How To Apply For NYSC Business Loan (2021)

Are you a Corps member or an ex Corps member looking for a loan to start up a business? If yes, then you are in the right place. Here we will show you how to apply for NYSC business loan as a corps member or ex Corps member.

The National Youth Service Corps (NYSC) can be your lucky ticket to get a loan from Central Bank of Nigeria (CBN), through Heritage Bank, in partnership with Youth Innovative Entrepreneurship Development Programme (YIEDP).

One of the reasons CBN gives loans to youths is to help them start a business to be self employed and also create employment opportunities for other people around them.

Just before we continue, you can also check out the list of federal government free interest loans that are open to youths.

According to YIEDP, a youth can apply for a loan of up to N3 million, and a group of 3 – 5 persons can apply for a loan of up to N10 million.

The Eligibility For NYSC Loan

To be considered for this loan, you must meet the following requirements;

  • Applicants must be between the age bracket of 18 and 35 years,
  • Must be a serving Corps members, or ex-Corps members (but not over 5 years after completion of NYSC),
  • Must have a business idea.
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It is important to know that Heritage Bank has been chosen by the Central Bank of Nigeria to oversee YIEDP.

YIEDP is an innovative scheme aimed at harnessing the entrepreneurial skills among the teeming Nigerian youths by providing quick and affordable loans to help them implement their business ideas.

Like said earlier, a single qualified applicant can get a loan of up to N3million, while a group of 3-5 qualified applicants can get up to N10million.

Business sectors eligible for the loan

For you to qualify for the loan, you must have a business or business ideas related in any of the following fields:

  • 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
  • Others
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Instructions

Nigerian youths who have served or are serving in NYSC can apply for the loan via online. If you are eligible to get this loan, then you need to adhere to the following Instructions:

  • All eligible applicants can apply for the programme through the official portal.
  • To apply for this online loan in Nigeria, use your NYSC State Code.
  • All applicants can make an individual loan request or as a group of 3-5 people
  • A single applicant can acess up to N3million, while a group of applicants can access up to N10million.
  • Applicants can submit only one business idea at a time.
  • All applicants can track their application process through the same portal.

Collateral for obtaining the loan

According to the request of the Heritage Bank NYSC loan scheme, all applicants must provide the following list of documents:

  1. Tertiary Institution Certificate,

  2. NYSC discharge certificate or pledge your discharge certificate if you are still serving,

  3. If you have a legal ownership of assets financed by other Bank, then you need to provide additional documents upon the request of the Heritage bank.

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Note: The application portal will be opened for a limited time period. You need not be registered with the Corporate Affairs Commission (CAC) before you can apply. All successful candidates will be guided through the application process.

How to apply for NYSC business loan

To apply for the NYSC business loan, go to the official portal, register by filling online form, submit your application and wait for official review from the Heritage Bank. You will be contacted, and the money will be paid into your bank account if your application is approved. The whole registration process is free.

The official portal to visit is https://www.yiedp-hbng.com/ or check other Iinks below.

Updated: November 30, 2020 — 8:40 am

216 Comments

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  1. please I need a loan how can I apply

    1. Please I need loan to build my business and I pass out 2020

  2. I need too

  3. I passed out last year and am interested in the loan pls how can I apply

  4. I learnt a trade after my NYSC last year, a building material business but start up capital is now my challenges how do I apply for the NYSC loan

  5. We have a fish farm, the problem now is that I need my own farm for myself. Pls help me

  6. Abubakar Musa Mohammed

    I have applied for atleast 20 FG different loans or so, but I didn’t get anyone.

  7. Just I want to

  8. How can I apply

  9. Dis ple r just deceiving d youth, dey dnt av any money to lend out but dey av d money to be embezzle by dem self.
    Scatter Nigeria…..ish

  10. Dis ple r just deceiving d youths, dey dnt av money to lend d out, but dey av d money to be embezzle by demself….ishhh

  11. Am a fermer ineed money to promoto my business

  12. I’m seriously in need of the loan any help please

  13. How can I apply

  14. How do I apply for loan pls?

  15. I need a loan for federal government

  16. How do I access the loan. The site is not working

  17. I am into agro business. Please I the loan to expand my business.

  18. Please how do I access the loan

  19. Hello,I am a Fashion designer and am currently serving, I really need this loan to enable upgrade my sowing machines, and take my business to the nest level.

  20. Ogunbayeje Emmanuel

    Am into soap and cosmetic,I need guidance on how to apply for the loan

  21. Uzodinma Chidi Collins

    I need a loan,to enable me finance my paint production company. I passed out on March 2020.

  22. Is this LOAN real, if it is, nice one Fg. I deal with CARNEL, for the production of what we call groundnut oil, I need money raised the business

  23. Ujong uket stephen

    I am into buying and selling of goods please how can I apply for the NYSC loan to add to my little capital, I really need help financially. Am also a corper, am passing out october.

  24. Help business

  25. I am into poultry farming, I need financial support to invest more so that I can employ others

  26. I want implement the ideas gain in SAED training on cosmetology only the capital is the problem. How can I get the loan

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