Graduate Entrepreneurship Fund Security Requirements
1. Specific charge over the equipment (present and future)
2. Lien on the NYSC discharge certificate
3. Undertaking by the NYSC Directorate not to release the discharge certificate until the loan is liquidated
4. One (1) external guarantor acceptable to BOI who must belong to any of the following categories:
a) Senior Civil Servant (Level 7 and above)
b) Bankers (not below the level of Banking Officer) and must have been confirmed by current employer
c) Professionals i.e. Medical Doctors, Lawyers, Accountants, Engineers, etc.
d) Senior Staff (not less than a manager) of reputable quoted Companies, International Oil Companies, Telecommunications Companies (GSM providers)
- The guarantor shall provide valid means of identification, passport-sized photograph and shall execute a guarantor’s form wherein requisite information including his/her Bank Verification Number (BVN) shall be provided.
- Guarantees must be supported with a Notarised Statement of Net worth acceptable to BOI.
- For Limited Liability Companies or partnerships, the Chief Promoter or one of the partners shall be Corps member and shall pledge his/her NYSC discharge certificate for the loan.
