5+ business loans for Nigerians can apply in 2022

5+ business loans for Nigerians can apply in 2022

Nigerian entrepreneurs or business owners can apply for a number of federal government loan schemes to help their brand grow in 2022.

Through intervention loan programs, the Buhari-led government is working hard to revive the economy following the devastating effects of the Covid-19 outbreak on the incomes of small and medium-sized businesses in the country last year.

These financial programs are initiated by the federal government and have already helped thousands of people, aimed at young people and SMEs.

These loan programs are also available in 2022. Let’s take a look at some of the best federal government loan programs you can apply for in 2022.

5+ business loans IN Nigeria

Entrepreneurship Program for Institutions of Higher Education (TIES) Loan Scheme

The Third Institute Entrepreneurship Program (TIES Loans Program) is for Nigerian graduates and undergraduates who have entered a Nigerian university or polytechnic.

CBN N500 million undergraduate and graduate loan was developed under TIES in collaboration with Nigerian universities and polytechnics to harness the entrepreneurial potential of Nigerian graduates.

Graduates with less than seven years of experience can apply for a loan of up to $25 million under the loan program.

The Agribusiness/Small and Medium Enterprise Investment Program (AGSMEIS) is a program that supports federal government efforts and policy initiatives to promote agribusiness and small and medium-sized enterprises (SMEs) as a means of long-term growth and job creation.

Applicants without a deposit until 2022. can borrow up to 10 million. N, with an annual interest rate of 5% and an annual interest rate of 9% for a maximum of 5 years for the remaining years. The morgue usually lasts 12 months.

AGSMEIS loan is now available for entrepreneurs in various fields including agriculture, creative industries, hospitality, etc.

If you are a current or former member of the National Youth Service Corps (NYSC) and have a business or business idea that requires a federal government loan to strengthen or start it, you now have the opportunity to apply with of the NYSC. Business loan

The NYSC Business Loan was launched by CBN through Heritage Bank, in conjunction with the Youth Innovative Entrepreneurship Development Program (YIEDP), to help graduates start a business, start working independently and create jobs for others.

The Federal Government has updated the application process for the Nigerian Youth Investment Fund for eligible young people who wish to take advantage of the scheme to improve their lives.

NYIF is a $75 billion loan program developed by the Nigerian government to invest in the innovative skills of youth and businesses in the country.

The loan bears a single interest rate of 5% per annum and a grace period of 12 months before repayment. July 2020. Authorized by the Federal Executive Council

Nigerian Youth Investment Fund.

Loan from the National Housing Fund (FNH)

The Federal Mortage Bank Of Nigeria (FMBN) offers a number of loan and credit facilities to Nigerians, especially low to middle income earners. The NHF is one of its main lending institutions, enabling low-income people who cannot afford a home to become homeowners.

NPower Government Enterprise and Empowerment Program (GEEP) Loan
The Government Enterprise and Empowerment Program (GEEP) is an effort by the Nigerian Federal Government, through the Bank of Industry (BOI), to overcome a decades-long economic challenge. It is a Nigerian government program aimed at providing access to financial inclusion and microcredit to Nigerians at the bottom of the economic pyramid.

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