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. Abdullahi Danbala

    Iam Abdullahi Danbala,a graduate of English education from Abu Zaria.please notify me when it kick off

  5. Amusa Abosede

    My name is amusa abosede comfort a graduate of ekiti state university, study pure science, am intrested for the loan

  7. Ajomole Tomisin

    Pls,notify me when the application is on. I’m interested in the loan. Thanks in anticipation.

  8. TEMIYEMI BANKOLE

    What’s the interest rate?
    Moratorium period?
    I recently got a loan from CBN through NIRSAL MICROFINANCE BANK

  9. Tsado Idris

    Hi, my name is TSADO IDRIS I graduated from Ibrahim Badamasi Babangida University Lapai, I studied geography. Iam correctly serving in Kaduna State,Iam also interested on the loan to establish a block industry I have been working with them for 6 years now.

  11. Folorunso Bayode

    Folorunso Bayode

    I am a graduate of Rufus Giwa Polytechnic Owo,am interested in the loan please link me up when it's about to start.

  13. ndukwe Samuel chigboo

    Am Ndukwe Samuel chigboromkpa.a graduate of Applied physics of Michael okpara university of Agriculture umudike….am so much interested In the loan…

  14. Yusuf Animasahun

    Am a graduate of Pure Chemistry from Usmanu Danfodiyo University Sokoto.Am highly interested in this patnership Loan and presently serving in Ogun State a batch C corps members.

  15. Adegoke Adewunmi

    Good afternoon, my name is Adegoke Adewunmi. I am a graduate of kwara state polytechnic, I studied purchasing and supply. I am presently serving in Taraba state. Am interested in requesting for loan.

    Kindly notify me when the site is on. Thanks in anticipation..

    1. Bukola

      Hi
      Please have you been able to get the loan from anywhere? I’m also in need of a loan.. I’m presently serving in osun state

    2. Abdul Waris

      Adegoke Adewunmi i also study purchasing and supply and i finish in Kwara state polytechnic toooo.. Message me on WhatsApp pls 08121104169

  16. Nura Hassan Adam

    Good day Sir. Sir the side is no longer going.I want know weather you closed it for now or not.thank you for given us the opportunity Sir. Have a nice day ahead

  18. ikedinwa chisom victory

    Am a graduate of Delta state university abraka, I studied integrated science education, am a photographer, I need to loan to enhance my photography business. My Business name is BEE2PHOTOGRAPHY.

    1. Ogunleye oluwatobi

      Am a graduate of Ekiti state university. Am interested in this loan, please notify me when it start.

  20. Dantata Andrawus

    I’m a graduate of accounting from Fed Poly Bauchi, I’m interested for the loan. please inform me with any latest. thanks sir.

    1. Dan

      Pls we are desperately in need of the loan as there’s no job after serving our dear country. Is the site closed or changed. Pls kindly let us know. I am done with service as I served in Edo State.

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