Want to apply for the 2017 NYSC Foundation loan and get your request approved? Checkout this post in full.
If you are a serving corps member of the NYSC scheme, you are sure to have noticed the emphasis placed on skill acquisition by staff members of the scheme. This is because there are few job opportunities in Nigeria today, so if you want to be financially stable after your service year, you might need to be an entrepreneur.
We all know that getting to do the SAED training is just one thing, while getting the funds to setup a profitable business from the skill learnt is another. This is why the NYSC Foundation loan is important for enterprising corps members.
Let’s go straight into the main reason for this article without any further delay.
What are the requirements for the 2018 NYSC Foundation loan?
The Youth Innovative Entrepreneurship Development Programme (YIEDP), is an innovative project provided by the Heritage Bank NYSC. It has a goal to provide young Nigerians with quick and affordable loans if they have business ideas.
List of requirements
- Young Nigerians from 18 to 35 years old and in the following categories:
- Serving Youth Corps Members;
- Non-NYSC (no more than five years post NYSC);
- Artisans of Nigerian Descent.
- One person can only get a quick loan in Nigeria for up to N3 million.
- 3-5 qualified beneficiaries can expect to get a loan up to N10 million.
What kind of business plan can I write to get the 2018 NYSC Foundation Loan
Just as we said earlier, we are set to give you the details on how to get the NYSC Foundation loan with ease. This is why we are going to give you the top business ideas which get approved with ease, so you don’t end up wasting your time drafting something that might not be approved.
According to the Youth Innovative Entrepreneurship Development Programme (YIEDP) official data, you can expect to get the online loan from the Heritage Bank if you want to start your project in the following business sectors;
- Film and Photography
- Education and Financing
- Power and Energy
- Construction Support
- Information Technology
- Communication Technology
- Cottage Industry
- Arts and Crafts
- Food Processing
NYSC Loan Scheme Important Information
For all those who want to apply for the NYSC Foundation loan scheme, you can register and ask for a loan from the Heritage Bank! It is important for you to know that the application and registration process is free of charge. So anybody asking you to pay a dime is simply fradulent
Applicants can only submit one business idea at a time. If your business idea is out of the stream do not worry! You will be able to submit your business idea in the next stream.
You don`t need to be registered with the Corporate Affairs Commission to apply for the NYSC Foundation Loan.
Step by step guide on how to apply for the NYSC Foundation Loan Scheme
Follow the step by step guide below to have a smooth process.
All eligible persons can apply for the NYSC Foundation Loan through the official portal. You are going to use your NYSC State Code to apply for this loan.
Applicants can track their application process through the portal after application
According to the request of the Heritage Bank NYSC Foundation loan scheme, all applicants must provide the following documents;
- Tertiary Institution Certificate
- NYSC discharge certificate
- If you have a legal ownership of assets financed by other Bank, then you need to provide additional documents upon the request of the Heritage bank.
Do not forget that the portal will be opened for the limited time period. Goodluck
There you have it this post “How to apply for NYSC Foundation loan 2018 and get approved easily.” I hope you found this helpful.