StartCredits StartCredits StartCredits StartCredits
  • Loans
    • Credit Score
    • Guide
  • Investments
    • Bank
    • Crypto
  • Log In
StartCredits StartCredits
  • Loans
    • Credit Score
    • Guide
  • Investments
    • Bank
    • Crypto
  • Log In
Nigerian Youth Investment Fund

Nigerian Youth Investment Fund

Interest Rate (5% – 5%)

 

Apply
Category: Government Tags: Business, Micro Loan
  • Description

Description

Nigerian Youth Investment Fund


Nigerian Youth Investment Fund NYIF is a government initiative created to boost the Nigerian economy through leverage and access to finance for youths.

The fund hopes to serve as a catalyst to unleash the potential of the youth and enable many of them build businesses that will increase the employment rate.

The NYIF aims to reach 500,000 youth annually between 2020 and 2023. Each fund approval will range from N250, 000 to N50, 000,000, with a spread across group applications, individual applications, working capital loans set at 1 year and term loans set at 3 years with single digit interest rate of 5%.

Disbursement will be through various channels, which will include micro finance, finance firms and deposit money banks regulated by the Central Bank of Nigeria and supported by Bank of Industry.

Start or grow your own business with the help of a government-backed loan and free business support. A great alternative for individuals looking for business loans to fund their business.

 

PROS

  • Low interest rate
  • Collateral free

 

CONS

  • Numerous documentation required
  • Existing viable business required

 

ELIGIBILITY CRITERIA

  • Official Government Identification
  • Applicant must be between the ages of 18 and 35 years old
  • Notarized Guarantor Forms
  • Passport photographs
  • Bank Verification Number
  • Training Certificate
  • Fundable business idea
  • Registered business
  • Nigeria Citizenship
  • NYSC certificate for graduates

Related products

  • paylater loan

    Paylater

  • PayConnect startcredits

    PayConnect

  • ab microfinance loans

    AB Microfinance

  • Mayfair microfinance bank loans

    Mayfair

Search for your Loan

Latest Loans

  • Addosser Addosser
    Rated 4.00 out of 5
  • echo microfinance Eco bank
  • Finca Microfinance Finca
  • microcred Microcred
    Rated 5.00 out of 5
  • Migo Migo
  • Sterling bank loans Sterling
    Rated 5.00 out of 5
  • Quickcheck QuickCheck
  • creditville loan Creditville
  • Abbey Building Society Plc Abbey Building Society
  • fidelity loans Fidelity
    Rated 4.00 out of 5

Loan Advice

  • How to manage your loan costs
  • How to improve your credit score in Nigeria
  • Funding options to emigrate from Nigeria
  • How to access bank loans for your business in Nigeria
  • Non-performing loans of Nigerian banks
  • Securing a federal government housing loan in Nigeria
  • How to check your NIN for a loan application
  • Types of loans offered in Nigeria

Company

  • About
  • Contact
  • Careers
  • Credit Score

Loans

  • Moneylenders
  • Peer to Peer
  • Mortgage
  • Microfinance

Investments

  • Crypto
  • Bonds
  • Deposits
  • Shares

Follow Us!

Follow Us on FacebookFollow Us on TwitterFollow Us on Google+
  • Loans
    ▼
    • Credit Score
    • Guide
  • Investments
    ▼
    • Bank
    • Crypto
  • Log In
Return To Top
  • Moneylenders
  • Peer to Peer
  • Mortgage
  • Microfinance
2023