Do you know that the National Youth Service Corps (NYSC)/ Youth Innovative Entrepreneurship Development Programme (YIEDP) Business Loan Application Form Link Portal 2023/2024 is open for interested serving Corps members, or ex-Corps members (but not over 5 years after completion of NYSC)? If you are interested, then read more about it here and see how to apply for it below.This post is about NYSC/ YIEDP Business Loan Application Form in Nigeria and steps to access it online successfully. Either as a corps member or ex Corps member.
The National Youth Service Corps (NYSC) can be your lucky ticket to get a loan from the Federal Government, through the Central Bank of Nigeria (CBN) and Heritage Bank, in partnership with Youth Innovative Entrepreneurship Development Programme (YIEDP).
One of the reasons CBN gives loans to graduates is to help them start a business, be self employed, and to enable them create employment opportunities for other people around them.
How NYSC/ YIEDP Business Loan Works
As stated by YIEDP, a youth can apply for a CBN business loan of up to N3 million, and a group of 3 – 5 persons can apply for a loan of up to N10 million.
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.
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.
Eligibility for NYSC/ YIEDP Business Loan Application Form
To be considered for NYSC business loan, applicants 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),
- Have a feasible business idea.
Applicants must have a business or business ideas related in any of the following fields:
- Technology (ICT),
- Power & Energy,
- Film and Photography,
- Construction Support,
- Education and Financing,
- Food Processing,
- Information and Communication Technology(ICT),
- Cottage Industry,
How to apply for NYSC/ YIEDP Business Loan Application
To apply online use this link: https://www.yiedp-hbng.com/.
- For a successful online application, please use your NYSC State Code.
- Make an individual loan request or as a group of 3-5 people
- Single applicants for NYSC/ YIEDP Business Loan Beneficiaries can acess up to N3million, while a group of applicants can access up to N10milln
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