In the move to encourage industrious Nigerians who are in die need of funds to support and grow their businesses, the Federal government has decided to give out loans to their youth in other to boost their businesses. Often times, these desperate Nigerians run into the hands of scammers who disguise as volunteers and middle men in processing the loans. Some even go as far as getting documents and money from unsuspecting victims and disappear at the end of the day. Federal government grants in 2018 is a financial award provided by a government or any type of organization. Often times, grants are created by governments of different levels, from the local government administration to the country’s government.
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For one to avoid getting into the trap of scammers in 2018, it is better for one to have a good understanding about the official grants offered by government or banks.
Nigeria Entrepreneurs are blessed with unique ideas to grow their businesses and hope to boost it to a stable and profitable organization, but the challenging thing about these young vibrant Nigerians is the lack of money to finance their business, without money to implement ones entrepreneurial ideas, the whole essence of the idea is worthless. Since many Nigerians are in the look out for Federal Government empowerment loan for entrepreneur or at least various grants that can provide some financial assistance, we advise you to take advantage of the opportunities offered by YES programme and Bank of Industry.
The Bank of Industry YES Programme BOI YES programme is designed to assist young Nigerian entrepreneurs who are between the ages of 18 to 35 to participate in business training, develop their own business plan, and get financial support to implement their plans. Some people who succeed in participating in the scheme will stand a chance of getting a loan of upto N10 million to actualize their dreams of implementing their business business ideas.
YES is an accronym for Youth Entrepreneurship Support programme and most beneficieries of this BOI (Bank of Industry) project simply call it Yes Program. The goal of the program is to give hopes to young Nigerians solve the big unemployment situation that is currently being a problem in the country. Many believe that YES Programme is a Federal Government grant but it is actually an empowerment loan, YES is a great strategic programme that can change Nigeria’s future. If you want to learn how to create and manage businesses, explore the important entrepreneurship skills, and receive finances to make your business dream come true, you should learn more about Boi Yes Program on the official Bank of Industry website.
SME Financial Program by Central Bank of Nigeria is an official program that is supported by the bank and gives financial loans of up to 500 million Naira for medium and small enterprises. All that is needed to benefit or receive this loan is to meet all the criteria set by the bank which include provision of document and a prove that the project requires financial support to grow. This program supports the following Educational support, Manufacturing, Agricultural chain etc. Though it is slated for people who are from 18 years and above.
Loans are given to help businesses develop. To get one, you have to search for programs in a specific area of interest which is Agriculture, Science, etc. that doesn’t require repayment after the project is implemented. The requirement for such loans detailed documentation on what you intend to implement, how the conceived idea is going to be realized, what you expect to achieve, etc. To get grant support for projects is somehow challenging. Many Nigerians compete for grants and have to prove that their ideas and project solves various problems and aims at further development and growth of the country and Nigerian community. Still, if your business idea is exclusive and interesting, you might be able to get grant to run your start-up.