Apply: Sterling Bank Youth Entrepreneurship Development Programme (YEDP) 2016
Are you on the search for funding for your business? Sterling Bank is offering low-interest loan facilities to individuals and business groups developed by young people. The Programme is designed specifically for Nigerian Applicants resident in Nigeria.
- Food Processing / Preservation
- Arts & Crafts
- Manufacturing / Cottage Industry
- Information & Communication Technology (ICT)
- Construction Support
- Power & Energy
- Education & Financial Inclusion
- Film & Photography
About the Award: YIEDP stands for Youth Innovative Entrepreneurship Development Programme. 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. The activities to be covered under the Programme are startups and expansion projects for serving and young graduates in the following sub-sectors:
- • Agricultural Value Chain (fish farming, poultry, snail farming etc)
- • Cottage Industry
- • Creative Industry (tourism, arts & craft)
- • Information & Communication Technology (ICT)
- • Any other activity that may be determined by CBN from time to time.
Eligibility: The following categories of youth (aged 18 – 35) are eligible under this scheme:
- Serving youth corps members
- Non-NYSC (not more than 5 years post NYSC)
- 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.
Number of Awardees: Not specified
Value of Scholarship: A Single Applicant can access a N3m facility while group projects jointly owned by 3-5 qualified beneficiaries can access a N10m facility. The jointly owned businesses will operate as registered partnerships.
Duration of Programme: The Programme will be done in tranches. Date for each tranche will be made known to the general public via our websites and other news media.
How to Apply: Application is only by online registration via Sterling Bank Portal. Apply Here
It is important to go through the FAQ before applying
Award Provider: Sterling Bank Plc
Important Notes: Application status can be tracked on the portal and the bank will also notify successful Applicants via their email addresses.