75B NYIF Nigerian Youth Investment Fund nyif.nmfb.com.ng 2020 Apply Here fund Loan application Portal is open now and registration is on going for 2020/2021 phase.
Buhari Led Federal Government has approved the sum of 75 Billion Naira for the immediate take-off the Nigerian Youth Investment Fund NYIF, NYIF was birthed in order to assist small and medium scale businesses across the country as well as assist the youth in which ever Business they are doing, it was created to sustain the Nigeria Youths and as well as to ease the Economic Negative impact of the covid Pandemic on Nigerian Citizens.
How to Apply for the NYIF 75BILLION NAIRA Fund Loand 2020
Since the Establishment of the Nigerian Youth Investment Fund Loan a lot of Youths in the country are happy about the development, because it’s a sign of Good thing, having access to the 75 Billion naira NYIF will make doing Businesses across the country smooth and easy.
Before the end of this article we will show you the Eligibility and how to apply for the nyif Loan 2020, you have to make sure you truly need the loan before applying, make sure you have a good business plan you want to invest the NYIF Nigerian Youth Invest Fund Loan into.
RELATED POST: NYIF Nigerian Youth Investment Fund Registration Application Portal Site
How to apply for NYIF Nigerian Youth Investment Fund Loan Application Portal 2020/2021
We will show you some quick ways to apply for the NYIF Loan 2020, make sure to go through this article very well and if you have any questions to ask please use the comment bo below this article.
NYIF Nigerian Youth Investment Fund Application Eligibility Form 2020
- You Must be a citizen of Nigeria
- You must Present a recognized means of identification and guarantors.
- Potential beneficiaries are expected to have a fundable business idea.
- Your Business must be Registered
- Age bracket is 18-35 years old only
- NYIF loan application is strictly for an Individual
NYIF LOAN RANGE 2020
The Loan, whose aim is to meet 500, 000 youths from 2020-2023, ranges approval will range from N250, 000 to N50m with a spread across group applications, individual applications, working capital loan set as one year and term loan set at three years with a single-digit interest rate of 5%.
A minimum of N25 billion each year in the next 3 years, totalling N75billion will be required to ring-fence the NYIF. For the remaining parts of 2020, N12.5 billion will be needed to kick starts the NYIF. It is expected that successive governments will keep the fund alive.
NYIF Loan is funded by the Ministry of Finance, Budget, and National Planning (MFBNP) Central Bank of Nigeria (CBN) will provide the financing to kick-start the Nigeria Youth Investment Fund (NYIF).
NYIF LOAN Disbursement
It would be disbursed through various channels like
- Micro Credit Organizations across the country under the Central Bank of Nigeria supported:
- Bank of Industry
- Fintech Organizations and
- Venture Capital Organizations registered with the CBN.
NYIF provides a single window of Investment Fund for the youth thereby creating a common bucket for all Nigerian youth to access Government support.
Providing less cumbersome access to credit and finance for the average Nigerian youth and help lift thousands of the youth out of poverty and birth a whole generation of entrepreneurs, CLICK HERE to apply for the NYIF Loan.
For information about this NYIF Loan please leave a comment below this post, you can as well as contribute to this post by leaving a comment below.
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