Youth Innovative Entrepreneurship Development Programme

[vc_row][vc_column][vc_column_text]Login to the YIEDP portalIn recognition of our commitment to SME and Youth development, Heritage Bank has been adopted by the Central Bank of Nigeria (CBN) as the sole pilot bank for the Youth Innovative Entrepreneurship Development Programme (YIEDP). The programme is aimed at harnessing the latent entrepreneurial spirit among the teeming youths by providing timely and affordable loans to implement their business ideas. This further provides a sustainable mechanism to stimulate employment, contribute to the Nation’s non-oil GDP, and address the challenge of youth restiveness. 

The following categories of youth (aged 18 – 35) are eligible under this scheme:

  1. Serving youth corps members
  2. Non-NYSC (not more than 5 years post NYSC)

Qualified Business Sectors:

  1. Agro – Allied
  2. Food Processing / Preservation
  3. Arts & Crafts
  4. Manufacturing / Cottage Industry
  5. Information & Communication Technology (ICT)
  6. Construction Support
  7. Power & Energy
  8. Education & Financial Inclusion
  9. Film & Photography
  10. Automobile
  11. Others 

The details below are relevant for all eligible youth:

  • Eligible youth can apply for the loan through this portal http://www.yiedp-hbng.com/ using his/her NYSC State Code.
  • Applications can be made as an Individual or as a group (of 3-5 applicants with similar business interest)
  • A single applicant can access up to a facility limit N3m while group project jointly owned by 3-5 qualified beneficiaries can access up to a facility limit of N10m.
  • Applicants can also track application status via the same portal.
  • Security: Graduate entrepreneurs will use their tertiary institution(s) certificate(s) and their NYSC discharge certificate. Serving Corp members will pledge their NYSC discharge certificate and their tertiary institution(s) certificates(s). Also, legal ownership of assets financed by the Bank and 3rd party guarantors will be requested as additional collateral from all entrepreneurs.

The application portal will be open for a limited period. However, you can refine your business ideas before the submission of your business proposal at the bank’s request. The first screen of application that commenced on the 15th March 2015 will end after 2 weeks.

Please refer to the FAQ for further clarification http://www.yiedp-hbng.com/ies/faqs.aspx[/vc_column_text][/vc_column][/vc_row]

Akinola George-Taylor, Managing Director of Heritage Bank Plc, and his Team, paid courtesy visit yesterday to the Governor of Lagos, Babajide Olusola Sanwo-Olu, at the State House, Alausa yesterday.

The Managing Director of Heritage Bank, Akinola George-Taylor has disclosed that the bank would continue to increase the wallet of its business transactions with Lagos state government.  

He gave this assurance yesterday when he led a team of the bank on a courtesy visit to the Governor, Babajide Sanwo-Olu at the government house, Alausa, Ikeja.

George-Taylor commended Sanwo-Olu’s administration, whilst aligning with the great works in Lagos State.

“We are here to introduce ourselves as the new management of the Heritage Bank and being that we have had a relationship with the state (Lagos) for a number of years now, we felt it was necessary to come and present ourselves to the Governor; to say thanks for the business that we enjoyed with the government and that we align and commend the great work he is doing for Lagos State.

“And of course, as bankers, we want to try and increase our own size of the wallet of the business that we do with the government and to extend our best wishes to him and his government. It was a courtesy call to say thank you and wish him well in the next coming elections,” he said.

Speaking earlier, the Governor, Sanwo-Olu said his administration was poised to do more as it continued to play its roles in providing an enabling environment, improving the ease of doing business and being forward-looking in its dealings with financial institutions.

The governor also said that his administration will continue to ensure a mutually beneficial relationship with financial institutions in the State.

He said: “Lagos is the Centre of Excellence and the commercial, economic nerve centre, so we cannot but ensure that we have a very forward-looking mutually beneficial relationship with all of our financial institutions and of course, Heritage Bank is not an exception.

“I want to implore you and your team to be intentional and think something fresh; think something different that can indeed stimulate us. You can rest assured that we know how important it is to spread our businesses and to ensure that everybody gets a part of it knowing that you and your staff will also have a corporate responsibility on the Personal Income Tax component. It is expected that we will continue to play our roles and play our parts.”

Governor Sanwo-Olu congratulated the Managing Director and his new team on the huge and great responsibilities that shareholders and other stakeholders in Heritage Bank have reposed in them,” he said.