CBN TIES Loan Application Portal – CBN ₦500M Grant 2023 That door is now open. Let’s learn how to use this portal to apply for a CBN TIES loan.
The CBN TIES loan is a great program that gives Nigerian university graduates the skills they need to start their own businesses. This helps the economy grow and creates jobs.
Due to the high rate of unemployment, all young people in Nigeria now have to look for work on their own. But to operate the self-employed need money. This is what loans are used for. With the TIES loan, any Nigerian graduate can get an instant loan to run their own business.
Remember you can apply for bonds and log in to cbnties at www.cbnties.com.ng is the only place where applications can be accepted.
Do you know about 500 million the subsidy from the central bank? Read on to find out how to apply now.
TIES wants to get college graduates and students to start their own businesses instead of doing jobs to create jobs and help the economy grow.
How do I apply for the CBN TIES Loan – ₦500M
The increase in unemployment in Nigeria has prompted the Central Bank of Nigeria to take decisive measures which have led to positive results. Beneficiaries of this grant, worth ¥500 million, will be empowered.
This award was designed in partnership with educational institutions in Nigeria including universities and polytechnics.
To apply for it, follow these instructions:
1. Go to their website at https://cbnties.com.ng/ by clicking the link.
2. Next, tap “Apply Now”
3. The following step is to complete the registration form by providing the required information, double-checking your details, and then submitting your request. You are going to have to hold your breath till they respond to you.
Who is eligible for the TIES loan?
The government will give consideration to only those applicants who hold a degree from a Nigerian university or polytechnic. In addition to this, they will give priority to innovative entrepreneurial operations that have a strong potential for export, the creation of jobs, and the impact of transformation.
What kind of enterprises can apply for TIES?
TIES cover the following business activities:
1. Agribusiness – harvesting, processing, storage as well as logistics
2. Information technology – software/application development, data management, robotics, business process outsourcing
3. Creative industry – entertainment, publishing, artwork, culinary/event management, photography, fashion, beauty/cosmetics
4. Science and technology – medical innovation,, ticketing systems, robotics, renewable energy, traffic systems, waste management
As a result, in order to be eligible for TIES as a graduate or undergraduate, your company must fall into one of the aforementioned categories.
What documents do I need to apply for TIES loan?
To apply for this timely loan, you require these important documents:
- First-degree certificate (BSc or HND or any of its equivalent)
- National Youth Service Certificate (NYSC) discharge certificate or exemption certificate
- Certificate of Participation your polytechnics and universities issues showing proof of your entrepreneurship training
- Your Statement of Income, Statement of Affairs, as well as cash flow projections for both start-ups and businesses with not more than 3 years of operations
- Business plan delineating details, financials, as well as the economic advantages of the projects
Note: You must not be over 7 years post-NYSC.
What is the maximum amount I can access under the TIES?
Here is a least of the loan amounts you can access TIES based on your level:
- Tier 1 (Individual projects): Your loan limit is N5Million with a tenor of only 5 years.
- Tier 2 (Partnership / Company projects with at most 5 individual partners): Your loan limit is N25 million for a tenor of only 5 years.
What is the TIES Interest Rate?
All graduate and undergraduate students using TIES will receive an interest rate of 5% from the beginning until February 2023. However, by March 2023 it will have increased to 9%.
Where can I find more information about the Tertiary Institutions Entrepreneurship Scheme (TIES)?
Direct contact information can be found at this link: https://cbnties.com.ng/contact. Once you have entered your information and questions, your message will be sent. They are working to get back to you as soon as possible.
IMPORTANT
The TIES loan is a unique financing program designed to help business owners who are either graduate or undergraduate students. The primary objective of this strategy is to support the development of entrepreneurial efforts to increase employment opportunities. Please review the information above to submit your TIES application. However, it is important to remember that the program is not open to anyone other than Nigerian university graduates and students, as well as Nigerian polytechnic students.
