FG Launches YOUTHCRED Loan Scheme, Offers Up to ₦2 Million to Young Entrepreneurs
The Federal Government has officially launched the YOUTHCRED for Entrepreneurs initiative, a new financing programme designed to provide affordable business loans to young Nigerians and improve access to credit for entrepreneurs across the country. The scheme, unveiled in Abuja by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, is expected to benefit over 500,000 young entrepreneurs nationwide.
Under the initiative, eligible applicants can access loans ranging from ₦200,000 to ₦2 million to start, sustain, or expand their businesses. Unlike conventional bank loans, the programme focuses on applicants’ credit behaviour, business cash flow, and repayment capacity, rather than collateral, making it easier for young entrepreneurs to secure funding.
Who Can Apply?
Applicants must:
- Be between 18 and 35 years old.
- Own or operate a business.
- Demonstrate responsible credit behaviour.
- Show evidence of business cash flow and ability to repay the loan.
How to Apply
Interested applicants can submit their applications online through the official YOUTHCRED portal by completing a short application form and undergoing the required verification process. Approved applications will be processed through participating regulated financial institutions. Beneficiaries can also choose flexible repayment plans ranging from one to 12 months, depending on their financial capacity.
Apply here: YOUTHCRED Application Portal
For more verified news, business opportunities, and government updates, follow the Egalitarian Voice Media Channel on WhatsApp: https://whatsapp.com/channel/0029Va9qtzXHwXbIyBGtjk2o
