CBN TIES Loan Application Portal Login 2022 | cbnties.com.ng

CBN TIES Loan Application Portal Login: CBN TIES grant/loan application staring date has been announced.see requirements, application form portal. (www.cbnties.com.ng) is now open. Tertiary Institutions Entrepreneurship Scheme (TIES) application procedures is here.

If you heard of the ongoing Central bank of Nigeria ₦500M grant for graduates and undergraduates Continue reading to learn how to apply now.

CBN TIES Loan Application Portal: The Central Bank of Nigeria (CBN), Nigerian institution of higher education (TIES) invites application from undergraduate and graduate to apply for loan. the loan is for all graduates of the universities, polytechnics and other higher institutions in Nigeria.

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More information on CBN TIES Loan

The Central Bank of Nigeria (CBN), through the Tertiary Institution Entrepreneurship Scheme (TIES) has introduced a new loan for graduate and undergraduates in any accredited University or Polytechnic, and college in Nigeria.

CBN Undergraduate, Graduate TIES Loan

Tertiary Institutions Entrepreneurship Scheme (TIES) is a Central Bank of Nigeria (CBN) initiative to address rising youth unemployment and underemployment. TIES application form 2021 is now available on the TIES portal. CBN developed the Tertiary Institutions Entrepreneurship Scheme (TIES), in partnership with Nigerian polytechnics and universities to harness the potential of graduate entrepreneurs (gradpreneurs) in Nigeria.

The Scheme shall be implemented through three (3) components:

i. Term Loan Component;

ii. Equity Investment Component; and

iii. Developmental Component.

CBN TIES Loan Document Needed

• First degree certificate (BSc/HND/or its equivalent);
• National Youth Service Certificate (NYSC) discharge or exemption certificate;
• Certificate of Participation issued by polytechnics and universities evidencing entrepreneurship training;
• Letter confirming the applicants’ deposit of required certificates from PFI;
• Projected Statement of Income, Statement of Affairs, and cash flow projections for start-ups and businesses with less than 3 years of operations;
• Business plan outlining details, financials and economic benefits of the projects.

CBN Tertiary Institutions Entrepreneurship Scheme (TIES) Requirements

Applicants under the Scheme shall be graduates of Nigerian polytechnics and universities with:

• First degree certificate (BSc/HND/ or its equivalent);
• National Youth Service Certificate (NYSC) discharge or exemption certificate;
• Certificate of Participation issued by polytechnics and universities evidencing entrepreneurship training; and
• Not more than 7 years post-NYSC.

The beneficiary shall:

• Apply on the dedicated online portal and provide all requisite documentation to support the application;
• Present for verification original copies of submitted certificates and documents;
• Submit business proposal and other documentation requirements
• Adhere strictly to the terms and conditions of the Scheme and avoid any forms of plagiarism in the project idea;
• Utilize the funds for the purpose for which it was granted;
• Present the business and its location for mapping/tagging, as well as monitoring and evaluation;
• Maintain accurate and up-to-date records available for inspection/verification by the CBN and Monitoring Team; and
• Adhere strictly to the terms and conditions of the Scheme.

CBN Tertiary Institutions Entrepreneurship Scheme (TIES) Aim and Benefits

Tertiary Institutions Entrepreneurship Scheme (TIES) 2021 is designed to create a paradigm shift among undergraduates and graduates from the pursuit of white-collar jobs to a culture of entrepreneurship development for economic development and job creation. The Scheme thus aims to provide an innovative financing model that will create jobs, enhance the entrepreneurial ecosystem and support economic growth and development.

• Activities to be covered under the Scheme shall include innovative start-ups and existing businesses owned by graduates of Nigeria polytechnics and universities in the following areas:  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;
• 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.

Note: Priority will be given to innovative entrepreneurial activities with high potentials for export, job creation and transformational impact.

The broad objective of the Scheme is to enhance access to finance by undergraduates  and graduates of polytechnics and universities in Nigeria with innovative entrepreneurial and technological ideas. Other specific objectives of the Scheme include:

• Provide an enabling environment for co-creation, mentorship and development of entrepreneurial and technological innovations;
• Fast track ideation, creation and acceleration of a culture of innovation[1]driven entrepreneurship skills among graduates of polytechnics and universities in Nigeria;
• Promote gender balance in entrepreneurship development through capacity development and improved access to finance;
• Leapfrog entrepreneurial capacity of undergraduates and graduates for entrepreneurship and economic development in partnership with academia and industry practitioners; and
• Boost contribution of non-oil sector to the nation’s GDP.

How Much is CBN TIES Loan

Five (5) top Nigerian polytechnics and universities with the best entrepreneurial pitches/ideas shall be awarded as follows:

• 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 grants shall be in the following areas:

• Agribusiness;
• Information technology;
• Creative industry; and
• Science and technology.

CBN TIES Loan Categories

There are two Loan Categories in the Scheme. They are Sole Proprietors TIES Loan and Small Company / Enterprise TIES Loan.

1. Sole Proprietors: Businesses owned by one person can access up to N5 Million Loan under the Loan Scheme.

Loan Duration (Tenor): 5 years

Interest Rate: 5% from now to February 28, 2022 ( and 9% from March 1, 2022)

Moratorium: Maximum of 12 months (dependent on the type of business)

2. Small Company / Enterprise: Group-owned businesses must be registered with the Corporate Affairs Commission (CAC) and certified true copies (CTC) of relevant forms submitted.

The group can access up to N25 Million loans under the TIES Loan Scheme.

Loan Duration (Tenor): 5 years

Interest Rate: 5% from now to February 28, 2022 ( and 9% from March 1, 2022)

Moratorium: Maximum of 12 months (dependent on the type of business)

How to Apply For CBN TIES Loan

CBN TIES Loan Application Form 2022

https://cbnties.com.ng/register

CBN TIES Loan Application Portal

https://cbnties.com.ng

CBN TIES Loan Portal Login

Login to your CBN TIES portal account
https://cbnties.com.ng/login

CBN Guidelines for the implementation of Tertiary Institutions Entrepreneurship Scheme (TIES)

CBN TIES Implementation Guidelines.

Let me know if you have any questions about CBN TIES Loan Application form that are not answered in the article in the comment section below.