To qualify for the loan, applicants must be Nigerian citizens between the ages of 18 and 35 years old. They must also have a viable business idea and be willing to undergo entrepreneurship training.
The loan application process is straightforward and can be done online through the NDE website. Applicants are required to fill in their personal details, including their name, address, and phone number. They are also required to provide details of their proposed business, including a business plan and financial projections.
Once the application is submitted, the NDE will review it to determine the applicant’s eligibility. If approved, the applicant will be invited to undergo entrepreneurship training, which is a mandatory requirement for accessing the loan.
After completing the training, applicants will be required to submit their business plans for review. If the business plan is approved, the loan will be disbursed to the applicant’s bank account.
Applicants who have already applied for the loan can log in to the NDE website to check their application status. This is a useful feature as it allows applicants to track the progress of their application and know when to expect disbursement of the loan.
It’s important to note that the loan is not a grant and must be repaid within the stipulated period. The interest rate is also very competitive, making it an attractive option for youths looking to access affordable credit to start or grow their businesses.
In conclusion, the NDE Youth Employment Scheme is an excellent opportunity for Nigerian youths to access affordable credit to start or grow their businesses. With loans of up to ₦100,000 at an interest rate of 5%, the scheme offers an attractive option for young entrepreneurs. If you’re a youth with a viable business idea, visit the NDE website and apply for the loan today. And if you’ve already applied, log in to the website to check your application status.