FG GRANTs: How To Apply For Federal Government Support Fund 2021
NYIF Nigerian Youth Investment Fund is a government initiative designed to boost the Nigerian economy through access to leverage and financing for youth.
The Fund hopes to act as a catalyst that will unlock the potential of young people and allow many to create jobs that will increase their employment rates. NYIF aims to reach 500,000 youth per year between 2020 and 2023.
Approval for each fund will be between N 250,000 and N 50,000,000, and there will be a margin between-group claims, individual claims, and loan-to-funds. lamination. “Annual and term loans. 3 years with a single-digit interest rate of 5%.
Withdrawals are made through a variety of channels, including microfinance, finance companies, and custodial banks regulated by the Central Bank of Nigeria and backed by the Industrial Bank.
Start or expand your business with free credit and business support guaranteed by the government. It is an excellent alternative for those looking for a business loan.
The NYIF application portal will allow eligible Nigerians to access the federal government grant 2020 to support their small and medium-sized businesses.
The subsidy amount starts from 250,000 N to 5,000,000 N. The essence of this government subsidy is to keep small businesses growing during this difficult period.
Read all the details below to start applying now on the NYIF 2020 Application Portal. All the requirements and the simplest application method are listed below;
Below are the National Youth Investment Funds’ benefits:
- Little interest
- Free warranty
There are some challenges which the applicants for the NYIF may face. Below are the challenges:
- Lots of documentation is required
- A viable existing business is needed
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Application form requirements
- BVN number
- Job information
- The age requirement for this year’s application is 18-35.
Bear it in mind that, this fund is opened to all Nigerians. NYIF is open to both men and women.
All the best!