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How to get NYSC loan as a youth corp member in Nigeria

Being a youth corp member has many benefits, one of which is easy access to loans. During your service year, you may often run low on cash to buy things you need or need money to finance your business idea. If that’s the case, this article is for you. We’ll give you all the information you need on how to get NYSC loans as a youth corp member in Nigeria.

Types of loan


There are various lending platforms that offer loans to youth corpers in Nigeria. These loans range from business loans to cash loans, asset loans, and loans for training & professional certification. Below are some lending platforms that offer NYSC loans to youth corpers in Nigeria.

1.   Empowering The Corps (ETC)

This is a programme developed by Credit Direct Limited in partnership with NYSC to offer loans to youth corpers in Nigeria during their service year. Here are some of the loan packages available in this programme:

●     Business Starter Package

This loan is offered in partnership with NYSC Skills Acquisition and Empowerment Development (SAED) programme to corp members who need funds to start up their small businesses such as bead making, baking, shoe production, Soap making, etc. Youth corps members can access up to ₦100,000 in this package. As part of the application process, an attestation letter completed by the corper and scanned to ETC online loan application portal is required for loans of ₦46,000 – ₦100,000.

●     Asset Acquisition Package

Credit Direct Limited has partnered with Konga to assist corp members to purchase various products such as a generator, fridges, clothes, electronics, and furniture on credit. Maximum loan amount available for this package is ₦45,000. After your loan application is approved, the loan is disbursed to you through non-refundable Konga vouchers to be used for your purchase. This voucher can only be used by you and can be spent multiple times on Konga within its validity period.

●     Professional Certification Package

Credit Direct Limited in partnership with credible professional certification centres provide loans to corpers for training and certification. The loan is disbursed through non-refundable vouchers which you can only use at the training centres of ETC partners. The maximum loan amount is ₦45,000.

●     Cash Loan

This package provides loans to corpers for other financial needs that are not covered in any loan package. The maximum loan amount available is ₦45,000 and once your application is approved, the money will be credited directly to your NYSC account.

How It works

To apply for a loan, click here to register on the ETC website. After this, join ETC social network and provide the necessary information and documents to complete your registration.

Apply for your loan and once your application is approved, you’ll receive your funds in your NYSC bank account within 24 hours.


To be eligible for this loan, you must:

  • Be a serving Youth Corps member
  • Have a valid NYSC account number
  • Have a valid phone number and email address which must be the same ones used for NYSC registration
  • Register on the ETC social networking platform
  • Be registered with the SAED programme in your state of deployment (for Business starter package).


No collateral is needed. However, if you default on payment or continue to miss payments, your discharge certificate will be held until you complete all payments and interests have been paid.


The following are needed for ETC loan application:

  • NYSC ID Card
  • Letter of Undertaking duly signed and dated by you
  • Passport Photograph (Showing full face and shoulders only)
  • PPA Posting letter
  • Photo of yourself wearing full NYSC regalia
  • Photo of a valid ATM Card for your NYSC account
  • Letter of Undertaking duly signed and dated by you
  • Attestation Form from SAED (For loans of ₦46,000 and above under the Business starter package)

How to pay back

Loan repayments can be made through:

  • Quick teller
  • ATM terminals at any bank through PayDirect (search for Credit Direct Payments)
  • POS terminals in Credit Direct Limited branches.

2.   Youth Entrepreneurship Development Programme (YEDP)

YEDP is a program designed to provide loans to current and former corpers to finance their small business ideas. This program was developed by CBN in partnership with First City Monument Bank.

How it works

You can apply for this loan through FCMB website. You have 48 hours to complete your application or start all over again. After submission of your application, you will not be able to make changes to it. You can only apply for YEDP loans once.

Applicants can access up to ₦3m while group projects jointly owned by 3-5 qualified beneficiaries can access up to ₦10m with a maximum loan tenor of 3 years. Interest is 9% per annum.


