Graduate Entrepreneurship Fund of Bank of Industry
Background
The Fund is a N2.0 billion in the first year to encourage young Nigerian graduates of tertiary institutions who are currently serving under the NYSC programme to start up new businesses as well as expansion of existing ones.
The Fund is a N2.0 billion in the first year to encourage young Nigerian graduates of tertiary institutions who are currently serving under the NYSC programme to start up new businesses as well as expansion of existing ones.
TARGET MARKET/ CRITERIA
This product will be available to serving NYSC members that have successfully passed through the following stages:
Screening process
Attended the capacity building programme developed specifically for the prospects under GEF
Submitted a bankable business plan in respect of any of the Bank’s identified 35 SME clusters listed in Appendix I. (Any subsequent addition to the Bank’s identified cluster shall also be included)
This product will be available to serving NYSC members that have successfully passed through the following stages:
Screening process
Attended the capacity building programme developed specifically for the prospects under GEF
Submitted a bankable business plan in respect of any of the Bank’s identified 35 SME clusters listed in Appendix I. (Any subsequent addition to the Bank’s identified cluster shall also be included)
Projected Impact
The fund shall be deployed to support the establishment and/or expansion of an estimated 1,000 enterprises promoted by NYSC members across the country. The scheme is expected to create a minimum of 5,000 direct jobs and 25,000 indirect jobs annually, totalling 30,000 jobs.
The fund shall be deployed to support the establishment and/or expansion of an estimated 1,000 enterprises promoted by NYSC members across the country. The scheme is expected to create a minimum of 5,000 direct jobs and 25,000 indirect jobs annually, totalling 30,000 jobs.
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