The Central Bank of Nigeria (CBN) has adopted Heritage Bank as the sole pilot bank for the Youth Innovative Entrepreneurship Development Programme (YIEDP).
The programme is aimed at harnessing the latent entrepreneurial spirit among the teeming youths by providing timely and affordable loans to implement their business ideas. This will provides a sustainable mechanism to stimulate employment, contribute to the Nation’s Non-oil GDP, and address the challenge of youth restiveness.
The following categories of youth (aged 18 – 35) are eligible under this scheme:
Serving youth corps members
Non-NYSC (not more than 5 years post NYSC)
Qualified Business Sectors:
Agro – Allied
Arts & Crafts
Construction Support
Education & Financial
Food Processing/ Preservation
Information & Communication Technology (ICT)
Industry
Manufacturing / Cottage
Power & Energy
Inclusion,
Film & Photography,
Automobile etc.
The Eligibility details are below for all interested Youth:
Any Eligible youth can apply for the loan through this portal http://www.yiedp-hbng.com/ using his/her NYSC State Code.
Applications can be made as an Individual or as a group (of 3-5 applicants with similar business interest).
A single applicant can access up to a facility limit N3m while group project jointly owned by 3-5 qualified beneficiaries can access up to a facility limit of N10m.
Any Applicants can also track application status via the same portal.
Applicants Graduate entrepreneurs will use their tertiary institution(s) certificate(s) and their NYSC discharge certificate.
Serving Corners will pledge their NYSC discharge certificate and their tertiary institution(s) certificates(s).
Legal ownership of assets financed by the Bank and third party guarantors will be requested as additional collateral from all entrepreneurs.
Note: The application portal will be open for a limited period. However, you can refine your business ideas before the submission.
Please Nigerian Youths take advantage of this great Opportunity in fulfilment of Mr President Promise.
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