CBN Loan for Corpers 2023: Apply Now!. The Central Bank of Nigeria (CBN) is offering loans to National Youth Service Corps (NYSC) members to start small and medium scale enterprises (SMEs). The loan is interest-free and has a repayment period of seven years, with a two-year moratorium.
To be eligible for the loan, you must be a serving NYSC member with a viable business plan. You can apply for the loan through any of the participating banks.
The CBN loan for corpers is a great opportunity for young entrepreneurs to start their own businesses. If you have a business idea and are serious about starting your own company, I encourage you to apply for the loan.
Here are the benefits of applying for the CBN loan for corpers:
- It is interest-free.
- It has a long repayment period.
- It has a two-year moratorium.
- It is easy to apply for.
To apply for the CBN loan for corpers, you will need to submit the following documents:
- A completed loan application form.
- A copy of your NYSC certificate.
- A copy of your business plan.
- Two guarantors.
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.
The NYSC loans are also available to corps members who have been discharged within the last five years. There are also other forms of loans in Nigeria available to the general public from which a corps member can benefit from.