The Graduate Entrepreneurship Fund (GEF) programme is a special scheme to encourage and promote entrepreneurship among serving members of the National Youth Service Corps (NYSC). The scheme provides loans of up to N2.0 million at 0% interest rate to support enterprises and potentially viable business ideas.
The Bank of Industry has opened applications for a new round of Graduate Entrepreneurship Fund (GEF), in which it is staking N2 billion for serving National Youth Corps members who will have access to funding to expand their businesses.
The funding, a zero per cent interest rate loan, will be disbursed to selected applicants who met the requirements of the bank, disbursing 50 per cent of loan amount (as working capital) “to be disbursed after successful installation and testing of the equipment.”
BOI Graduate Entrepreneurship Fund Eligibility.
To be eligible for funding, applicants must be serving NYSC members (2017 Batches) that have successfully passed through the following stages: Screening process; attended the capacity building programme developed specifically for the prospects under GEF; and must have submitted a bankable business plans in respect of any of the bank’s identified 40 SME clusters.
How to Apply for Bank of Industry Graduate Entrepreneurship.
The application portal opens on Monday 15th January and closes by midnight Wednesday 7th of February, 2018.