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The Term Loan Component is NOT a grant but a loan repayable over an agreed tenor for a specific purpose with clear terms and conditions.
The Equity Investment Component shall be in the form of injection of fresh capital for start-ups, expansion of established businesses or reviving of ailing entrepreneurial businesses. The Component shall be implemented under the AGSMEIS Equity window.
The Development Component of TIES is in form of grants to Nigerian Polytechnics and Universities after participating and coming top in a National biennial (ie. once in 2 years) entrepreneurship competition.
The competition is aimed at raising awareness and visibility of highimpact entrepreneurial/technological ideas among undergraduates, promote entrepreneurial talent hunts in Nigerian polytechnics and universities, as well as encourage innovations that are commercially viable and with transformational impact.
How many components does the TIES have
The Scheme shall be implemented through three (3) components:
• Term Loan Component;
• Equity Investment Component;
• Developmental Component
Can I apply as an undergraduate
No, the Scheme is for graduates of Nigerian Universities and Polytechnics that have successfully completed their NYSC and have collected their Discharge or Exemption Certificate.
Who is eligible to apply for TIES
Graduates of Nigerian Polytechnics and Universities shall be eligible to participate under the Term Loan Component.
Eligibility Criteria for Participation for the Term Loan Component under TIES
• Applicants under the Scheme shall be graduates of Nigerian Polytechnics and Universities:
• 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.
What are the documents needed to apply for TIES
• 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;
• 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.
How can I apply for TIES
Apply through https://cbnties.com.ng