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The NYSC loan is for current, or former member interested obtaining a loan for your business, The business loan for youths can help make your dreams of becoming an entrepreneur a reality. In this article, we will explore the process for applying for an NYSC loan.
Youths in Nigeria can now apply for loans to start businesses and create jobs thanks to the Central Bank of Nigeria (CBN) and Heritage Bank. The loans are offered through the Youth Innovative Entrepreneurship Development Programme (YIEDP).
Youth Innovative Entrepreneurship Development Programme (YIEDP) is a scheme aimed at fostering entrepreneurial skills among Nigerian youth by providing accessible loans to assist in the implementation of business ideas.
The availability You can apply for a loan is up to 3 million naira as an individual or up to 10 million as a group of 3 to 5 people through the NYSC loan program.
NYSC Loan Eligibility Criteria
• Applicants must be between the ages of 18 and 35
• Active serving corps members are eligible to apply
• Ex-corps members who have completed their service within the last five years are also eligible
• Candidates must have a viable business idea
NYSC Loan 2023 Qualification Needed
• Tertiary Institution Certificate
• NYSC discharge certificate or a pledge of your discharge certificate if you’re currently serving
• Legal ownership of assets financed by other banks
How To Apply For NYSC loan 2023
• Your NYSC state code to apply for the loan.
• Individual applicants can apply for loans of up to (3 million).
• Groups of applicants can apply for loans of up to (10 million).
• Only one business idea can be submitted per application.
• Application process can be tracked through the portal.
Visit NYSC Loan Portal