Serving Corps Members in Nigeria now have an opportunity to access affordable financing for their business ideas through the NYSC–BOI Loan Scheme. This initiative, created by the National Youth Service Corps (NYSC) in collaboration with the Bank of Industry (BOI), aims to empower young entrepreneurs with the financial support needed to start or expand their businesses.
Eligibility Requirements
- Applicants must apply through the official NYSC SAED (Skills Acquisition and Entrepreneurship Development) channels at the State, Zonal, or Headquarters level.
- Must have participated in SAED training during or after camp and completed at least three months of service.
- Must upload proof of entrepreneurship or financial literacy training from recognized institutions such as SMEDAN, BOI, or other accredited NYSC partners.
Application Process
Interested Corps Members should submit their applications through the SAED Portal at https://portal.nysc.org.ng/nysc1/ResumePayment.aspx.
After logging in, click on “SAED Registration” to begin.
Applicants must upload a business plan (in PDF format) that demonstrates profitability, sustainability, and job creation potential before submission.
Eligible Business Sectors
Agro-processing, Manufacturing, ICT and Digital Services, Fashion and Creative Industry, Renewable Energy, and General Services.
Regulatory Requirements
Applicants must ensure their businesses are properly registered with CAC, comply with tax regulations, and obtain NAFDAC or SON certification where applicable.
Loan and Repayment Details
• Collateral: NYSC Discharge Certificate
• Guarantor: One guarantor required
• Moratorium: Three-month grace period before repayment
• Monitoring: Post-loan monitoring will be conducted to ensure proper fund utilization
Why You Should Apply
The NYSC–BOI Loan provides a rare opportunity for young graduates to transform their skills into sustainable businesses. By completing the required training and application process, Corps Members can build financial independence while contributing to national development.
Apply Here
