Sterling bank youth entrepreneurship development program: Apply now!

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Sterling Bank Plc popularly known the one customer bank, and a leading commercial bank in Nigeria, has launched a Youth Entrepreneurship Development Program (YEDP).

This is in a bid to support entrepreneurship in the country by providing timely and affordable loans to entrepreneurs to implement their business ideas. And for a bank that puts its customers first, this development is no surprise.

Eligibility

Applicants must be:

Between the ages of 18 – 35.

Serving youth corps members or non-NYSC youths with not more than 5 years post NYSC.

Qualified business sectors include: Agro-Allied, Food Processing / Preservation, Arts & Crafts, Manufacturing/Cottage Industry, Information & Communication Technology (ICT), Construction Support, Power & Energy, Education & Financial Inclusion, Film & Photography, Automobile and Others.

Application Guidelines

Having passed the eligibility test, here are a few things applicants must know before applying.

Applications can be made as an individual or as a group of 3-5 applicants with similar business interest.

A single applicant can access up to a facility limit N3m while group project jointly owned by 3-5 qualified beneficiaries can access up to a facility limit of N10m at 9% interest rate.

Graduate entrepreneurs will use their tertiary institution(s) certificate(s) and their NYSC discharge certificate as collateral, while serving Corp members will pledge their NYSC discharge certificate and their tertiary institution(s) certificates(s).

Also, legal ownership of assets financed by the Bank and 3rd party guarantors will be requested as additional collateral from all entrepreneurs.

Eligible youths can apply for the loan through this portal using his/her NYSC State code.

 

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