The Bank of Industry launched a new, N10 billion empowerment program
called “The 0% Entrepreneurship Fund”. It was created for Nigerians who are
currently unemployed.
The
Entrepreneurship Fund has several purposes:
·
Creating an environment for Nigerians to
start their own businesses;
·
Encouraging students/traders to become
employers rather than job-seekers/labourers;
·
Making the financial assistance of Nigerians meaningful and less
risky;
The
BOI Nigeria is willing to create the best environment for
graduate/non-graduates citizens. However, it may not be that easy to get the
loan. The programme requires the following:
·
An entrepreneurship capacity building program
that lasts for two or three days. The training is mostly concentrated on
generating a Business Model.
·
An online Business Plan Competition where
graduated students and non-graduate citizens will show off their business
ideas.
·
And finally there is a loan for up to 2
million of Naira that is given to those who have won the competition. The
credit will be provided within BOI’s 35 SME clusters with tenors ranging from
three to five years inclusive of six to twelve months moratorium period. The
funds are expected to create about 20,000 direct jobs and 100,000 indirect jobs
annually.
Note: The loan is available
for those who have successfully done the following:
1.
Passed the process of screening.
2.
Click the apply button below to start
application
3.
Attended the above-mentioned capacity
building programme
4.
Filled the Bank of Industry loan application
form
5.
Submitted a potentially successful business
plan.
There are also several scheme
partners that the Bank of Industry is collaborating with:
·
SME Friendly Banks;
·
Partner Enterprise Development
Centers/Institutions;
·
Partner Technical Skills Training
Institutions;
·
The management of the National Youth Service
Corps.
The loan processing and inspection time will take up to 2-4
weeks. The Bank of Industry loan for graduates has to be paid monthly and
weekly for the non-graduates. The source of payment can be the proceeds of
one’s business. There are a lot of opportunities for those who are looking for
them. If you are confident in your business idea, then apply for the
Entrepreneurship Fund and the Bank of Industry Nigeria loan.
To Apply: Click the below application button to apply now
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