APPLY NOW! 2018 #BOIGefFund3 Bank of Industry (BOI) Graduate Entrepreneurship Fund (Gef) programme

The Graduate Entrepreneurship Fund (GEF) programme is a special scheme to encourage and promote entrepreneurship among serving members of the National Youth Service Corps (NYSC). The scheme provides loans of up to N2.0 million at 0% interest rate to support enterprises and potentially viable business ideas.

Applications are welcome until midnight, 7th February, 2018.

This GEF scheme which is a joint initiative of the Bank of Industry (BOI) and the National Youth Service Corps (NYSC), has the following objectives:

  • Encourage graduates of tertiary institutions currently undergoing the compulsory one-year NYSC programme, to venture into business and become employers of labour rather than job seekers.
  • Address the entrepreneurship capacity gap o the NYSC members who are expected to produce bankable business plans after the three-day capacity building programme.
  • Deepen financial inclusion by de-risking the NYSC members and making them eligible for concessional loans ranging between N500,000 and N2 million to be provided by BOI.
  • Ensure sustainability of the businesses of the eventual loan beneficiaries through effective monitoring by the NYSC Directorate and BOI.

The GEF scheme comprises the following:

  • Online Business Plan Competition to select the most promising real sector business ideas, Selection/screening of participants shall be done via the GEF online application portal.
  • Four days intensive entrepreneurship capacity building programme.
  • Loan amount of up to N2 million to be provided to each successful participant with bankable business plans within BOI’s 35 SME clusters (list at BOI’s website: www.boi.ng) at an interest rate of 9% per annum, with tenors ranging from 3-5 years inclusive of 6 – 12 months moratorium period.

The capacity building programme is scheduled to hold simultaneously at the following venues:

Geo-Political Zone/State – NYSC Camp Location:

South-South: Former Martins TIC, Issele-Uku, Aniocha North L.G.A, Delta State.

South-East: Umunna, Bende L.G.A., Abia State.

South-West: Aisu College Hospital Road, Ede, Osun State.

North-East: Government College, Jalingo, Taraba State.

North-Central: Mangu, Mangu L.G.A, Plateau State.

North-West: Mani Road, Katsina, Katsina State.

Lagos: Iyana Ipaja, Agege, Lagos State.

Please Note: Only serving Youth Corp members in 2017 Batches A & B are eligible to apply.

Kindly click HERE to Apply Now!



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