2021 CBN Ties Loan application portal cbnties.com.ng for Central Bank of Nigeria graduates and undergraduates loan is now open. CBN Tertiary institutions Entrepreneurship Scheme (TIES) application portal is now open for Loans of 5M and above for graduates and undergraduates who has or about to start business. The Central Bank of Nigeria (CBN), as part of its policy measures to address rising youth unemployment and underemployment, introduces the Tertiary Institutions Entrepreneurship Scheme (TIES) to create a paradigm shift among undergraduates and graduates of Nigerian polytechnics and universities, from seeking white-collar jobs to entrepreneurship.
The CBN Tertiary Institutions Entrepreneurship Scheme (TIES) aims to provide an innovative financing model that will boost job creation, enhance entrepreneurship development, and support economic growth.
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CBN Ties Loan 2021: Graduates and undergraduates loan
Central Bank of Nigeria(CBN) reveled the process of applying for the Tertiary Institutions Entrepreneurship Scheme (TIES), in partnership with the academia( Universities and Polytechnics) to unleash the potential of the Nigeria graduate entrepreneurs (gradpreneurs) by providing re-orientation, training and an innovative financing model that will enhance the entrepreneurial ecosystem with transformational impact on the economy.
Tertiary Institutions Entrepreneurship Scheme (TIES)
An initiative targeted at empowering graduates of Nigerian Polytechnics and Universities with entrepreneurial skills for Entrepreneurship development, Economic development and Job creation.
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TIES 2021: Central Bank of Nigeria Available Loans
Tier 1 – Sole Proprietorship: For sole proprietorship businesses, limited liability companies and small companies as defined by CAMA
Bank Verification Number (BVN);
Verified first degree certificate (BSc/HND or its equivalent);
Verified National Youth Service Certificate (NYSC) discharge or exemption certificate;
Certificate issued by polytechnics and universities evidencing entrepreneurship training;
Duly signed Global Standing Instruction (GSI);
Third party guarantee: a senior federal/state civil or public servant, clergy, recognised traditional ruler, professionals (lawyers, doctors, accountants etc.), confirmed staff of established companies.
The group shall apply as a business entity registered with the Corporate Affairs Commission (CAC) and certified true copies (CTC) of relevant forms submitted.
- Bank Verification Number (BVN);
- Verified first degree certificate (BSc/HND or its equivalent);
- Verified National Youth Service Certificate (NYSC) discharge or exemption certificate;
- Certificate issued by polytechnics and universities evidencing entrepreneurship training;
- Duly signed Global Standing Instruction (GSI);
- Third party guarantee: a senior federal/state civil or public servant, clergy, recognised traditional ruler, professionals (lawyers, doctors, accountants etc.), confirmed staff of established companies.
- N5.0 million for individual/sole proprietorship/small company projects; and
- N25.0 million for partnerships/company projects
- Interest rate: 5% per annum (9% effective from March 1, 2022 or as may be prescribed by the CBN)
- Tenor: Five (5) years
- Moratorium: 12 months
2. Equity Investment
Start-ups, existing businesses expanding or ailing businesses.
Scope of activities:
The equity investments shall be in enterprises operating within the eligible scope of activities. Applications for participation under the window shall be through submission of application on https://cbnties.com.ng
Subject to the limit prescribed in the AgSMEIS Guidelines.
i. Investment made shall be for a maximum period of ten (10) years (not exceeding December 31, 2031).
ii. There shall be a 3-year lock-in period before exit in order to encourage value creation and boost managerial capacity of business.
NOTE: The equity investment shall be implemented under the AgSMEIS Equity window.
3. Developmental (Grant) Component
Polytechnics and universities in Nigeria shall compete in the national biennial entrepreneurship competition to raise awareness and visibility of entrepreneurial or technological innovations among undergraduates. Applications for participation under the Development window shall be through submission of application on https://cbnties.com.ng
Body of Experts (BoE) shall be constituted from the private and public sector to evaluate entrepreneurial and technological innovations submitted by Nigerian polytechnics and universities.
Top five (5) polytechnics and universities at the national level shall be awarded the grant prize on the recommendation of the Body of Experts (BoE).
- First place – N150.0 million;
- Second place – N120.0 million;
- Third place – N100.0 million;
- Fourth place – N80.0 million; and
- Fifth place – N50.0 million.
The grant shall be utilised specifically for the development of the awardwinning innovations and to support research and development of highimpact projects within or around the institution’s community.
Scope of activities:
Agribusiness, information technology, creative industry and science & technology.
NOTE: The Equity Investment and Developmental (Grant) Components would commence from April 2022..
TIES 2021: CBN Eligible Activities
Activities to be covered under the Scheme shall include innovative start-ups
and existing businesses owned by graduates of Nigerian polytechnics and
universities in the following areas:
i. Agribusiness – production, processing, storage and logistics;
ii. Information technology – application/software development, business
process outsourcing, robotics, data management;
iii. Creative industry – entertainment, artwork, publishing, culinary/event
management, fashion, photography, beauty/cosmetics;
iv. Science and technology – medical innovation, robotics, ticketing
systems, traffic systems, renewable energy, waste management; and
v. Any other activity as may be determined by the CBN from time to time.
TIES Loan: Document Requirements
- CAC Certificate
- Certified true copies of CAC
- Valid ID
- Corporate account
- NYSC Discharge/Exemption
- Business Report
TIES 2021: Eligibility Criteria for Participation
Graduates of any Nigerian university or polytechnic within the past seven (7) years with entrepreneurial interest.
Scope of activities:
- Agribusiness – production, processing, storage, and logistics;
- Information technology – application/software development, business process outsourcing, robotics, data management;
- Creative industry – entertainment, artwork, publishing, culinary/event management, fashion, photography, beauty/cosmetics; and
- Science and technology – medical innovation, robotics, ticketing systems, traffic systems, renewable energy, waste management.
How To Apply For CBN Ties Loan 2021
Interested and qualified applicants for the TIES loan are required to submit their application via the cbn portal: https://cbnties.com.ng/
Joberplanet will continue to update you concerning the CBN Ties Loan as the application continue.
Applicants for this loan are to note that the CBN grant for Ties Loan is for graduate and undergraduates in the tertiary institution across the country.