How to Apply for YIEDP NYSC Business Loan with Heritage Banks

This is a comprehensive approach to applying for the YIEDP NYSC Business Loan with Heritage Banks of Nigeria, plus other NYSC Empowerment schemes.

In recognition of our commitment to SME and Youth development, Heritage Bank has been adopted by the Central Bank of Nigeria (CBN) as the sole pilot bank for the Youth Innovative Entrepreneurship Development Programme (YIEDP).


The programme is aimed at harnessing the latent entrepreneurial spirit among the teeming youths by providing timely and affordable loans to implement their business ideas. This further provides a sustainable mechanism to stimulate employment, contribute to the Nation’s non-oil GDP, and address the challenge of youth restiveness.


The following categories of youth (aged 18-35) are eligible for for YIEDP NYSC Business Loan:


  1. Serving youth corps members
  2. Non-NYSC (not more than 5 years post NYSC)


Qualified Business Sectors:

  • Agro – Allied
  • Food Processing / Preservation
  • Arts & Crafts
  • Manufacturing / Cottage Industry
  • Information & Communication Technology (ICT)
  • Construction Support
  • Power & Energy
  • Education & Financial Inclusion
  • Film & Photography
  • Automobile
  • Others


The details below are relevant for all eligible youth:

Eligible youth can apply for the loan through this portal  using his/her NYSC State Code.

Applications can be made as an Individual or as a group (of 3-5 applicants with similar business interest)


A single applicant can access up to a facility limit N3m while group project jointly owned by 3-5 qualified beneficiaries can access up to a facility limit of N10m.

Applicants can also track application status via the same portal.

Security: Graduate entrepreneurs will use their tertiary institution(s) certificate(s) and their NYSC discharge certificate. Serving Corp members will pledge their NYSC discharge certificate and their tertiary institution(s) certificates(s). Also, legal ownership of assets financed by the Bank and 3rd party guarantors will be requested as additional collateral from all entrepreneurs.


The application portal will be open for a limited period. However, you can refine your business ideas before the submission of your business proposal at the bank request.



Please refer to the FAQ for further clarification


How to Apply for this Loan

Click here to start applying, or visit the link below:


What you need to know about the Youth Entrepreneurship Development Programme


The Youth Entrepreneurship Development Programme (YEDP) was launched on 15th March, 2016 to enhance the deployment of the ingenuity and resourcefulness of Nigerian youths for maximum economic development.


This was in recognition of the fact that there was no better segment of the Nigerian population than the youths to propel us to our much-needed economic recovery and diversification.

In the third quarter of 2015, the National Bureau of Statistics (NBS) indicated that of the 36.3 million youths representing 48% of the nation’s labour force, 13.6 million or 37.7% of them were either unemployed or underemployed.


This situation could not be allowed to fester given that many of our youths had very bright ideas and big dreams but are constrained by scarce seed funding.

The YEDP aims to fix the triple-barreled constraints of insufficiency, high cost and inadequate term of capital usually faced by youth entrepreneurs and startups.

It offers credit of up to N3 million to eligible youth or N10 million for groups of 3 – 5 youths, Interest rate is 9% per annum. Tenor broadly depends on project complexity and cash flow but is between 1 year for working capital loan and 3 years for term loan. The collateral requirements are quite simple: academic and NYSC certificates, third party guarantees and other movable assets.

Target beneficiaries are members of the National Youth Service Corps (NYSC), non-NYSC (but not more than five years post-NYSC), those who possess a verifiable tertiary institution certificate, and artisans with First School Leaving Certificate or a technical certificate or accredited proficiency certificate from the National Board for Technical Education (NBTE), whichever is applicable. Beneficiaries can be encouraged to migrate to other CBN interventions to obtain more funding if they utilize the YEDP facility properly.

The Guidelines for the programme indicate that activities eligible for financing include startups and expansion projects in agricultural value chains (fish farming, poultry, snail farming, etc.), cottage Industry, creative industry (tourism, arts and crafts) and Information and Communications Technology (ICT) among others


More details about all the available NYSC Business Loans, Agric Loans etc. visit the official CBN Portal


NYSC Foundation Scheme

NYSC Foundation is a Non-Governmental, Non-Political, Non-Profit and Private Sector-driven Organization, founded by former corps members who felt there is need to provide support for the continued healthy existence of NYSC Scheme and by extension, giving back to the Society.

This Foundation is duly registered with all the relevant regulatory organs of government, including the Corporate Affairs Commission (CAC) (RC.11,883), the Economic and Financial Crimes Commission (EFCC), (Special Control Unit), in accordance with the provisions of Money Laundering (Prohibition) Act, 2011, and also with the Federal Ministry of Youth Development, its supervisory agency.

The core aims and objectives of the Foundation are to mobilize resources to support NYSC activities and programs as well as to empower ex-corps members who have potential for entrepreneurship.

This Foundation facilitates the actualization of the following desired end-states:

Fostering of healthy integration amongst ex-corps members for the purpose of advancing the course of National Unity.

Accommodating and representing a multiplicity of interests, ranging from unity generation amongst serving/ex-corps, non-corps membership and family circles;

Developing and generating team work and team spirit across the board;

Designing and developing models to assist growth and development through the NYSC and NYSC Foundation’s expansionist programs, including youth employment schemes’ generation;

Building capacity for small-holder business generation (Entrepreneurial development),


More information:


Supporting New from a National daily


This is in the case of not believing the authenticity of the information above. You can go through the publication by one of the Nigeria’s most trusted Newspaper. YIEDP NYSC Business Loan is for both serving corps member, and those that have served since last five years.


This was published by Olaleye Aluko of Punch, Abuja:

The Central Bank of Nigeria has said it will offer loans to National Youth Service Corps members to start small and medium scale enterprises, which they will repay in seven years.

The CBN Governor, Dr Godwin Emefiele, who stated this in Abuja while receiving the NYSC Director-General, Brig. Gen. Shuaibu Ibrahim, in his office, noted that the loan was conceived out of the need to reduce unemployment rate in the country.

Emefiele added that the NYSC members should attend the bank’s entrepreneurship training centres “to acquire skills in various vocational areas for economic survival at the end of their national service instead of waiting for white-collar jobs.”

According to a release by the NYSC on Thursday, Emefiele added that upon completion of their training, the loans would be given to corps members to provide support for acquiring working tools and rent of business offices or workshops.

Additional Opportunities on the YIEDP NYSC Business Loan

The statement added, “The Central Bank of Nigeria has expressed willingness to provide further opportunities of self-employment for corps members through its skill acquisition training. The CBN governor explained that upon completion of training, beneficiaries would get the cumulative value which represents a loan that would be repaid within seven years with a two-year moratorium.

“He recalled that an earlier programme, the Youth Entrepreneurship Development Programme was  launched by the bank in 2016 and served as a springboard for the empowerment of corps members and other youths for self-employment and wealth creation.

“Emefiele assured the NYSC DG that the CBN National Microfinance Bank would also support interested corps members in business financing. He advocated the patronage of the Nigerian textile industry, which he described, as the largest employer of labour in the country in the 1990s.”

The NYSC DG noted that the visit was to enhance more “robust collaboration with the bank in the area of empowerment of corps entrepreneurs.”

Ibrahim requested the CBN’s support for the provision of more zonal skills acquisition centres and modern equipment for the NYSC farms located in various parts of the country.


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