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https://nyscfoundation.org.ng/membership/ | NYSC Foundation Loan

Membership of the Foundation is open to all Nigerians who have undergone the compulsory one-year National Service and are desirous of contributing to the achievements of the NYSC Foundation in line with its mandate. Contributing to a good course that would assist NYSC, Serving Corps members, Ex-corps members and Nigerian citizens at large (National Unity), is a responsibility the Foundation holds in high esteem.

Are you an ex-corps member? Or a serving corps member? Did you pay N500 for NYSC Foundation during your service year? Do you need a loan for your business or to start a new business? If yes read about how to get an NYSC loan.

WHAT IS NYSC FOUNDATION.

NYSC Foundation is a non-governmental organization, established by former corps members who felt there is a need to provide support for the continued healthy existence of NYSC scheme by empowering members and giving loans to those who needed financial assistance to help start-up small or medium scale business.

WHO IS QUALIFIED TO APPLY FOR THE NYSC FOUNDATION LOAN?

NYSC foundation is basically for ex-corps members and corps members who are about to pass out from service. If you pay N500 to your LGI for NYSC Foundation and fill the membership form, then you are eligible to apply for this loan..

When to apply for an NYSC loan it is never too late to submit your proposal for an NYSC foundation loan. You can submit it anytime you’re ready with your proposal.

HOW DOES IT WORK?

Loan are given to interested ex-corps members who have business ideas. The loan is payable

REQUIREMENTS FOR NYSC FOUNDATION LOAN

  • Application letter
  • A business proposal
  • Photocopies of evidence of being a registered member.
SN
Option NYSC Foundation  N400,000.00 maximum
1
Moratorium (Grace Period) 3 months
2
Duration 24 months
3
Eligibility Registered members of the Foundation
4
Charges 5% one-time administrative charge
5
Collateral NYSC Discharge Certificate
6
Guarantor Not below grade level 12 in a government establishment or its equivalent in the private sector

 

Note that all payments for foundation membership registration should be receipted and credited to the account below:

Account Name: NYSC foundation

Account No: 1011560875

Bank: Zenith Bank

Sort code: 057080015

Also, all letter of intent can be obtained at all nysc Secretariat are to be delivered to by NYSC foundation

TIPS TO SECURE THE LOAN:

  • Do not submit a one paged proposal document. It must be well written and detailed
  • Don’t wrote business proposas on Busineses that will take long to mature onemake profit to repay in two years
  • If possible, wrote a proposal on existing business

HOW TO APPLY FOR NYSC LOAN:

Interested applicants should submit their proposal at NYSC secretariate across Nigeria

For more information visit the official webpage of NYSC foundation loan.

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