₦airaland Forum

Olowozain:
This is FG programme and not a traditional loan, so FG could stand as our guarantors and collaterals and even as our solicitors if they need to suddenly convert the program loan terms into traditional loan terms because we were all invited by Federal Government (FG) and the conditions to have access to fund our businesses doesn't include guarantors

Let us relax and be more focus and watch what happen next

Nairaplus:
Seriously speaking, my TRAINING will be next week (October 10th -14th) but with all the noise about Guarantors for a Federal Government guaranteed loan, I am begining to consider taking a bow out of this.

First, they put us through the first test of spending internet data, and then they surprised us with the Take-Care-of-your-Bills warning for the training.

I think this is getting too far... how can government not be able to make provision for what it envisioned will boost the economy? This programme is becoming laughable o... seriously.

HelloItsMe:
Abi you don't know what an internship is? Plus the duration was stated which is 1 month, and he wouldn't be working as a pertrol attendant... So if they don't decide to give home full time position, e concern you? He has gotten valuable experience, that's what matters.

Sportize:
@jethrolite, i suggest u find another line of business if wat u say is d exact nature of wat u want d loan 4...

Tink of sumtin dat will gv u immediate returns nd frm there u can use its profit to run d business of your dreams... even they wont buy d idea.
U av d chance of changing business still

I my self am into service business but i thought about it and i currently making a business plan on something totally different...

#WeMustSucceed

WORLDPEACE:
I know there is no disconnect anywhere, I'm just saying they better be joking. I think I remember seeing the guarantor thing somewhere though on BOI site, but they did not give details. They put 10 billion naira all over the news to get people excited. Too bad it worked; I am already excited and I am going to get what's mine.

WORLDPEACE:
Let's just make it to the very last stage of the program. My philosophy of life is that nothing is given; you gotta take it. I don't know what Buhari's intentions are but I'll be damned if I am going to let them waste my data and funds on a program only to be given requirements I can't meet. I will lead a social media campaign the stench of which they cannot stand. I know the negative feedback from across the nation is already piling up. There is so much pressure a man can take, even if they are politicians. I have aluta in my DNA. We won't just roll over and play dead. I want to believe there is just a disconnect between the bank, us and the government. We will all end up as one big happy family.

Olowozain:
Both Jethrolite and WORLDPEACE has really make more than sense in their last comments.

You guys should keep it up.

As for me, the training I have received and still receiving is an asset already.

AMI and PAU has made their money already as Jethrolite has mentioned, so it is left for BOI/FG not to waste both human and monetary resources.

They don't need any form of Guarantor to make these program a success.

A Guarantor won't make an entrepreneur/business be successful rather they should focus on parameters that would make an entrepreneur/business to be successful

WORLDPEACE:
Fight to the end we must sha! Success is not for the faint-hearted. Even If it takes a stick-up on the policy makers to get it, I will get it.

Aiholi:
He is on ''internship'' sir.
How is he gonna be dumped?

Aiholi:
lalasticlala, myndd44, Seun, etal
Please let our Nairaland Youths see and Learn

WORLDPEACE:
Add that to the fact that they've wasted tax payer's money that's short in circulation training every one of us. It makes no sense if most can't access the loan. We are looking at about a billion spent on training. It's ridiculous!

WORLDPEACE:
Then taking my certificate makes no sense. I could get a job that would help me pay the loan with 3 month's salary. You can't cage me and still stress my loved ones. Besides, if they had that money to give they would have given me directly.

WORLDPEACE:
What does the guarantor vouch for? Is it loanee's ability to pay back the loan or their character? What I mean is, in the event that the loanee is not able to pay but he is ready to face the consequences will the guarantor still have to pay the 5 million?

Olowozain:
Nevertheless, I believe BoI/FG would have to readjust their loan term as regards to guarantor to enable them achieve the purpose of the program and avoid successful applicants to withdraw

dyydxx:
it's on a case by case basis. depending on your business would determine how they would ringfence the loan

dyydxx:
yes

ESUNAM:
Participants in the ongoing federal government
Youth Entrepreneur Support Programme (YES-
P) in collaboration with Bank of Industry (BoI)
have cried out for a more feasible loan
conditions in order to be able to access the 5
million naira loan en marked for the funding of
their business ideas.
According to some participants interviewed by
our correspondents, after going through a
three months rigorous online training and
another one week intensive in-class training,
the Bank of Industry has presented difficult
loan conditions which will effectively make it
difficult to get the loan.
The YES-P participants according to the loan
terms will have to relinquish two certificates
including their degree certificates all through
the loan term as a collateral security.
Another huddle is the provision of a loan
guarantor who will have to declare their net
worth to the bank including bank statement.
The categories of individuals who can sign as
guarantor are senior civil servants, doctors,
lawyers, professionals. According to
participants, getting these individuals to sign a
loan of 5 million naira in this time of recession
is an almost impossible task.
The loan also comes with a 9% interest rate
that must be paid within a term of five years.
Most of the would be beneficiary of the
scheme are already pulling out as a result of
their inability to provide loan guarantors,
according to a source in the bank, very few
participants, less than 5% have been able to
meet the loan conditions.
Some of the participants also complained that
the bank will mainly support their business
through direct purchase of equipment and
other capital assets while releasing only a
maximum of 50% of the fund as working
capital. According to sources, this arrangement
only favors agriculture but disadvantage for
those investing in ICT, intellectual properties
and those whose business is offering of
services.
The YES Programme is an initiative of the
federal government and the Bank of Industry
to tackling unemployment in the country which
is expected to generate 36,000 jobs for the
nation. The YES Programme is also part of the
federal government’s drive and wealth creation
programme which is aimed at addressing the
malaise of youth unemployment.
The programme is targeted at young aspiring
entrepreneurs within the age range of 18-35
years, who have a minimum educational
qualification of Ordinary National Diploma
(OND) or its equivalents.
Considering the hurdles standing in the way of
these entrepreneurs, it is highly unlikely that
the objective of this programme will be
accomplished except the federal government
steps in and help advice the bank of industry to
soften the loan conditions.

WORLDPEACE:
I need an up to date digital marketing course or material. Do you have any? I also need to do serious online marketing.

WORLDPEACE:
Shebi you see how you have ruined the song?
Now I have to go and rewrite part of it.

WORLDPEACE:
Can't wait to hit the 13th course, that would be 70% completed. By then they would have started inviting some people to the in-class training. That is the first milestone to aim for.
We're making money this year, no matter what they do things will be better this year.
This year,
this year,
this year.

Hehehehehe

CuteTj:
i was just kidding. do drop your email.

ExInferis:
Stop lying.

From a 30k phone to a 400k phone?

You can't afford the Note 7.

Else you wouldn't ever be caught dead with a Tecno.

CuteTj:
This one pass brain sapping!!!!!!!!

I now have a backlog of uncompleted assignments. Who will help me out with my assignments (for a fee)? LoL......

Firebrand1:
I rep cohort 2
Am sorry for being so mute 4 long, the online programme is brain sapping .........10th course completed and waiting for the next course to load

repogirl:
True talk. What good is an expensive phone if the OS isn't updated frequently. Google phones are the best right now.

Did you say Note7? Isn't that the one that explodes?

WORLDPEACE:
Okay, here I am. What good tidings bringest thee?