CBN TIES ₦5 to ₦25 Million Loan Grant 2023
The CBN TIES Loan is an excellent program designed to equip Nigerian college graduates with the skills and knowledge they need to start their own businesses.
It promotes economic growth and job creation also empowers individuals to take control of their financial future.Now that the door is open let’s explore how to use this portal to apply for a CBN TIES loan.
This is a golden opportunity that can help individuals build their businesses and contribute to the development of the Nigerian economy.
Let’s take the time to learn more about the application process and see how we can take advantage of this valuable resource.
Unemployment in Nigeria is very high and young people face the challenge of finding work on their own.
Self-employment can be a great option but starting a business often requires financial resources.
This is where a loan can help. TIES loans are specifically designed for Nigerian graduates and provide them with access to funding to help them start a business.
These loans can be a valuable tool for anyone looking to take the entrepreneurial route and take control of their financial future.
The Tertiary Institutions Entrepreneurship Scheme (TIES) is a program that provides Nigerian graduates and undergraduates with access to loans to help them start their own businesses.
The Central Bank of Nigeria (CBN) launched the program in 2021 in an effort to support the next generation of entrepreneurs and help overcome the financial barriers that can often stand in the way of starting a business.
By providing access to funding TIES aims to empower individuals to take control of their financial futures and contribute to the growth of the Nigerian economy.
The goal of TIES is to encourage college graduates and students to start their own businesses instead of pursuing traditional white-collar jobs.
By supporting the next generation of entrepreneurs TIES aims to create jobs and stimulate economic growth.
This program is an important resource for individuals interested in taking control of their financial future and making a positive impact on their community.
What’s the TIES Loan application process?
Follow these instructions to apply:
To apply for a CBN TIES loan you need to follow the steps mentioned below:
Make sure you meet the eligibility requirements for the loan. These may include being a Nigerian citizen, being a graduate or undergraduate student and having a business plan for a viable and innovative business.
Visit the CBN TIES website and create an account. You will need to provide your personal and contact information, as well as information about your business idea.
Submit your business plan and any supporting documents such as resume, financial projections, market research and budget.
Wait for the CBN to review your application and make a decision. If your application is approved, you will receive notification and instructions on how to access the loan funds.
It is important to note that the exact application process may vary depending on the specific requirements of the CBN TIES loan program. I recommend consulting the CBN TIES website or contacting CBN directly for the most up-to-date information.
Who qualifies for TIES?
To qualify for you must meet the following eligibility criteria:
Be a Nigerian citizen
Be a graduate or undergraduate student
Have a potential and innovative business idea
Please note that these are general eligibility requirements. And the exact criteria for TIES may vary depending on the specific details of the program. I recommend consulting the CBN TIES website or contacting CBN directly for the latest information on the eligibility requirements for this loan program.
Who can apply for TIES?
TIES’s business activities include:
1. Harvesting, processing, storage, and logistics
2. IT: software/app development, data management, robotics, BPO
3. Entertainment, publishing, art, culinary/event management, photography, fashion, beauty/cosmetics
. Medical innovation, ticketing systems, robots, renewable energy, traffic systems, waste management
Your organization must fall into one of these categories for you to be eligible for TIES as a graduate or undergraduate.
What are the TIES loan application requirements?
These documents are needed for this timely loan:
Bachelor’s (BSc or HND or any of its equivalent)
Discharge or exemption from NYSC
Polytechnics and universities give certificates proving entrepreneurship training.
Start-ups and firms less than 3 years old should provide a Statement of Income, Statement of Affairs, and cash flow estimates.
Business plan detailing specifics, finances, and project benefits
Note: 7 years post-NYSC is max.
What’s the TIES maximum?
Here are the TIES loan amounts by level:
Tier 1 (individual projects): N5M with a 5-year duration.
Tier 2 (Projects with 5 or fewer partners): Your 5-year loan limit is N25 million.
TIES interest rate:
Graduates and undergraduates utilizing TIES will pay 5% interest until February 2023. 9% in March 2023.
How do I contact TIES?
Here’s a link: https://cbnties.com.ng/contact Send your inquiry and info. Soon, they’ll reply.
The TIES loan program is specifically designed to help Nigerian university graduates and students with entrepreneurial ambitions. The project aims to encourage entrepreneurship and promote job creation by providing access to capital. If you are a Nigerian graduate or student with a business idea It’s worth considering a TIES loan as a potential source of funding. For more information on the application process and eligibility requirements. Please review the information provided in the preceding message.
Register for TIES Loan Updates
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