NYSC-BOI Loan For Corps Members: How To Apply, Requirements, And Eligibility

Serving Corps Members in Nigeria now have an amazing opportunity to access affordable financing for their business ideas through the NYSC–BOI Loan Scheme. This initiative, created by the National Youth Service Corps (NYSC) in collaboration with the Bank of Industry (BOI), is designed to empower young entrepreneurs with the financial support needed to start or expand their businesses.

If you’re a Corps Member passionate about entrepreneurship, here’s everything you need to know about the NYSC BOI Loan application, eligibility, and how to apply successfully.

Your Eligibility Checklist

1. NYSC SAED Endorsement

You must route your loan application through the official NYSC SAED (Skills Acquisition and Entrepreneurship Development) channels — whether at the State, Zonal, or Headquarters (HQ) level.

2. SAED Training

Applicants must have actively participated in SAED training, either during in-camp or post-camp activities, and must have served for at least three (3) months.

3. Certified Training

You are required to upload proof of entrepreneurship or financial literacy training from recognized institutions such as SMEDAN, BOI, or other accredited NYSC partners.

Application Process for NYSC BOI Loan

Corps Members who are interested in applying can submit their applications through the SAED Portal using the link here https://portal.nysc.org.ng/nysc1/ResumePayment.aspx

Once on your dashboard, click on SAED Registration to begin the process.

Note: Applicants must upload a Business Plan (in PDF format) before submitting the application. Your business plan should demonstrate clear profitability, sustainability, and potential for job creation.

Focus Areas and Business Sectors

Your business must fall within one of the following BOI-approved focus sectors:

• Agro-processing
• Manufacturing
• ICT / Digital Services
• Fashion and Creative Industry
• Renewable Energy
• General Services

Regulatory Compliance

All applicants must ensure their businesses comply with relevant standards and regulations, including:

• CAC Registration
• Tax Compliance
• NAFDAC or SON certification (where applicable)

Loan and Repayment Details

Here’s what you should know about the loan structure and repayment terms:

• Collateral: Your NYSC Discharge Certificate will serve as collateral for the loan.
• Guarantor: You need one guarantor to attest to your loan application.
• Moratorium: Enjoy a three-month grace period before loan repayment begins.
• Monitoring: Be prepared for post-loan monitoring to ensure proper use of the funds.

Why You Should Apply

The NYSC BOI Loan gives young graduates the opportunity to turn their skills into sustainable businesses. By participating in SAED and completing the required training, you can build a foundation for long-term financial independence while contributing to Nigeria’s economic growth.