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)”

  2. Ohia Roseline Kelechi

    I have a business plan and I need money to fund it, I really need d loan plz tnx

  4. Adeyanju Rafiat Adebimpe

    Please…i need a full details on how to apply for this loan.. I just finished my nysc and I need a loan to start up my business

  5. Obot Etini Victor

    Please am looking for a way and how to apply this loan now and I wan to know the exactly time they will star the application, also pls I really wan u to inform me on time through DM, nums 07066107160 that is my nums ,I have a business idea and business plan sir as well u can sent me ur center pls so we can talk on phone.

  6. Oladipo Najeem Abimbola

    Thanks for the information, I pray to be among the chosen ones.

  8. Nwafor Sopuruchi

    Thank you very much, sir. From your post, you said serving Corp members can as well access the loan. Secondly, you added discharge later as part of the requirements. My question now is how can a serving Corp member who has not completed his service year get a discharge later?

    1. Humphery

      You will pledge your discharge certificate, so that immediately you complete your service, your discharge certificate will be transferred to the bank by NYSC.

      1. Obot Etini Victor

        Please am looking for a way and how to apply this loan now and I wan to know the exactly time they will star the application, also pls I really wan u to inform me on time through DM, nums 07066107160 that is my nums ,I have a business idea and business plan sir as well u can sent me ur center pls so we can talk on phone.

  9. Abdul-Azeez Zainab

    Please, what are the steps and guidelines to follow in order to get the business loan?

  11. Jeremere Emmanuel

    How do I get the loan.what and what is needed for the loan.so that we can applied.

  12. Odono

    The website for the loan application is not opening or has the application not yet started

  16. Iyere Osarhumhese Deborah

    Can I be given a machine loan for my business, just one machine left.how will I go about it

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