CBN Loan For Corpers
Are you a current or former National Youth Service Corps (NYSC) Corps member? Do you need a loan to launch your business? If “yes,” keep your composure as we explain the credit options available to Corpers from the Central Bank of Nigeria (CBN).
Here, we’ll explain how to apply for a CBN loan for Corp members. You could also want to apply for the Nigeria Youth Investment Fund (NYIF) program, which is open to any young Nigerians between the ages of 30 and 35 who are interested in starting their own business.
The Central Bank of Nigeria (CBN) and other organizations have helped young Nigerians over the years by offering lenient loan terms. The fact that the interest rate on CBN loans is so low is an intriguing feature.
However, National Youth Service Corps (NYSC) members and ex-members can utilize it as a front to obtain this CBN loan. We shall now examine the CBN’s lending options for Corp members this year.
Recall that the CBN recently disclosed plans to provide loans to NYSC participants to launch businesses.
Godwin Emefiele, the governor of the Central Bank of Nigeria, is setting up the loan program for corps members.
The loan will be returned, according to the CBN Governor, in 7 years.
The following is what President Muhammadu’s media adviser, Bashir Ahmad, posted on his official Twitter account.
“The CBN Governor discloses that the Bank has completed arrangements to offer loans to NYSC members to commence small and medium scale enterprises.
“The loan which is conceived out of the need to reduce unemployment rate in the country will be repaid in 7 years.”
Below are categories of people who are eligible to apply for CBN loan for Corpers:
1. Applicants must be between the age of 18 and 35 years.
2. Must be a Corps member, or ex-Corps members but not more than 5 years of post NYSC.
3. You must have a business idea in any of the following sectors:
- Information & Communication Technology, ICT
- Power & Energy
- Film and Photography
- Food Processing,
- Cottage Industry, and others.
How to apply for CBN loan for Corpers
Are you a serving corps member or ex-corper member? Do you have a business idea that you need money to execute? If yes, then can apply for CBN loan.
To apply CIick Here to see guideline on how to submit your application. Congratulations in advance!