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. Emmanuel Chima

    I guess the loan site is c!osed, cause I’ve been trying to access it but it’s been futile

  2. BAYO

    Please will like to know the correct site/portal for application because the one (domain) provided in this publication is for sale.

    thanks.

  3. Oweks

    Please can someone give us the accurate strategies to apply for this said loan

  6. Rilwanu

    I’m corper member now idow my servece I so more happy this loan,if I penish my servece I start pultry business in my area have you get shi loan.

    1. Eshiet

      Is the loan accessible now if yes please let me know in other not fall into fraudsters I really need this loan

  7. Belema

    Please is the loan still on if yes how can i apply because i tried opening it but its not opening

  8. Mgbom uchenna Benard

    My name is mgbom uchenna Benard served at akwa ibom please I seriously need need this loan to start foodstuffs business and transportation business 08136021441,08106006122

  13. Nwankpa enyinnaya sunny

    Please where can i see the procedures for applying for the loan, as you said that you have shown us how to apply before? Best regards

  14. Nwankpa Enyinnaya Sunny

    please when will this application start and the application website. Am into agro-allied

  15. Chiebuka

    What’s the commencement date for the loan application? Secondly, when is the deadline for the loan application? Let’s I forget, please what’s the link or website for registration? Thank you as I humbly wait for your response.

  17. Ojabuno Efegomah

    I really do need a loan….am into production of liquid soap …hypo…etc

  18. Adamu Jibrin

    For North East indigenious corpers; Do not even try. This is not true, wallahi.
    And, even if you keep trying you are just deceiving yourself.

  20. Damilare Oluwaseun Victoria

    I’m an ex- corper , finished this year 19A .I’m really interested in the loan , I will so happy if granted !!

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