How To Apply As FG Opens Registration To Give 6,122 Youths Business Loans up to N5 million
- The federal government has a new credit scheme to help Nigerian youths scale their business
- The programme also will provide beneficiaries with training, mentorship, and market access
- The programme is open to aspiring entrepreneurs, early-stage founders, and business owners
Legit.ng journalist Dave Ibemere has experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The federal government through Small and Medium Enterprises Development Agency of Nigeria has a new financing initiative for youth-led businesses.
The scheme will give 6,122 micro, small, and medium enterprises (MSMEs) access to single-digit interest loans under the SMEDAN Inspire, Create, Start, Scale (ICSS) programme.
Source: Twitter
The programme was unvieled in Abuja on Tuesday, February 17, 2026 and the dedicated loan facility will be managed by Jaiz Bank. AriseTV reports.
Who ICSS Is for?
ICSS provides a structured path for entrepreneurs at every stage of their journey:
1. Inspire
This introduces self-discovery, career sensitisation, employability, and entrepreneurship fundamentals to help individuals identify and shape their entrepreneurial potential.
It is for aspiring entrepreneurs unsure where to start. Individuals curious about business and also recent graduates and job seekers exploring entrepreneurship.
- Open to anyone interested in entrepreneurship.
- No prior business experience required.
- Willingness to participate actively.
2. Create
This covers basic entrepreneurship, ideation, prototyping, and the business model canvas to help participants turn ideas into structured, viable ventures.
It is for those with a business idea needing structure. early-stage entrepreneurs validating their concept and small business owners refining strategy.
Eligibility criteria:
- Must have a business idea
- Basic understanding of the industry.
- Commitment to module activities.
3. Start
This module focuses on business planning, financial projections, and operational readiness to support participants in launching and stabilising their businesses.
It is for Entrepreneurs ready to move from planning to execution. Those with a validated idea needing guidance on launching and Business owners formalising operations.
Eligibility criteria:
- Clear business model and validated idea.
- Willingness to implement marketing and sales strategies.
- Commitment to launching the business.
4. Scale
This explores business innovation, productivity enhancement, digital marketing, and growth planning to prepare participants for scaling and investment.
It is for business owners ready to scale. Entrepreneurs expanding into new markets and Founders seeking investment and strategic grow
Source: Getty Images
Target participants
- Youth & Graduates: Recent graduates and young people seeking entrepreneurial skills and self-employment opportunities
- Aspiring Entrepreneurs: Individuals with a dream to start a business but don’t know where or how to begin
- Early-Stage Founders: Entrepreneurs who have an idea or small venture and need help refining, structuring, and validating it
- Growing Business Owners: MSMEs and entrepreneurs ready to formalize, expand, and scale their operations
How to apply
Step 1: Visit the Official Portal
Go to the SMEDAN ICSS registration portal via www.smedan.gov.ng/ICSS or the dedicated ICSS application page.
Step 2: select your module
Choose the stage that fits your business journey:
- Inspire: For aspiring entrepreneurs exploring ideas
- Create: For early-stage ideas needing structure
- Start: For launching and formalising a business
- Scale: For expanding, scaling, or seeking investment
Step 3: Complete the Application Form
Provide your personal information, business details, and a brief description of your business idea or existing venture. Attach any supporting documents if required.
Step 4: Submit Your Application
Review your information and submit your application. Only complete and eligible applications will be considered.
Step 5: Await Confirmation
SMEDAN and its partners will review your application. Successful applicants will receive confirmation and instructions on how to access single-digit interest loans and ICSS support services.
Step 6: Access Mentorship and Financing
- Once approved, you will gain access to:
- Training and mentorship under the ICSS programme
- Financial support ranging from N250,000 to N5 million depending on your business stage:
START loans: N250,000 to N2 million
SCALE loans: N1 million to N5 million
For full details and steps to apply click here
Women business loan
In a related development, Legit.ng reported that the Bank of Industry (BOI) has also launched the Guaranteed Loans for Women (GLOW) fund.
The fund is a N10 billion initiative designed to support women-owned and women-led businesses across Nigeria.
It will provide guaranteed loans for female entrepreneurs to expand their businesses.
Source: Legit.ng
