NYSC Business Loan
Are you an intending corps member, corps member or ex-corp member with intentions of getting a loan for your business? Your dreams of being an entrepreneur are achievable through the NYSC business loan for youths. In this article, you’ll learn how the application for the NYSC loan is made.
The CBN has made it possible for youths to apply for loans in Nigeria to start businesses in order to create employment opportunities. This loan has been made possible through Heritage Bank, in partnership with Youth Innovative Entrepreneurship Development Programme. (YIEDP)
Individuals can apply for loans of up to 3 million, while a group of three to five persons can apply for loans of up to 10 Million. The following explains how you can apply for the NYSC loan.
The YIEDP scheme is aimed at harnessing entrepreneurial skills amongst Nigerian youths by providing accessible loans to help youths implement business ideas.
In order to qualify for the NYSC loan, the following must apply to you.
The loans are available to specific business sectors. The following listed fields are the qualified business sectors for the NYSC loan.
If you’re a serving corps member or an ex-corp member of not more than five years, you can apply for the loan online. Take note of the following information before you apply for your business loan.
Apart from meeting the above requirements to qualify for the NYSC loan, you need the following list of documents as collateral for the loan.
The Heritage Bank NYSC loan scheme requires the following documents as collateral to obtain the loan.
The possibility of starting a business as a youth can be daunting without the required capital. The NYSC loan is a good scheme that youths can count on to generate the required funds for their business ideas.
The NYSC loans are also available to corps members who have been discharged within the last five years. There are also other forms of loans in Nigeria available to the general public from which a corps member can benefit from.
