FG’s YouthCred Loan: How to Get N200,000–N2,000,000 for Your Business
The Federal Government has launched the YouthCred initiative to give young entrepreneurs access to affordable credit. The scheme offers loans from N200,000 up to N2 million without collateral or guarantors. To qualify, applicants must be between 18 and 35 years old, run a business, and show proof of cash flow and repayment ability. Eligible businesses include caterers, farmers, fashion designers, ride-hailing drivers, content creators, NYSC members and other small enterprises. Applications are made online and processed through participating banks. Borrowers can choose repayment plans from one to 12 months. Higher loan limits come with timely repayments, positive credit history and completion of financial training modules. The Finance Minister said the programme will unlock the potential of Nigeria’s micro enterprises. The NCCC CEO confirmed plans to reach half a million beneficiaries initially and one million by year-end.
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