  • Be between 18 – 34 years of age
  • Be an NYSC member or Ex-Corps member (but not more than 5 years post-NYSC)
  • Possess a credible tertiary institution certificate
  • Artisans must possess School Leaving Certificate or Technical Certificate or approved Proficiency Certificate from NBTE
  • Companies that are eligible under this program:
  • Agricultural Value Chain (fish farming, poultry, snail farming, etc.)
  • Cottage Industry
  • Mining and Solid minerals
  • Creative Industry (Tourism, Arts and Crafts)
  • Information and Communications Technology (ICT)
  • Any other activity that may be determined by CBN at any time.


Applicants must provide the following:

  • A viable business plan
  • Birth Certificate
  • A valid ID card (International Passport, Drivers Licence, NIMC ID Card)
  • Tertiary institution Certificate
  • NYSC Certificate
  • Technical Certificates for Artisans
  • Certificate of incorporation of registration of the business name
  • History and financial projection of your business.
  • Any other supporting documents


  • Serving and Ex-corps members will use their tertiary institution(s) certificate(s) and NYSC discharge certificate/ NYSC exemption certificate and any other acceptable certificates.
  • Artisans will provide verifiable Vocational/Technical Certificates.

Other conditions include:

  • Key-man insurance policy for the owner/manager of the company.
  • Comprehensive insurance on assets financed.
  • Personal guarantee of business promoter supported by the statement of personal net worth.
  • Third-party guarantor with updated cheques covering the facility amount.

How to pay back

Loan is back paid directly to the lending bank; First City Monument Bank. Visit any FCMB branch near you for more details.

3.   Graduate Entrepreneurship Fund (GEF) scheme:

The GEF Scheme was developed by the Bank of Industry (BOI) in partnership with NYSC to provide business loans to corp members.

How it works

To apply and be considered for the loan, applicants must have participated in the:

  • Screening process
  • GEF’s 4 days intensive entrepreneurship capacity building program
  • Submission of a viable business plan for business within BOI’s SME clusters. To know BOI’s SME product clusters, visit their website.

Applicants can access up to ₦2million Naira. Interest is at 9% per annum with loan terms of 3-5 years. The moratorium period is 6 months from the date of loan disbursement. Register at https://www.boi.ng/apply/register and apply for a loan. You can track your application here by using the tracking ID sent to your email after the submission of your loan application.


Only serving corps members are eligible for this loan.


To know the documents needed for this loan, visit BOI website once the application is open. However, it is expected that a viable business plan, valid ID, and supporting NYSC documents are needed to access this loan.


  • NYSC discharge certificate
  • Specific charge over the equipment (present and future)
  • Undertaking by the NYSC Directorate not to release the discharge certificate until the loan is liquidated
  • One (1) external guarantor acceptable to BOI who must belong to any of the following categories:
  • Senior Civil Servant (Level 7 and above)
  • Bankers (not below the level of banking Officer) and must have been confirmed by current employer
  • Professionals i.e. Medical Doctors, Lawyers, Accountants, Engineers, etc.
  • Senior Staff of reputable quoted Companies, International Oil Companies, Telecommunications Companies (GSM providers)
  • Elected public servants/administrators
  • Reputable entrepreneurs with on-going entities and registered business names
  • Clergymen

The guarantees must be supported with a Notarized Statement of Net worth acceptable to BOI.

How to pay back

This information is available upon loan approval.


These are lending platforms where you can access NYSC loans as a corps member. Most of them provide not just loans for business but also training for the success of your business. When next you are thinking of a way to finance your business idea, try out these platforms for loans at affordable interests.

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Katherine Chinyere Nwanorue

Katherine C. Nwanorue, a dedicated writer for NaijaDazz, passionately delves into the intricate fabric of Nigerian society, where she sheds light on critical aspects of education, politics, and the latest happenings. Her insightful commentary provides readers with a deeper understanding of the dynamic landscape of Nigeria, offering a valuable lens through which to view the country's evolving narratives.