How to Apply For CBN TIES Entrepreneurship N500M Grant

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 CBN TIES, which stands for Tertiary Institutions Entrepreneurship Scheme), was developed by the CBN to discourage graduates and undergraduates from Nigerian colleges and universities from naturally seeking clerical jobs.

As we all know, there is a belief that once you finish school, you are entitled to a paid job from the federal government. This belief has slowly given many young people great opportunities for entrepreneurship.

The program aims not only to divert young people's attention away from white-collar jobs, but also to provide them with a funding model that promotes job creation and economic growth in the country. This article will guide you on how to apply for her TIES Loan/Scholarship as a Student or Alumni, but before that let's take a look at the requirements needed to apply.

CBN TIES Application Requirements

1. A valid mobile number linked to your NIN, BVN, tax ID and email address.

2. Proof of registration of the company name. A true original copy of the CAC document is required

3. The bank account number of the business you want to focus on.

4. Bachelor's degree or NYSC discharge or exemption certificate.

Documents required for scholarship application. 

Now let's see how to apply for a CBN TIES loan. Companies Eligible for CBN TIES Loans

1. Agribusiness - concerned with harvesting, processing, storage and logistics.

2. Information Technology - The world is globalized and there are many opportunities in the world of technology. So you need either software/application development, data management, robotics, business process outsourcing, etc.

3. Creative Industries - related to entertainment, publishing, art, food management, photography, fashion, beauty/cosmetics.

4. Science and technology - medical innovation, ticketing, robotics, renewable energy, transportation systems, waste management.

Without a valid and viable plan for your business, your TIES loan may be denied.

 How to Apply for a CBN TIES Loan in 2023

1. Go to any cyber cafe and visit this website. https://cbnties.com.ng.

2. Open the page and you will see the option to apply for a scholarship. Also, before applying for a loan, it is important to know that you must have completed a degree from a Nigerian University or Institute of Technology within the last seven years. Serious entrepreneurial interest.

Maximum amount you can get with a CBN TIES loan

It depends on what you apply for. For personal business ideas or projects, the loan limit is NGN 5 million and the term is 5 years.

On the other hand, for partnerships or corporate projects with up to 5 individual partners, the credit limit is NGN 25 million for the same number of years (5) as the duration. 

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