business and to be self-reliant