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)”

  1. Alhaji jaudo Bose

    My name is Alhaji jaudo Bose I’m graduated of management information technology I hope I get this loan I want to establish my business I’m a international business man. I supplying Gypsum from yobe state to Sokoto cement please I need you help me about my business I’m proud of business more than anything thanks. My number 07033361465 / 07067769976

  2. Mohammed Aliyu

    Please I am interested in this loan_____How should I go about it.
    Can’t access the portal.

  3. Edor

    I started reading about serving corpers / Ex-corpers CBN loan scheme before going for NYSC but till now yiedp-hbng.com/ is still not responding or should i just go to Heritage bank and make enquiry (ies)..
    God help us because i/most of us need the loan to start something real and profitable.

  5. Mabinuori Babatunde

    I tried checking the link, it’s not going through. I need the loan, kindly update me on the process of registration.

    1. kamaldeen Abiodun

      Please I need a loan to esterblish a lucrative business in the field of agro allied my phone no: 08135298039

  13. UDOAKA M. GEORGE

    Hi, I have a business idea and I enquired from CBN for details about the loan, before applied for the said Loan since August yet nothing has been done. The loan is it real?

  14. Ismail Aliyu

    I am currently serving coper at kano state and I am interested for the loan, and I have the knowledge of computer/Agricultural how do I do pls?

  15. Idjedine Oghenero freedom

    I’m currently a serving Corps member in Nasarawa state. I’m interested in this loan and will want to be a beneficiary.I have good knowledge in agriculture and transportation which I’ll like to invest into if given the opportunity. But I can’t access the site now. http:www.yiedp-hbng
    com/
    What do I do?

  17. Maryam Ibrahim magayaki

    My name is Maryam Ibrahim magayaki,am from Niger state,I schooled at Maryam abacha University Niger republic,l hope I get this loan,I want to establish my catering work and saleing of hand bags and shoes,so I can help my family and also those whom want to learn hand work.this is my number 08069405283

  19. Abiodun Oluwamuyiwa Samuel

    Hi sir,thanks for the information,but the website link to the loan application seems not correct as it diesel open in the browser,maybe you may please update thanks

  20. Evangeline

    My name is okoli Evangeline chiamaka, am from anambra state, I schooled at Niger state polytechnic zungerun bida,I hope I get this loan, I want to established my catering work and make up, so I can help my family and also those who want to learn hand work.this is my number 08120294801

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