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CBN TIES Loans & Grants For Graduates’ Smes

Tertiary Institutions Entrepreneurship Scheme (TIES)
An initiative targeted at empowering graduates of Nigerian Polytechnics and Universities with entrepreneurial skills for Entrepreneurship development, Economic development and Job creation.

Applicants under the Scheme shall be graduates of Nigerian polytechnics and universities with first-degree certificate (BSc/HND/ or its equivalent); National Youth Service Certificate (NYSC) discharge or exemption certificate; Certificate of Participation issued by polytechnics and universities evidencing entrepreneurship training; and Not more than 7 years post-NYSC,” the document reads.

The CBN added that the equity investment component shall be in the form of injection of fresh capital for start-ups, expansion of established businesses or reviving of ailing entrepreneurial businesses.

Another component of the intervention is the developmental component which shall be disbursed in the form of grants to Nigerian polytechnics and universities in a national biennial entrepreneurship competition.

The apex bank said it would award N500 million worth of grants to five top Nigerian polytechnics and universities with the best entrepreneurial pitches/ideas.

Only undergraduates of Nigerian polytechnics and universities are eligible to participate under the developmental component.

“Five top Nigerian polytechnics and universities with the best entrepreneurial pitches/ideas shall be awarded as follows: first place – N150m; second place – N120m; third place – N100m; fourth place – N80m; and fifth place – N50m,” the document adds.

Interested applicants must apply on the dedicated online portal and provide all the requisite documents to support the application.

Available Loans

REQUIREMENT
CAC Certificate
BVN
NIN
TIN
Certified true copies of CAC
Valid ID
Corporate account
BSc.
NYSC Discharge/Exemption
Business Report

Visit cbnties.com.ng or cbn.gov.ng

Source
CBN SME

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