Here is how to check the disbursement of Nigerian Youth Investment Fund NYIF Loan Status
In cooperation with the Central Bank of Nigeria (CBN) and the Nirsal microfinance bank, the federal government began approving NYIF loans to applicants once they were partially completed.
The Nigerian Youth Investment Fund (NYIF), set up last year by the federal government to support young Nigerian entrepreneurs looking to start their own businesses, was set up to approve loans for successful candidates.
Applicants who have successfully completed online entrepreneurship training should take the following steps to check the status of their loan:
Applicants are to Visit the NYIF portal nyif.nmfb.com.ng.
Provide your login details in the NYIF dashboard(Username and Password).
Then Click on Check Loan Status.
A diaglog box will appear showing your loan status if approved or still pending.
How to apply for new CBN N500,000, N750,000 and N3,000,000 Non-interest and Collateral free loan
NON-INTEREST TCF
The CBN has introduced a 50 Billion Naira Non-Interest Targeted Credit Facility to support individuals and businesses in Nigeria.
Loan Amount: N500,000 and N750,000
Moratorium: Up to 12 Months
Tenor: Up to 36 Months
NON-INTEREST AGSMEIS
The Non-Interest AGSMEIS Traders dealing in foodstuff, electronics, allied products, computers/phones, spare parts, building material, transportation, etc.
Loan Amount: Up to N3,000,000
Moratorium: Up to 12 Months
Tenor: Up to 36 Months
These facilities are not cash based, as the CBN will only pay approved loan amounts to their own appointed Vendors to supply you with requested items to start or support your business.
If you have benefited from the COVID-19 TCF, you’re not eligible for the new non-interest TCF. However, you are eligible to apply for the Non-interest AGSMEIS of N3,000,000.
If you have already benefited from the regular AGSMEIS programme, you are also not eligible to apply for the new non-interest AGSMEIS. However, you can apply for the non-interest TCF of N500,000 or N750,000.
Application for the non-interest TCF of N500,000 has no special requirements
Application for N750,000 requires business name, RC number and Tax Identificationnumber (TIN).
Application for AGSMEIS of N3,000,000 requires applicants to undergo a mandatory short business training, certification and business plan writing from CBN approved Enterprise Development Institutes (EDIs).
To apply for N500,000 Non-Interest Targeted Credit Facility [Household], visit bitly.com/5hktcf
To apply for N750,000 Non-Interest Targeted Credit Facility [SME], visit bitly.com/75ktcf
For the N3,000,000 AGSMEIS facility, see more details and how to apply through an EDI at bitly.com/tenloan
