Loan Details
Max Amount
₦5 Million
Tenure
Up to 3 Years
Interest Rate
9% p.a.
(On reducing balance)
Introduction
The National Youth Service Corps (NYSC) and the Bank of Industry (BOI) have established this initiative to support serving Corps Members with access to affordable financing. The scheme is designed to facilitate the start-up or expansion of viable businesses across various sectors in Nigeria.
NYSC Endorsement
Applications must be routed through official NYSC SAED channels (State, Zonal, or HQ) for credibility and eligibility verification.
Training Requirements
Evidence of entrepreneurship training via SMEDAN, EDC, Kudimata, BOI, or accredited SAED partners is required.
Other Requirements
- Bankable Business Plan
- Guarantor (At least one credible attestant)
- CAC Registration Certificate
- Proforma Invoice from Vendor
- Official ID (e.g., NIN)
- Bank Verification Number (BVN)
Collateral & Moratorium
-
A
Discharge Certificate as Collateral
Your original NYSC Discharge Certificate will be held as collateral for the duration of the loan.
-
B
Grace Period (Moratorium)
A three (3) month moratorium applies before the commencement of principal and interest repayment.
Focus Sectors
How to Apply
Log into your NYSC Dashboard
Access your official profile via the national NYSC portal.
Scroll down to "SAED Registration"
Navigate to the Skills Acquisition and Entrepreneurship Development module.
Go to "Loan Application"
Select the dedicated application link for the BOI scheme.
Agree to Terms and Conditions
Review all guidelines carefully before proceeding.
Start the Application
Complete the digital form and submit your documentation for review.
Consultation & Business Support
El-Sufyan Global Services provides the professional expertise required to develop bankable business proposals that meet BOI standards.