2017 Bank Of Industry Entrepreneurship Loan Apply Now Via www.youthignite.ng

Filed in Jobs by on May 7, 2017 0 Comments
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Entrepreneurship Loan

2017 Bank Of Industry Entrepreneurship Loan – In light of the recent economy, development strategy and create new jobs and supportthe development of the business is more need than ever.

Microenterprises play an important role in this quest as they account for a larger shareof newly created jobs. However, only a fraction of these start-ups survive for more thantwo years or even develop in the high-growth companies.

How To Apply:

  • Interested entrepreneurs should visit www.youthignite.ng
  • All entries will be reviewed by the Panel of Judges who consist of carefully selected accomplished professionals from all walks of life.
  • Entries must be submitted online within the specified timeframe and conform to specified guidelines and terms and conditions of participation clearly outlined on this website.

REGISTER NOW

Proposed Entrepreneurship Loan amount for project funding

Entrepreneurs upon meeting the required criteria and judges review would have access to a “loan” value as required by their businesses capped at N200,000.00 (Two Hundred Thousand Naira) to start or grow their businesses. Successful businesses that are able to prove their concept (through the amount of jobs created, revenue generated, etc.) are then able to access the “scale up loan” up to the tune of Five Hundred Thousand Naira (N500,000).

Requirement/Eligibility

  • Applicants must be of Nigerian nationality
  • Applicants must be between the ages of 18 – 35.
  • Failure to verify age will result in the application being declined.
  • Applications must articulate a specific business problem to solve or opportunity to address.
  • Applicants must be clear on the benefits from the loan.
  • Employees of Bank of Industry, FirstBank, AGDC, Digital Jewels Limited, etc. and their families are not eligible to apply.
  • The Judges’ decisions are final.

The Training:

All selected applicants are required to attend a business boot camp to refine their business strategy

Funding:

Entrepreneurs selected to take part in Micro Enterprise funding are automatically qualified to receive a single-digit interest loan capped at Two hundred thousand naira (N200, 000).

The Duration of the Programme:

Loan cycle – 12 months (3 months’ moratorium, 9 months’ repayment)

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